It has pretty good Office 2007 integration. For example, Excel understands when you checked a file and you can check it (with comments) when you close it. Document management simplifies version control (although this is not required, you can use one version for each file).
In SharePoint, everything is essentially an internal list, and it’s very easy to create a custom one. In a related note, I have not used it yet, but it seems to work well with workflows and InfoPath.
On the other hand, it is pretty much a beast resource. This requires several machines with powerful specifications, especially if you want to “really” use it to manage documents and be the basis of your intranet / website. It scales to some extent, but it is not very good from my point of view.
Customization presents its own challenges. You really need people who are focused on it full time, since administration and customization require their own impressive learning curves.
Finally, some of the parts of the box are poorly implemented. Wiki is a prime example; in fact, it is useless. Therefore, you need to keep in mind that some may consider SharePoint as a holistic package as "best in class" (not to say what I'm doing!), Its individual functions are often not.
pdwetz
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