The acronym SaaS represents Software as a Service in cloud service models. This delivery model allows users to access software applications over the internet without the need for local installation. SaaS provides several advantages, including cost-effectiveness, scalability, and automatic updates, simplifying maintenance for both users and providers. Popular SaaS offerings include platforms like Salesforce, Zoom, and Dropbox. By leveraging SaaS, organizations can quickly deploy software solutions and facilitate collaboration while minimizing the burden of IT management.