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SAP (Product)

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DEFINITION: SAP, started in 1972 by five former IBM employees in Mannheim, Germany, states that it is the world's third-largest independent software vendor. The original name for SAP was German: Systeme, Anwendungen, Produkte. It means "Systems Applications and Products." The goal of the company was to provide large enterprise customers with the ability to interact with a corporate database in real-time.  … 
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SAP (PRODUCT) DEFINITION (continued): …  Today, the company states that its goal is "to offer the industry's most comprehensive portfolio of business performance and optimization solutions for companies of all sizes." SAP's first software application was a financial accounting software suite that ran on a mainframe and was known for its stability. It eventually became known as the R/1 system. The "R" stands for real-time. During the 1980s, the company went international, and the second iteration of the R system (R/2) accommodated different languages and currencies. In the 1990s, the third iteration (R/3) moved … 
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