Risk management technology provider Razor Risk Technologies (ASX:RZR) has revealed it is seeing an upswing in demand for its products in FY11.
In the company's FY10 annual report, CEO Andrew Wood and Chairman Ellis Bugg said its clients in the financial markets are beginning to regain their investment confidence.
As a result, they are making budget allocations for the enhancement and replacement of risk management system.
The imminent introduction of new legislation set to change the way financial institutions operate is also creating a strong incentive for the clients to review how they measure and manage risk, they added.
Razor Risk reported a 3% increase in net profit to $1.6 million in FY10. But revenue was 22.6% lower at $18.3 million.
Join the CIO Australia group on LinkedIn. The group is open to CIOs, IT Directors, COOs, CTOs and senior IT managers.