With the unveiling of its latest version of Office, at a press conference in San Francisco, software giant Microsoft is creating big waves once again. The latest version of the revamped Office sports a new look, which is in the line with Windows 8 and Windows Phone 8.

This time Office is back with an extra bang.  It's not merely a software bundle, but also offers new features of cloud integration using SkyDrive. Using this feature you can sync key settings across multiple devices after logging into SkyDrive. Moreover, the new office also incorporates Skype - the video-calling service that Microsoft had recently acquired. Skype, the voice-over IP service, will help you in collaborating on various documents through video conferences.

During the launch, Microsoft CEO, Steve Ballmer commented that this has been the "most ambitious" version of Office until now. He also said that it represented a "new generation" of one of the Microsoft's most profitable products.

The new Office has been designed as a service first to ensure that the programs run easily on multiple devices that are connected to the Internet. What's more, the new Office is also equipped with touchscreen capabilities, where you will be able to use taps, swipes, and various other gestures that help create presentations. Additionally, there is also an option to make presentations using a stylus. The office suite is chiefly tailored for touchscreen devices.

Microsoft also unveiled a new version of its notetaking app - OneNote, which will comprise touch, pen, and keyboard input.

Referring to Microsoft's Windows 95 OS, Ballmer said "the Windows 8 launch is right around the corner, and we have a lot to do ... In a sense, it feels to us a lot like 1995."

Windows is so far one of the majorly used computing platforms. The office applications are also used by majority of people across the globe. Thus, Microsoft has a lot riding on this fifteenth version of Office. The last time when Microsoft had updated Office and incorporated the online versions was in 2010. The new version is expected to reach the market during the beginning of 2013.

For those of you who are waiting to get the first look, A preview version of the new Office suite is being made available online at https://office.com/preview. Microsoft is yet to announce the day when it will be in market for sales as well as the price.