There is another thing that goes in favor of SaaS: Capex vs Opex. Most of these expenses are tax-deductable, so from a bean-counting point of view the number would have to be a lot higher than the sticker price.
But when I say "hire someone else to do it", it wouldn't have to be an employee. It could be a consultant, it could be a third-party IT support service. I really don't think that this kind of work would require a FTE. You'd be hiring someone to get the initial setup and you'd just run a support contract for the solution to ensure that things keep going. I think such a system you could be paying less than what the vendor charges and you also get more control over your operations.
But when I say "hire someone else to do it", it wouldn't have to be an employee. It could be a consultant, it could be a third-party IT support service. I really don't think that this kind of work would require a FTE. You'd be hiring someone to get the initial setup and you'd just run a support contract for the solution to ensure that things keep going. I think such a system you could be paying less than what the vendor charges and you also get more control over your operations.