365 Licensing

Hi,

We are an SME company with around 40 users we currently use the following license breakdown

All Users - Office 365 E3 + EMS E3
Admin Accounts - Intune P1
C-Suite - Office 365 E5 + EMS E3 + Power BI + Teams Enterprise

I am looking at the following options

Switch the Office E3s to Business Standard and Keep EMS E3 OR
Combine the Office E3s and EMS E3s to Business Premium.

The only real difference appears to be the decrease in Onedrive, Sharepoint and Exchange plans from P2 to P1 but I can not find what differnce this actually makes. What are your thoughts.?