SharePoint provides a centralised resource for documents, templates, policies and procedures. Real-time document collaboration allows multiple people to work on documents together without having to work on separate files. Because SharePoint keeps a version history, this removes the requirement for multiple file name revisions as people make their edits. Version history allows an author to open up a previous version of their document, whenever they need to revert back to a previous iteration of the document.
SharePoint is secure web application for document management and collaboration but as a platform it can be developed and extended to become anything. It’s included with Office 365 but can also be purchased separately.
At its simplest, SharePoint is a secure way of finding, sharing and collaborating on information. While most companies will use it for document management, it is worth knowing that it can be developed and extended to address a wide variety of business challenges thanks to its flexibility.