igfxpers.exe is a process installed alongside the NVidia graphics cards and provides additional configuration options for these devices.
On UMPCs this process is essential if you run the display in a scaled resolution, i.e. any other resolution than the native screen resolution (which is 800x480 for all the 2006 era UMPCs with 7-inch touch screen displays). When you shut down/standby/hibernate the UMPC, this process will return the display resolution to 800x480 so that when it restarts the display will be synchronized with the touch screen resolution. If you disable this process, then the screen will not be dropped to the native resolution and when you restart, your touch screen and display will be scaled differently.
However this program is a non-essential process, but should not be terminated unless suspected to be causing problems.