ChromeOS is not as feature filled like full OSs such as Windows, Linux, or MacOS. This is most noticeable when you need to use utility software. File management in particular needs work. There are also some strange omissions, for example there is no utility to record sound clips.
Having said this, most of the utilities you need are preinstalled. There is a good text file editor, calculator, media player, PDF viewer ready to go. The file manager is basic, but serviceable. It only displays a single pane, but you can copy, rename, move and delete files on the device and on Google Cloud storage.
To access files on MS OneDrive I need to use Chrome to access the OneDrive site. OneDrive can upload/download file from local storage, but it is not the smoothest process.
Luckily ChromeOS can run Android utilities. There is a Google Play Store app installed by default. I have used a couple of Android apps to add functionality. Simple Voice Recorder is a great utility to record sound clips. I use Writer+ to edit and read Markdown files. Of course there are many cloud based utilities that can be accessed through Chrome. Extensions can be added to Chrome to add functionality. I have added an epub reader and Wikipedia viewer to Chrome.
To sum up I would give a stock Chromebook a B+ on utilities, but the deficiencies can be resolved easily enough.