RiskTech Forum

Record Year For Reconciliation Specialists Watson Wheatley Financial Systems

Posted: 6 December 2012  |  Source: Watson Wheatley


With 2012 drawing to a close Watson Wheatley Financial Systems (WWFS), the reconciliation specialists based in Oxfordshire, UK, reported the last 12 months to have been their most successful to date. The last accounting year saw profits up and turnover increasing by 53%; WWFS also expanded taking on new staff and invested heavily in the technology required for their next major release.

WWFS Director Duncan Wheatley commented “We are extremely pleased with the progress WWFS have made this year. We have seen a number of implementations successfully completed, record interest in our software and we have strengthened our development team to deliver the next version of i-Recs. With interest in our products at an all time high and strong financials we expect to expand further in 2013 both in the asset management market as well as with commodity traders”.
“We see the requirements of the markets changing. Even smaller hedge funds and asset managers are now requiring solid, fast and powerful reconciliation to satisfy auditors, clients and investors. Larger companies are demanding cost savings and consolidation of existing reconciliation processes. We are also seeing a clear rejection of indifferent service and costly ageing systems offered by some of the more well known vendors. We expect the trend away from traditional vendors to a new breed of reconciliation tools from bright innovative companies to accelerate” continued Duncan Wheatley.