I've been looking online and various sources say different things - so I thought I'd put it to you lot 
Is is fair to describe a SaaS application, e.g. a vendor hosted CRM application - as a cloud solution? Or is this misuse of the term cloud?

Is is fair to describe a SaaS application, e.g. a vendor hosted CRM application - as a cloud solution? Or is this misuse of the term cloud?