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SaaS is an industry concept that brings modern business software into the cloud, but many ask, “What does SaaS stand for?” SaaS stands for Software as a Service, and it’s becoming an integral part of how SMBs do business. SaaS is powered by software that’s at least partly in the cloud, and that leads to a lot of convenience for companies that don’t have the IT support or the physical space for extensive server architecture in their office.

From an IT standpoint, SaaS is manageable for any size business because there doesn’t need to be an in-house IT department; the provider of the SaaS application will manage the hardware and software for you. Instead of paying a license fee for the software, which usually accounts for more than 15% of the purchase price in support and maintenance fees, SaaS applications typically require a monthly subscription, which includes upgrades and server maintenance.

SaaS applications utilize a structure that has the deeper and standard functionality of a program hosted on a remote, cloud-based server. Users require the internet to access the software, but this also means that no prerequisite hardware will bind the user from software access. As a result, desktops, smartphones, laptops, and tablets can all access the software with no software installation.

With limited exceptions, most SaaS platforms can be quickly and easily accessed via a web browser and an active internet connection. Each page provides the same functionality as using on-premise solutions, and additional functions can be added with ease within the user's admin settings.

An example of a SaaS application is a Customer Relationship Management (CRM) system that grabs data from other SaaS-enabled software. This data can be accumulated via live chat software, UCaaS solutions, and many other programs that gather data from leads that sales and marketing efforts bring in.