What are some of the major considerations involved in deciding between SaaS, 3rd party solutions hosted on-premises, and custom developed solutions?

Remember to include both business-driven and technical considerations in your answer. Solution options that are not in alignment with either of these key areas are typically excluded from consideration. Senior enterprise product managers are expected to take a holistic approach to solution analysis.

"There are a number of major factors to consider when deciding what type of solution is the best fit for a client's needs. The level of importance of each factor depends on the specifics of the business, but I feel it is important to consider factors such as: how well the business and technical requirements align with each solution, whether or not a competitive edge is to be gained from customization, development and implementation timeline requirements, overall budget, the scalability of each solution, how the solution will be handled from an accounting perspective, and the in-house technical staff expertise and availability to develop and support a solution."