Microsoft announced their new component in the Office system ‘The Office Web Applications’ at the PDC 2008. These would be available as a part the next version of Office which would be Office 14. The Office 14 for web is a group of light weight, cross platform, cross browser versions of applications like Word, Excel, PowerPoint, One Note etc.
Office Web Applications are all about giving people access to their familiar Office applications even when they are away from their desktop. So this does mean that in the next release what you would need to make a proposal document is just a browser.
Check this cool video where Antoine Leblond from the Office group introduces to some of the features of Office 14 for Web.
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