Office 365 is essentially Microsoft Office in the cloud. It essentially lets you have all the functionality of Microsoft Office suite of applications, such as Word, Excel, PowerPoint, OneNote, Access, Publisher, Outlook via the Internet. Therefore you can use Microsoft Office products on any mobile devises, Mac or other operating systems. The small to medium sized enterprise version also includes access to SharePoint and OneDrive (formerly SkyDrive). Depending on the version you purchase you can also have local copies of Microsoft Office and Lync available. (Lync is Microsoft online meeting and communications application).
For small businesses who don’t want the maintenance of regular business server or Microsoft exchange server, Office 365, provides the functionality of a networked environment without the expensive hardware and software costs. Because it is cloud-based it also means no more upgrading since Office 365 will always be up-to-date. Once 365 is set up then it can be managed by an administrator or IT support staff.
Learn more information on pricing plans and features.