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Wednesday, April 11, 2012

A Transaction Processing System (TPS) is useful for Business Organisation to process large amount of paper works in a convenient way

A Transaction Processing System (TPS) alias data processing system generate great support for organization to process large amounts of paperwork. TPS(s) are mostly applied while producing or recording pay checks, invoices, customer statements, student tuition bills and payment reminders. A TPS is useful for the large companies who engage in huge transactions every day. The system is widely found in a business’s accounting/billing department and utilized by lower level management, supervisors and operations personnel.

The main function of a TPS or data processing system is to effectively and efficiently automate the process of the large amount of paper work and record any transaction as well as content.

A TPS records internal and external transactions for a company. It is a storehouse of data that is recurrently accessed by other systems.

TPS(s) take the entire transaction process full circle by amalgamating together the entire financial system, factory, customers, and suppliers within a business from beginning to end.

The transaction processing system is also very useful for a departmental to keep record of purchases, arrange billing and booking of order from suppliers and interconnect these tasks into an accounting system in general.

There are six steps in processing a transaction. They are dataentry, data validation, data pro- cessing and revalidation, storage, -output generation, and query support.

TPS be present for the different functional areas in an organization, as for instance finance, accounting, manufacturing, production, human resources, marketing quality control, engineering, and research and development. Now-a-days many companies are likely to create cross-functional TPS to support the free exchange of information among diverse business units.

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