The software in the past was mostly provided to companies in the form of an installable package that used to be installed on-premises on server infrastructure. Companies spent a lot of money in setting up the infrastructure and incurred an annual cost along with a setup cost which ended up being a huge sum. Then entered the concept of software as a service that hosted the software on the cloud. The customers can start using the software in the cloud just by paying a monthly cost. When they want to stop using it, they also have the convenience of stopping anytime which is the best thing about software as a service model.
