In a PAMaaS model, your PAM software is deployed in the cloud.
Instead of incurring the expense and resources of installing PAM on premise, you can rely on your PAM vendor to manage hosting and updates. In a fully outsourced PAMaaS model, a third-party vendor provides managed services to create, manage and monitor activity on your privileged accounts.
More PAMaaS resources:
Blogs
PAM in the cloud vs. PAM for the cloud. What’s the difference?
eBooks