Office 365 User Guide
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SharePoint 

SharePoint is Microsoft's original collaborative work space and has been around even before its initial release as SharePoint in 28 March 2001. SharePoint was added as a service to Office 365 and renamed SharePoint Online. Since then, it has evolved into its own evergreen version during the life of SharePoint 2013 and on a life of its own, widely diverging its capabilities from the SharePoint on-premises versions of 2013, 2016, and 2019. Still, SharePoint Online has capabilities above and beyond those offered by Microsoft Teams and is the backbone for Microsoft Teams. This service gives you the ability to share documents and manage projects, like Microsoft Teams, but also to create online forms, dashboards, automated workflow, and much more.

In SharePoint, your organization starts off with 1 TB of storage space, which can be upgraded to as large as 25 TB. SharePoint Online is included with the Business Essentials, Business Premium, E1, E3, and E5 plans.