Is this for enterprise or home purposes ? If it's for home purposes, I could suggest trying word online, etc. That way, this is stored in OneDrive. An alternative could be use google docs which is stored in google drive. However, these offers more basic features than the installed version of office. Alternatively, you could just install google drive on your computer and just store all your office 365 files there, if you wish to use the full version of office 365. This, however, depends on the amount of storage you wish for ?
Just alternative suggestions I am sure you may have been doing so far, I have however never tried Veeam Backup, but personally I am not comfortable inputting card details in case I forget to cancel, etc. Not sure it worth the payment either but depends on your needs, I suppose.