In 1992, Garantiqa Hitelgarancia Ltd. (Garantiqa) was founded by the Hungarian state, the most important domestic commercial banks, savings co-operatives and some associations of entrepreneurs, in order to act as a catalyst which provides financial guarantee for domestic SME’s, as well as lending for future organizations of employee share ownership programs.
In 2000, R&R Software implemented financial and accounting components of VERK/400 ERP system for Garantiqa which is integrated with the guarantee management system. Since then the financial and accounting system was upgraded and expanded with new components; such as a business analytical data warehouse.
