Co-authoring

There is a great feature made possible using SharePoint called co-authoring. Co-authoring will allow a team of people working together to work on a document simultaneously. Each user can see who is currently editing and which part of the document they are working on in real time. This feature will save the headache of emailing back and forth a document and attempting to draw together the most recent information.

http://www.talkingoffice365.com/day-17-co-authoring-in-office-365-helps-meet-proposal-deadlines-when-working-in-a-group