Office 365 Business, Business Premium, Enterprise E1, E3, and E5. Each of these Office 365 plans offer different features and services. Implement the wrong one, and you may end up with a solution that doesn’t fully meet your RIA firm’s needs. To help you select the right Office 365 license, we’ve summarized and listed the different features of each plan.
Business or Enterprise?
If you’re running a cloud-first RIA firm, you’ll have to decide between Office 365 Business and Enterprise. Both have access to Office Online and OneDrive, but there are some notable differences between the plans.
For one, Office 365 Enterprise E3 and E5 plans have unlimited archive and mail storage space, while Business plans have a 50-GB storage limit and don’t provide archive access from the Outlook client.
When it comes to SharePoint, Business plans are short on enterprise search, Excel services, and Visio features. Additionally, unified communication solutions, Power BI, and Delve analytics are also missing from the Office 365 Business offering.
Although it may seem like Enterprise subscriptions are superior — and in some ways they are — Business plans are perfect for smaller companies running on a tight budget. Office 365 Business and Business Premium cost $10 and $15 per user per month respectively, while E5, the biggest Enterprise plan, costs $35 per user per month.
As a general rule, start looking for Enterprise plans when the employee headcount at your RIA firm exceeds 50 people and users require more storage space and solutions.
E1, E3, or E5?
If you do opt for Office 365 Enterprise plans, you’ll have to examine the features and choose one of three plans (E1, E3, and E5) that suits your needs.
E1 offers basic enterprise solutions such as Outlook and Word, OneNote, PowerPoint, and Excel online for only $8 per user per month. Apart from this, users also get access to SharePoint Team sites, video conferencing, and Yammer for enterprise social media.
E3 provides all E1 features plus data loss prevention, rights management, and encryption to ensure business security and compliance. While E5 is a full enterprise-grade solution with all the aforementioned features plus analytics tools, advanced threat protection, flexible Skype for Business conferencing, and unified communication solutions.
Small- and mid-sized RIAs will usually select either E1 or E3 subscriptions and decide to add third-party applications to meet cloud security and VoIP demands. But if you have the resources and prefer a fully-managed suite of Microsoft applications, E5 plans are the way to go.
Migrating to an Office 365 platform is a big step, and if you’re still undecided about which plan to opt for, contact us today. We don’t just provide Office 365, we assess your business and find the best solution that meets your budget and objectives.