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LONDON - Acuity RM Group plc (AIM:ACRM) has narrowed its focus to the cybersecurity sector and implemented significant cost-cutting measures, according to a company statement released Friday.
The provider of the STREAM software platform for Governance, Risk and Compliance (GRC) has purged and begun rebuilding its sales pipeline to concentrate specifically on cybersecurity opportunities, moving away from its previously broader risk management approach.
The company reported that its recent participation at the Infosec trade show in early June generated "a record number of actionable leads" compared to previous trade show appearances.
Acuity has implemented several efficiency improvements, including new marketing processes with AI components designed to identify organizations interested in cybersecurity solutions. The company expects these changes to reduce sales cycles and improve conversion rates.
Cost-cutting efforts have already achieved £400,000 in annual savings, with an additional £300,000 in reductions expected by year-end, according to the statement.
The company also announced changes to its leadership structure. The Chairman role has reverted to a non-executive position as of June, with a salary of £60,000 annually, one-sixth of which will be deferred until December 31. The company’s two other non-executive directors will continue to receive £15,000 annually, with their entire compensation deferred until year-end.
Acuity noted that all deferred compensation, after taxes, will be invested in company shares.
The statement indicated that while the company has implemented numerous changes over the past five months, it still has "much to do" as it works toward cash-generative trading by the end of 2025.
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