"SaaS" stands for Software as a Service, which provides businesses with access to software applications via the internet. Instead of installing and maintaining software locally, users can access these applications on a subscription basis. SaaS offers benefits such as cost savings, scalability, and automatic updates, enabling organizations to adopt new technologies quickly without extensive infrastructure investments. This cloud-based model streamlines collaboration and accessibility, allowing teams to work remotely and efficiently across different devices, ultimately enhancing productivity and business agility.