This paper outlines the challenges, tradeoffs and total cost of ownership (TCO) for implementing Microsoft Exchange on-premises using a Dell Blueprint reference architecture vs. using a cloud model in a specific scenario. This is a complex decision that impacts the entire organization, as well as customers and suppliers. If you, too, are at an email decision crossroads, this guide is for you. We have two goals in this paper: 1) To help you prepare for a conversation with your internal stakeholders about the tradeoffs involved in on-premises and hosted Microsoft Exchange and 2) to provide you a methodology to weigh the relative four-year costs of these two models.