SAP Central Process Scheduling by Redwood (SAP CPS), is an event driven process scheduler incorporated into SAP ERP components.
SAP CPS is now a standard component of the SAP NetWeaver platform. It's designed to allow users to centrally automate and manage background processes and automate business applications running on SAP NetWeaver. These applications include SAP Solution Manager and SAP Closing Cockpit, which use the SAP CPS component with cross-system and non-SAP applications.
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SAP Central Process Scheduling Wikipedia(Text) CC BY-SA