To streamline organizational efficiency, companies are increasingly looking toward the internet. The rising interest in this new field has paved the way for companies providing internet solutions in various different aspects of industry. Whether it be in payroll or product distribution, a host of new technologies have arisen, and looking for a solution without fully knowing what you’re trying to find can quickly become overwhelming. Here we’ll help you understand the key terms in cloud, SaaS, and technology that will equip you to become both a buyer and seller in this new market of internet solution providers.
Software as a Service (SaaS)
A software delivery approach in which applications are provided over the Internet so that users can access them through a Web browser. Providers typically charge a subscription fee monthly or annually. The vendor manages all software updates, providing a consistent and seamless experience for the customer. SaaS solutions require minimal if any, IT resources and typically boast lower costs and better performance than similar on-premise systems.
Cloud Computing
An expansion of the SaaS concept, Cloud computing is the general term for technology solutions delivered over the Internet. These solutions can include Infrastructure as a Service (IaaS), which refers to processing and storage capacity; Platform as a Service (PaaS), which provides both IaaS and a software development environment; and Software as a Service (SaaS), which incorporates PaaS and includes fully-functional applications. Variants can include Private Cloud, which typically refers to privately owned data center assets which have been virtualized to enable multiple uses, redundancy, performance and scalability across an organization.
Multitenant
The ability for a software provider to run several customers' application instances within a singular software environment. Multitenancy enables software vendors to quickly deploy features and fixes to multiple customers, ensuring they have access to the latest solution capabilities with minimal disruption. Multitenancy reduces the cost of operation and allows for rapid product development.
Hosted Delivery Model
The implementation and operation of a unique and separate instance of a solution provider’s software platform for a customer where a vendor provides all IT services for that solution.
Configurability
In SaaS, configurability is the ability for a non-technical solution administrator to customize, change, tailor or modify a software system to support an organization’s unique business requirements. Configurability can include business processes (workflow), data fields, and user interface behavior, among other solution attributes.
HR Software
Allows the HR department to streamline numerous tasks by maintaining records on a range of components of the HR department. HR software providers offer services for controlling employee data, reporting, employee self-service, benefits, and payroll.
Synonyms are Software for HR, Human Resources Software, Human Resource Software, and Software for Human Resources.
Human Capital Management Software-as-a-Service (HCM SaaS)
A cloud-based HR solution to control and evaluate data in organizations of all sizes. This solution offers services for payroll, performance, time and attendance, and workforce analytics. The benefits of HCM SaaS include easy accessibility, low cost, and no hardware requirement when installing.