windows-7 - Connection timed out issue in cfexchangeConnection

Question

I have windows 7 (32bit), ColdFusion 9 installed on my PC.
My email account is configured in outlook 2007 and it is working fine. But when I try to connect to an exchange server using cfExchangeConnection it is not getting connected. It is giving me an error saying:

Error connecting to the server mail.domain.com.
Error message from the server : Connection timed out: connect.

My cfexchangeConnection code is:

<cfexchangeConnection 
    action="open" 
    username="name@domain.com" 
    protocol="https"  
    password="email_password" 
    server="mail.domain.com" 
    connection="conn1">

I have tried cfmail and it is working. How can I make cfExchangeConnection work in ColdFusion9?