Yes, the software is somehow an alternative to the Microsoft Outlook package. It also allows you to integrate Microsoft Outlook email (eg. Live Mail). I've also checked various websites listed through Google Search, but couldn't find anything related to 100 % Microsoft Office package integration, and in my opinion, I don't even think this will happen in the future since they are two completely different applications although they work in the same way.
I recommend you read more about it on the following website: https://www.wps.com/wps-office-business