Software as a service (SaaS) is a software development model in which a provider licenses an application to customers for use as a service on demand. SaaS software vendors can host the applications on either on their own web servers or download the application to the consumer device.
It is a concept that has been gaining so much popularity over the recent years because it offers an efficient alternative to loading and hosting a multitude of software programs on a company's IT network or individual computers.
SaaS is widely used in most businesses as it provides a number of benefits to the entire organisation particularly in the area of finance, payroll, HR and IT teams, which are all directly affected.
Payroll software for instance tremendously improved payroll accuracy through the introduction of streamlined procedures that notably reduce time-consuming process like personal and variable data collection and input. Inaccuracies and last minute data entry risks are also minimised with the help of manager self-service (MSS) and employee self-service (ESS).