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Construction glossary
Construction Glossary •

Software as a Service (SaaS)

What is Software as a Service (SaaS)?

Software as a Service (SaaS) in the context of the construction industry is a key model of cloud computing. It allows construction firms to access software over the internet on a subscription basis. Examples of SaaS tools in construction include project management applications, design software, and collaboration tools. The biggest advantage for the construction industry is that SaaS eliminates the need for hardware acquisition, software licensing, and complex installations. It enables real-time data sharing, enhancing collaboration among teams located in different locations of the world. Users can access services from any internet-enabled device, offering mobility and flexibility. Investment into maintenance and upgrade is also reduced as the SaaS provider takes care of these. Thus, SaaS plays a vital role in streamlining construction operations by making software more accessible and affordable.

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Other construction terms

Credit

What is Credit?

Credit in the construction industry refers to the financial trust extended to a company or contractor, enabling them to procure goods or services with the understanding that they will pay for these in...
Quick Ratio

What is a Quick Ratio?

A Quick Ratio, also known as the Acid-Test Ratio, is a financial metric prevalent in several industries including construction. In the construction sector, it's used to evaluate a company's short-term...
Construction Accounting

What is Construction Accounting?

Construction accounting is a distinct form of project-based accounting, designed specifically for the construction industry. It involves detailed tracking of costs, financial management of project tim...

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