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Business Computing World published a review of Microsoft Office Web Apps



A reasonable first attempt at porting its Office tools to the cloud, Microsoft's Office Web Apps concentrate on enabling users to view documents in a browser with editing something of a poor relation, especially in terms of functionality. To some extent that's understandable, with Microsoft clearly worried that it might lose revenue if it were to deliver the full Office feature set via the cloud. Nevertheless it's a little disappointing and, although a useful add-on, Office Web Apps needs more work if it's to match what the competition already has to offer.
  Microsoft Office Web Apps