SAP stands for Systems Applications and Products in Data Processing.
It was founded in 1972 by Wellenreuther, Hopp, Hector, Plattner and Tschira.
SAP by definition is also name of the ERP (Enterprise Resource Planning) software as well the name of the company.
SAP system comprises of a number of fully integrated modules, which covers virtually every aspect of the business management.
SAP is #1 in the ERP market. As of 2010, SAP has more than 140,000 installations worldwide, over 25 industry-specific business solutions and more than 75,000 customers in 120 countries
Other Competitive products in the market are Oracle, Microsoft Dynamics etc