The device connects to the system via HDMI and becomes an "external microphone with camera and loudspeaker" - all configurable in the system settings. This should make the device compatible with Teams.
As far as I know, it is not clear what will happen with Skype (only because one licence has expired) and there are certainly other alternatives besides Teams from MS.
We use
https://gotomeeting.com - it works perfectly with ConferenceCam.