Software-as-a-Service, a new model of accessing software presents individual users with tremendous opportunities to work and live conveniently and efficiently. However, the challenges that come with SaaS are equally highlighted and deserve careful attention from researchers. Among them, privacy has emerged as the key inhibitor of SaaS adoption and use among individual users. The purpose of this study is to understand the specific privacy concerns that inhibit SaaS adoption and analyze the key benefits that are weighted against such privacy concerns by individual users in their decision process of using SaaS. We expect this study to have both academic and practical implications. For researchers, this study will provide an empirically-verified framework focused on privacy issues and key benefits specific to SaaS at individual level which, to the best of our knowledge, has not been developed. For SaaS providers, this study will enhance their understanding on the most salient privacy issues raised by individual users and how to address them by increasing the key benefits driving adoption. Consequently, SaaS providers will be able to develop user-centered services that minimize their privacy concerns and maximize their benefits.