20th Jan 2021 11:51
(Alliance News) - Drumz PLC on Wednesday noted that investee Acuity Risk Management Ltd has significantly upgraded its Stream Integrated Risk Manager product.
Shares in Drumz were up 11% at 0.75 pence in London in late morning trading.
Beaconsfield, Buckinghamshire-based software business investor Drumz has a 20% stake in Acuity Risk Management, plus an option to acquire up to an additional 5% stake.
The "significant upgrade" to version 5.7 of Stream includes the ability to allow an unlimited number of users to interact with the software across the businesses and supply chain through easy-to-use webforms.
"Where previous versions were used primarily by specialist teams, this innovation allows Acuity to supply an enterprise version enabling it to compete for contracts with the largest organisations," said Drumz.
Another change is that version 5.7 integrates with Microsoft Corp's Azure cloud computing service.
Drumz said Acuity Risk Management has already signed a contract for the new version of Stream "with a launch customer, a British television broadcaster" with other negotiations in progress to upgrade existing UK and North America customers along with "new business activities".
"Acuity's sales team believes these new features will greatly increase the appeal of Stream to larger organisations and combined with the established competitive advantages of speed and ease of deployment will assist them to win new and larger contracts. This should assist with increasing the average revenues per account," said Drumz.
By Anna Farley; [email protected]
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