As an IT consultant, list the advantages and challenges of maintaining an on-premises software environment for Zindan Ltd while transitioning to a hybrid IT model.

On-premises software is a type of software delivery model that is installed and operated from a customer's in-house server and computing infrastructure. Also meaning, thereby that subsequent maintenance, repairs, safety, and further updates are all handled on-site. It just needs a licenced or purchased copy of software from an independent software provider and makes use of the natural computer resources of the company. Software installed on-site is also referred to as shrink wrap. After buying software, the company often installs it on its servers, connecting relevant database software and configuring operating systems accordingly. Since there is no involvement of any third-party, the company has full ownership and responsibility. On-premises software is the most prevalent, traditional method of using enterprise and consumer applications. On-premises software typically requires a software license for each server and/or end user. The customer is responsible for the security, availability and overall management of on-premises software. However, the vendor also provides after sales integration and support services. Because it requires onsite server gear, capital expenditures for software licences, onsite IT support employees, and longer integration times, onsite software is more expensive than on-demand or cloud software. On-premises software, however, is regarded as being more secure because the full instance of the software stays on the organization's grounds. In the past, on-premise software was the only solution available to companies. Today, that's changing, as more and more off-site solutions become popular, and cloud computing becomes the standard. There is now agreement amongst IT professionals that companies can't solely rely on on-premise applications. In any case, a mixture of off-premise and on-premise solutions, also known as a hybrid IT environment, will be the way forward. There are advantages of using it which includes full control over security and compliance; at the same time there are challenges which include higher costs, maintenance burdens, and integration complexity with cloud systems.