According to Gartner, Software as a Service (SaaS) is "software that is owned, delivered and managed remotely by one or more providers. The provider delivers software based on one set of common code and data definitions that is consumed in a one-to-many model by all contracted customers at anytime on a pay-for-use basis or as a subscription based on use metrics."
So what exactly does all that tech-jargon mean?
Put simply, SaaS is a way of delivering software applications over the internet, instead of physically installing and maintaining the software on-site, either on a server or right on your personal workstation.
SaaS can also be referred to as hosted, on-demand, or web-based software. It runs on the SaaS provider's servers, and all users need in order to access it is an internet connection. The SaaS provider manages all of the hardware and security updates.
Bottom line? In addition to finally freeing you from CD cases, organizers and readers for good, SaaS has some key advantages, which I've outlined below.