Excerpt: This is the current latest version of Microsoft Office, it has a very new and somewhat sinister edge to it in that it is now a item that comes with a licence to allow its use for 12 months after that you need to pay to keep using it.
Microsoft Office 365: The suite of cloud-based business applications offers definite advantages -- if the rough edges can be smoothed out.
Good Gear Guide.au
17 June 2012
Summary: Companies that want an all-in-one suite of the hosted versions of Microsoft's communications and collaboration servers should take a look at Office 365. It's a compelling offering, particularly for small and midsize companies.
Pros: more powerful than its chief competitor, Google Apps...
Cons: ...but more difficult and confusing to use as well
Summary: Microsoft's cloud-based Office productivity environment, Office 365, is the future model for users of the company's Office suite of software. Firms will still have to carry out administration, but less so than with an on-premise set-up.
Pros: Office Web Apps great for flexible and home workers and IT professionals on the road; administrative tasks such as SharePoint site and Exchange email archiving disappear.
Cons: Navigation between certain admin web pages needs some attention For example, we couldn't get from the Team Site to the Admin webpage; Office Web App save options were inconsistent – we could save Excel files with a different name, but not OneNote, PowerPoint, or Word documents.