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What are the pros and cons of a Software-as-a-Service model versus a traditional on-premise deployment model?

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What are the pros and cons of a Software-as-a-Service model versus a traditional on-premise deployment model?

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We are seeing more pay-as-you-go software-as-a-service models replace traditional, perpetual on-premise license models. Software providers are seeking a more predictable revenue stream and companies are demanding a less expensive non-capital, easier way to manage solutions. While no single approach satisfies everyone, the good news is that more options are available, including outsourcing the entire process.

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