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Bench-grade multimeters are much more accurate than their standard digital counterparts, making them suitable for use in laboratories, educational applications, workshops and other environments that require high levels of precision.
The bench multimeter is generally much larger than a DMM - it can still be ported from test to test, but it's much more practical to use them in a fixed, bench-based area where you bring whatever you need to test to the multimeter and not the other way around.
As they generate much higher accuracy results, the bench multimeter can be used to spot problems and occurrences that a standard DMM might miss. This high level of precision ensures that you'll get a comprehensive view of whatever you're testing.
Depending on the model in question (certain lower priced instruments may not have full functionality) a bench multimeter can measure AC/DC voltage, AC/DC current, resistance, frequency, continuity, diode and other electrical parameters.