It gives you a visual list of your voicemails and indicates who they are from (the phone number or, if it's someone in your contacts, the name of the person). You can then listen to them in whichever order you want by clicking on them, instead of listening to them in order like you have to do with regular voicemail. The sound files are saved on your BB, so you can listen and re-listen to them any time without dialing into your voicemail.

That part of it is free. If you get the transcription service, which is $10 a month for up to 40 voicemails, you also get a transcript of each voicemail.

I took it one step further by having the transcripts sent to my Gmail account (no additional charge...you can also have them sent by SMS but then they would be subject to whatever limits you have on SMS messages). My Gmail account then segregates all of them under a special voicemail label. This way, if I need to find some piece of information, I can open up my Gmail account and search my voicemails for whichever piece of text I'm looking for. This has come in handy several times.