Did you know that the term "ATM machine" is actually redundant? The "M" stands for "machine," so you're actually repeating the word twice. Similarly, "SaaS software" actually means "software as a service software."

But, redundant or not, SaaS software is a ubiquitous term in the business and technology spaces these days, and although you might know what examples of SaaS are, you might not know what it actually means.

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"SaaS" stands for "software as a service," and companies that sell SaaS offer software to customers on a subscription basis and that's hosted and distributed online.

Examples of SaaS include cloud-based software like Google Analytics (sold by Google), JIRA (sold by Atlassian), and Service Hub (sold by HubSpot). These cloud-based software are built and hosted by their parent companies and offered on a subscription basis to customers online.

To learn more about SaaS, read about these freemium SaaS companies next.

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Originally published May 17, 2018 8:00:00 AM, updated May 16 2018