Outlook's calendar, what functionality does Exchange provide?

[mikeymikec]

That Outlook can't do itself, that is.

I understand that Exchange is a mail server package and its preferred protocol is its own proprietary one, similar-ish to IMAP.

 

[MrChad]

Exchange allows you to check others' availability when scheduling meetings. You can also set up resources (rooms, projectors, etc.) and reserve those items directly in Outlook.

 

[Mushkins]

Also exchange provides the global address list, a master directory of all users and resources on your exchange server. In essence, centrally managed shared contacts: update the phone number in the GAL and everyone gets the phone number update, add a new user, everyone gets the new user listed in the GAL. This thing is a lifesaver in any mid-size business or larger.