This Plugin by Google Drive Lets you Edit And Save files Directly from Microsoft Office
Dropbox has already integrated its service in MS Office and one can easily pull Dropbox files directly to the desktop, the same is the case with the iOS and Android apps for Dropbox and MS Office. One can easily work with either apps to edit/create files on the go with ease.
Using the new Google Drive Plug-in you can open any Google Drive document/files in MS Office Applications like Word, Excel and PowerPoint. All the changes in these files done in the MS Office Application will be saved directly to Google Drive.
This Google Drive feature is likely to avoid losing users to Dropbox as its integration is being well applaued by Cloud users. You can download and try the new plugin from Google here.
Source : Official Google For Work Blog | Introducing The Google Drive plug-in for Microsoft Office
