It really depends on what you actually need, how much setup the IT department can manage and how well the change is communicated and managed, I guess.

We use it (i.e. the Element client) mostly for chatting and another open source solution (BigBlueButton) for online meetings, but voice and video calls are possible directly with Element. Matrix lacks the out of the box office product integration for collaborating on presentations, spreadsheets or text files that Teams has. It can be extended via widgets though, which includes at least etherpad and afaik there are options for nextcloud (which has collabora) integration as well, so with a bit of setup, even that could be emulated.

So that would of course require some setup and maintenance and if the company used Teams before, some training and help for the users as well.

I’m trying not to dox myself, but it’s a university in Germany. :D

I’m so glad we use Matrix at work. Our IT department even tells us explicitly not to use Teams if we can avoid it.