SaaS – Software as a Service – 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 any time on a pay-for-use basis, or as a subscription based on use metrics. SaaS software can reside in the cloud – either the public cloud or a private cloud. A strict definition would imply that all users use the same software application/database and that each different user company’s data is identified and labelled to ensure that it is only available to properly authorized users from that company. This is often referred to as multi-tenanted. We refer to single-tenanted SaaS as ‘hosted’ and multi-tenanted SaaS as ‘SaaS.
Source: CTRM Center