A hosted service that enables you to centralize and manage your projects, streamline your tasks, and track time in a personalized online space. This application generates timesheets, reports and invoices and calculates real-time budget vs. the actual budget. Also, you can upload documents and files pertaining to specific projects and assignments.
Hosted SAAS
Project Management/Team Collaboration Tools
These project management solutions and/or online team collaboration tools are provided as a hosted "Software as a Service", or SAAS for short. Typically this means the vendor charges a monthly fee based on where you needs fit in their pricing matrix and then the vendor takes care of ensuring the software is online and working. Hosted solutions also take care of software upgrades; they just happen and users typically don't have to worry about them.
On the other hand, SAAS offers do have their downside; they are typically hosted outside of a company's firewall so there are some security implications. Most are private companies whose financial conditions are also private; though unlikely it's possible one of these services could be shuttered without notice. And with many customers your exact business needs may not always align with the needs of their broader customer base so be prepared to accomodate whatever directions these vendors choose and choose a vendor whose solution caters to your type of business is possible.
For users that need to customize their project management solutions or online team collaboration tool they need to find a solution that either has significant customizability built-in and/or ensure the solution the select has a robust API to allow them to develop the functionality themselves.
Hosted SAAS has many fans and all-in-all can be a huge win for organizations that are careful in their selection process.































