Final answer:
The cloud has shifted HR software from being a managed product to a consumed service, embodying the SaaS model. This facilitates scalability, reduces maintenance costs, and supports remote accessibility with continual updates and customizable features.
Step-by-step explanation:
The cloud has repositioned HR software from being a product that needed to be internally managed and maintained by an organization's IT department, or as a product to be managed, to a more flexible and scalable solution as a service to be consumed. With cloud-based HR software, organizations no longer need to purchase and license software in the traditional sense; instead, they can subscribe to HR services on a pay-as-you-go basis. This modality of software delivery is known as Software as a Service (SaaS), and it allows companies to access their HR systems via the internet, which translates into reduced overhead costs for hardware and software maintenance.
Cloud computing has enabled vendors to offer HR solutions that are continually updated, have better integration capabilities with other systems, provide advanced analytics, and are accessible from anywhere, at any time, facilitating remote work environments. Additionally, cloud HR solutions often come with user-friendly interfaces and customizable features to meet the dynamic needs of businesses, which underscores the transition from as a product to be licensed to as a service to be consumed.