SaaS (Software as a Service) could mean different things to different people, to understand what SaaS is, there are four basic characteristics that have to be present in order for a company to truly be called a “SaaS company”: 1) it should be multi-tenacity, 2) the services should be shared, 3) it should have a feedback mechanism, and most important of all, 4) it should be a pay-as-you-use only service.