UCaaS takes the PBX, the equipment that runs an office's phones, and puts it in the provider's data centers. Atlantech Online's UCaaS page says it in one line: the phone system isn't in the office, it's on Atlantech's cloud.
The PBX decides what happens to a call. It rings a group of phones in order, forwards a call to a mobile, parks it for someone else to pick up, or plays a menu to the caller. Atlantech's Business Line card lists that kind of feature: call forwarding, transfer, hunt groups, park and pickup, and sequential ring. The voice itself travels as VoIP, which means it moves as data over an IP network.
Calling outside the company is a separate piece, and it's the one to check first. A call to a customer's mobile has to cross to the public telephone network, and that takes a connection to a carrier. Some providers fold it into the plan. Atlantech's Business Line card lists a voice trunk with unlimited local calling and unlimited domestic long distance.
Microsoft sells it apart. Its Teams calling overview says calls between Teams users are handled in Microsoft's cloud and are unlimited. Calls to and from outside telephone numbers need Teams Phone licensing and a connection to the public telephone network on top. So "includes calling" can mean two different things on two providers' pages.