RecWise was borne from the need to provide a ROBUST and EFFICIENT month end reconciliation tool for the big Australian BHP.
With the Enron disaster of 2001 there became a need to ensure tighter regulation concerning the month end reconciliation of balance sheet accounts. INTERNAL COMPLIANCE and EXTERNAL AUDIT became increasingly aware of the need to ensure the relevance and accuracy of the balance sheet.
versaRecman was deployed in Santiago, Johannesburg, Adelaide and Houston. In recent years the process has been amalgamated into one instance based in Kuala Lumpur.
Before being commercially released RecWise was formerly known as versaRecman or just Recman.