Explain the importance of the following terms under Performance Management Information System. (5 marks)
i) Transaction Processing System.
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A Transaction Processing System (TPS) is a type of information system that collects, stores, modifies and retrieves the data transactions of an enterprise. Transaction processing systems offer enterprises the means to rapidly process transactions to ensure the smooth flow of data and the progression of processes throughout the enterprise.
ii) Enterprise Resource Planning System.
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Enterprise Resource Planning (ERP) is an industry term for the broad set of activities that help an organization manage its business. An important goal of ERP software is to integrate back office business processes and facilitate the flow of information within an organization so business decisions can be data-driven.