Similar to This acronym stands for Hardware as a Service. At times, it is more cost-effective to rent or lease computing hardware from a Managed Services Provider. Organizations may prefer the recurring Operating Cost of renting servers or workstations versus the Capital Expenditure of purchasing server or workstation outright. A benefit of HaaS is that the client organization typically receives the most current/updated version of hardware without the Capital Expense of a hardware refresh cycle., Software as a Service is the option to lease specific software from a Managed Services Provider as opposed to the Capital Expenditure that would be required to purchase the software outright. An example of SaaS is procuring Microsoft licensing through a Managed Services Provider as opposed to purchasing the licensing from Microsoft directly. This provides flexibility and consistent updates as opposed to purchasing a particular version of the software and keeping track of an applicable update cycle.