Peter Ellis: While Software as a Service is far more prevalent than ever before in the asset management space, SaaS is not a new concept. So perhaps we can start by discussing the material differences between the “old” and “new” age of SaaS. Can you expand on this point, please?
Kathleen Keenan: Sure. Let’s start with a clear definition of SaaS. In its most basic form, SaaS is a web-based application that is hosted by the software provider, but there is much more to it than that.