1. Word: word processor | Google's answer: Writely
Most of the essential formatting tools are there; table cell size relatively hard to control.
May upload files from your computer, and download them when you're done.
Because this app is accuired, integration with Gmail is not good, yet.
User account is also a seperate account of it's own.
2. Excel: spreadsheet | Google's answer: Google Spreadsheets

Most of the essential formatting tools are there; doesn't support hyperlinks.
May upload files from your computer, and download them when you're done.
Requires a Gmail account.
3. Powerpoint: presentation slideshows | Google has no answer to this
(Hay Google, want to try this one?)
4. Outlook: mail & schedule | Gmail & Google calander

First of all, I guess everybody knows Gmail by now, the famous email service with always growing storage (it's recently about 2.7GB), simple and intuitive UI, integrated IM & calender & mapping, great spam filter, and real time notificaiton via the Gmail notifier application avaliable as a download. If you want one, I have invitations :)

This has a similar UI as Gmail, and also offers event notifications via the downloadable notifier.
May import data from Outlook and iCal.
Supports Calender sharing.
Requires a Gmail account.
Also, for notes, I'm happily using Google Notebook

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