Basics
SaaS (Software as a Service)
SaaS stands for Software as a Service. It means software you pay for on a subscription basis (monthly or yearly) rather than buying once. Most modern business tools are SaaS — Xero, Shopify, Mailchimp, and ChatGPT Plus are all SaaS products. You access them online and the company handles updates and maintenance.
Real-world example
A retailer pays €30/month for Shopify (a SaaS product) rather than paying thousands upfront for a one-off website. They always have the latest features without any technical work.
Related terms
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