Is there a different program other than iTunes to wipe an iPhone?

I'm a bit of a genius when it comes to BlackBerrys, but I've been asked to look at my friends iPhone 4 and it's left me a bit lost…

It has a problem, it says "connect to itunes" and every now and then it says "activation required". I'm looking for a program like BBSAK (BlackBerry Swiss Army Knife) to just make life a little bit more simple, all i want to do is remove the current OS on the iPhone and re-install a new one and essentially wipe the device/restore factory settings.

Is there anyone or anything that can help me?

Go into settings and stalk the tabs for factory reset, i know its in one of them somewhere