Recently the company you work for began investigating the possibility of replacing their payroll system with a cloud based service provided by a third party company. Which type of service is this?
Answer Description
Software as a Service (SaaS) is an internet or cloud based application accessible by consumers or customers. Crucial Exams, Google Search and Twitter are all common examples of SaaS.
Wikipedia
Software as a service (SaaS ) is a software licensing and delivery model in which software is licensed on a subscription basis and is centrally hosted. It is sometimes referred to as "on-demand software", and was formerly referred to as "software plus services" by Microsoft. SaaS is typically accessed by users using a thin client, e.g. via a web browser. SaaS has become a common delivery model for many business applications, including office software, …
Software as a service - Wikipedia, the free encyclopedia