I used Google Docs for doing an inventory, share presentations, specially if someone is away of the office or in another place, love it, perfect to work from home
You don't need office in you computer, therefore cheaper.
On the other hand if you don't have Internet or you like to work offline, the only option is to have the Office software on your computer.
About the other options open source or open office I haven't use tried, I'm not sure about download software in my work laptop, maybe latter.
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