San Francisco (CNN) -- For Microsoft's latest version of its Office suite, the company is betting big that making documents accessible across multiple devices, a cleaned-up design and improved collaboration features will keep the product relevant to today's users. Microsoft announced the Windows 8-friendly products, Office 13 and Office 365, at a press event on Monday. It's a major overhaul meant to help it fight a shrinking PC market, free Web-based competitors and consumer influence in corporate IT departments. "In a sense, it feels to us a lot like 1995," said an excited Steve Ballmer, Microsoft CEO, at the event. The nostalgia might be for the year Internet Explorer made its public debut, but the much-repeated theme of the new version of Office is that it's the "modern Office."
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Microsoft announces its Windows 8-friendly products, Office 13 and Office 365
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Office reigns as Microsoft's most lucrative product with 90% market share of PCs
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Expanding Office to tablets may be necessary for growth
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In addition to preventing users from switching to other products, Microsoft must persuade them to upgrade from older versions of @placeholder.