Office 365 and Microsoft 365 are subscription based services offered as part of the Microsoft Office product line. There are a variety of plans that allow use of the Microsoft Office software suite over the life of the subscription, as well as cloud-based Software as a Service (SaaS) products for business environments, such as hosted Exchange Server, Azure Active Directory, Microsoft Teams, and SharePoint, among others.
All Office 365 plans are Evergreen in that they include automatic updates to their respective software at no additional charge, as opposed to conventional licenses for these programs, where new versions require purchase of a new license.