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In computer science, a lease is a contract that gives its holder specified rights to some resource for a limited period. Because it is time-limited, a lease is an alternative to a lock for resource serialization .
Tenant-oriented software for lease administration was available in the early 1980s. Later developments in this industry led to the release of cloud software applications which provide a web-based platform and are usually priced on a subscription basis with minimal if any capital expense cost and monthly or annual fees.
It was renamed upon full release the following year as RAPIC. This was followed by the accounting and management software called LEASe and an accounts receivable product. [3] At first clients sent hole-punched accounting records to a Reynolds processing center, which would print a complete accounting that is sent back to the client by mail. [42]
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Software as a service (SaaS / s æ s / [1]) is a cloud computing service model where the provider offers use of application software to a client and manages all needed physical and software resources. [2] Unlike other software delivery models, it separates "the possession and ownership of software from its use". [3]
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