ChromeOS is a platform created by Google to extend the capabilities of their Android operating system to laptops (“Chromebooks”). The resulting machines have limited capabilities overall, but are very strong in their target usages scenario.
ChromeOS is specifically targeted towards online applications, especially those from Google itself. As such, they are most effective when used online with Google Docs (for document/spreadsheet) and using Google Drive for document storage. These are free for small storage requirements, though you give up some privacy by having Google scan and index anything stored on their servers. So, it is a simple and inexpensive system for many users whose needs are only web based.
All that being said, Chromebooks can be configured to use other services, for many business users, especially when the need is for Remote Desktop sessions over VPN. For example, installing VNC to access Linux and MacOS machines, or Microsoft Remote Desktop for Windows targets, the processing, local storage and physical memory requirements are more than sufficient for a pleasant user experience. Adding a USB-C Hub allows the Chromebook to be an effective replacement for a desktop system under these conditions by plugging in wired network, one or more monitors, wired keyboard and mouse.
However, for business use, care must be taken to ensure the security or business sensitive information as, by default, ChromeOS will synchronized your files, Internet History and e-mail with their servers, where the information may be mined to build profiles of the users for sales purposes.