Each channel within the team receives its own document library. Every team member has the same authoring and editing privileges with all the files. There are no more unique permissions when it comes to files and folders.
- Office files [Excel, Word, PowerPoint, etc] can be edited in real-time with colleagues. Once the document is uploaded or created in the library, it can be opened by everyone simultaneously.
- The files tab is a representation of a SharePoint Online document library. At the top of the teams page with the files, is an option to Open in SharePoint.
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- Opening in SharePoint has several advantages for advanced users. There are ways to integrate workflows, advanced sharing, and additional column support.