Magento is a feature-rich, professional open source e-commerce web application that was launched on March 31, 2008. Magento offers merchants complete flexibility and control over the look, content and functionality of their online store. Magento’s intuitive administration interface contains content management, powerful marketing and merchandising tools to give merchants the ability to create sites that are fully fit their unique business needs, putting no constraints on business processes and flow.
Software as a service (SaaS) is a software distribution model in which a third-party provider hosts applications and makes them available to customers over the Internet.
SaaS removes the need for organizations to install and run applications on their own computers or in their own data centers. This eliminates the expense of hardware acquisition, provisioning and maintenance, as well as software licensing, installation and support.