I don’t really have deeper knowledge why it was added in the first place. It seems to me a historic relic that no one has bothered to change yet (as it’s mostly cosmetic). I think in a multi-company setup it can be useful to differentiate between different entries if they otherwise had the same name. However in my opinion, one should be free to adjust the entire name and just add it the way it is wished/must appropriate (with our without abbreviation, in front/back of the name, different separator etc.) would be also interested to learn more about its background.