Today's business applications are not flexible enough to keep pace with the businesses they support. Users must figure out where to find information, located in isolated silos, that supports their tasks; the IT costs of keeping up with evolving business requirements remain high. Adding collaborative Web 2.0 technologies, such as enterprise search, presence, and mashups to business applications is increasingly seen as a way to address these challenges both for business users and IT alike. Yet while many business users are familiar with these technologies through personal use, they remain uncertain about how these new capabilities can support their business strategies. This white paper details how Web 2.0 technologies support business strategies by improving efficiency and productivity as well as harnessing knowledge through collaboration. They also reduce IT costs by simplifying integration and improving IT administration and maintenance.