Also known as HaaS. A procurement model akin to leasing under which businesses pay a periodic fee (usually monthly) to use hardware devices. Typically, the hardware is provided by a service provider as part of a package that also includes software, maintenance, monitoring, and perhaps installation, along with a service-level agreement. HaaS is becoming an attractive option for many businesses, especially SMBs, given the rapid depreciation of hardware. With HaaS, hardware becomes an ongoing operating expense (OpEx) rather than a capital one that’s paid up-front (CapEx).