The lines between local computing and cloud computing sometimes get very, very blurry. That's because the cloud is part of almost everything on our computers these days. You can easily have a local piece of software (for instance, Microsoft Office 365) that utilizes a form of cloud computing for storage (Microsoft OneDrive).
That said, Microsoft also offers a set of Web-based apps, Office Online, that are Internet-only versions of Word, Excel, PowerPoint, and OneNote accessed via your Web browser without installing anything. That makes them a version of cloud computing (Web-based=cloud).