Configuration Profiles are created by the iPhone Configuration Utility and contain, in XML format, a list of configuration settings to apply to an iOS Device. Once a Configuration Profile is installed on the device, these settings remain in effect until the profile is removed from the device.
The type of settings contained in Configuration Profiles don't just apply to iOS devices in an Exchange Server environment. You can use Configuration Profiles to deploy settings for the following:
Passcode restrictions
Device functionality restrictions
Application restrictions
Security and Privacy settings
Wi-Fi Access Point settings
WPN settings
POP3 and IMAP account settings
Exchange ActiveSync settings
Generic LDAP server settings
CalDAV server settings
Calendar Subscriptions
CardDAV/Contact server settings
Homepage web links or web clips
Certificates and credentials
Certificate Enrolment (SCEP) settings
Apple Mobile Device Management server settings
Advanced settings...