The File Management features simplify the handling and sharing of Excel workbooks. Tools like Save a Copy Without Links and Export Worksheets to Files allow for secure and efficient file sharing, removing external dependencies. Import Files to Worksheets consolidates data from multiple sources, while Open File Location and Duplicate Sheet improve workflow by streamlining file access and management. Calculation options optimize workbook performance by offering manual and automatic calculation modes, catering to the needs of large and complex datasets.