[Q] What "Exchange Services" is actually for?

(rooted i9500, Android 4.2.2)

I've just spent an hour or two browsing the web looking for some factual information on what this service is actually for. I found lots of threads for it, people speaking about draining battery because of it, I found a lot of threads that had discussion on "exchange emails" and some microsoft services, but also about imap's and pop's, but not single thread that actuall says what this service is for, which could give me information if I could disable it.

Till now I thought this is a very important background service from google, that has crucial role in all sync operations (callendar, contacts, email including gmail) etc, and if I disable it, all this syncing will stop. But I'm starting to think differently, as I just disabled this service and did a little check by sending myself an email, and the galaxy received it instantly.

So, can someone knoledgable tell me exactly what this service is about?

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