Enterprise applications Toolkit
Story: Microsoft announces browser-based Office apps
Docs in the cloud.
Good points, but in practice documents are far less likely to be lost, damaged, or overwritten by old versions when they are stored in the cloud.
Google Docs is amazing, and, if paid for, support is provided. I really don't care that Word documents lose fidelity when run through the system as I don't use client -side word processors any more.
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