There are also tools for migrating in-boxes from a company's server-based version of Exchange to the Office 365 cloud-based version. These tools won't work for people who have been using Outlook in concert with POP3-based mail, though. There is a migration tool for IMAP accounts, although that requires a bit of extra work.

You'll also find a variety of more sophisticated tools as well -- for example, you can set group permissions for performing tasks such as allowing people to search across multiple mailboxes. In short, you get the kind of administrative tools you expect with Exchange, even though you don't host Exchange yourself.

Unfortunately, this is also one of many examples of the poor overall integration in the Office 365 beta. When you're on the pages for managing Exchange, there's no navigation to any other part of Office 365 -- essentially you're in a silo that appears to be a dead end. You have to navigate back to Outlook, and from there use site-wide navigation. This is a problem that appears time and again throughout the suite.

Office 365 also offers a hosted version of SharePoint, which allows you to build team sites where everyone in your organization can collaborate on documents and share a common document library.