On Prem or "on premisis" is the opposite of cloud in the sense that the product lives with the client, spounging of the food, water and electricity supplies of your customer, just kidding, its not a teenager but it has some similarities, on Prem can lead to limited supportability but at least you can keep a closer eye on your product.

Cloud, it's in the cloud, it's not your problem, just make sure you throw money at it because it will be phoning home asking for rent money every single month!