Innovative Technology: expanding presence in Russia - Information portal

Innovative Technology: expanding presence in Russia

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Innovative Technology: expanding presence in Russia

Interview with Tony Morrison, commercial director of Innovative Technology

We have been working in Russia for a few years now, with dedicated Russian sales and support staff - to look after Russian people in the Russian way. The Russian retail kiosk / banking sector is very interesting to us as a business. Over recent years we’ve seen some real positive growth in this area. We’ve got very good customers, loyal customers, who like the way Innovative Technology do business. A lot of that business is based around the service we provide; providing good reliable products, credible alternatives to our competitors in the market. Our business in Russia has grown by around 20% over the last 3 years.

So it’s really positive. I think a lot of that growth is due to our product range. We are able to offer some new and interesting solutions to the market. We are working with operators to develop solutions that customers really want and need. That is our philosophy, we talk to customers, listen to what they are saying and we develop the solutions they really need.

One of the most important things I’ve found in Russia and FSU countries, is that flexibility is key. Customers appreciate our flexible approach and the way we do business. It’s a very fascinating, fast paced business. We supply truly innovative solutions as our name suggests – Innovative Technology. The FSU countries are very much a part of our growth plan with a number of good opportunities.

We have a dedicated sales and support team in Russia and we have some great partners providing local support too. Although we are a global business, we pride ourselves on understanding the specific needs of each market and providing local support, it is very important to us.

Product wise, we have some exciting products for the retail sector, two in particular, that have only recently been launched to the market - the SMART Coin System and TEBS.

The SMART Coin System is a bulk coin feeder, validator and recycler in one. People can just drop mixed coins into the bulk coin feeder, which accepts at up to 8 coins per second. The unit has a market leading coin payout speed of up 12 coins per second. All the different coin denominations are stored in the one hopper, there is no need for different hoppers for each coin – that’s why it’s the SMART Coin System.

The second product, which we’re exhibiting today, has not been officially launched in Russia yet, but will be very shortly. TEBS is a tamper evident bag system combining a bill acceptor with a secure cash bag.

The unit is very simple, but very innovative as you would expect from Innovative Technology. It’s a simple solution that gives full audit traceability. Each cash bag is barcoded so it can be reconciled to the back office system. CIT companies will potentially come directly to the door and collect cash from the machine. There is no longer any need for people in the shop to count or sort cash. Cash is secure from the minute it has entered the bill acceptor to the minute it is removed, as all cash bags are automatically sealed as they are removed, making store processes more efficient and reducing shrinkage.

We offer a turnkey solution for retailers. We don’t just give them the products. We offer support software and software tools to make it easy for businesses to implement and use our products. We also provide first-class application support. The easier you make it for customers to use your products, the quicker the installation process.

As I said before, I think we are a real credible alternative in the market now, and our global reach is growing all the time. People know the name Innovative Technology now, it’s a very, very exciting time for us.

We believe that we provide the lowest cost of ownership and industry proven products. By providing customers with the best value and offering the highest level of service, they won’t want to go anywhere else.

R&L: How do you feel here in Western Europe? Any deals?

Earlier this year we announced a 4 year partnership with Wincor Nixdorf to provide entry solutions for automated cash handling at the point of sale.

The joint partnership across Europe will see us develop a number of retail point of sale payment solutions to provide note and coin recycling at an excellent price-performance ratio.

The Wincor deal is a sign of approval and trust from one of the biggest providers of self-service and IT solutions to retailers in the world. It is a very exciting partnership for us.

Lastly I would like to thank our customers in Russia for they continued business and interest in our products. We are looking forward to participating in more retail shows in Russia to meet our existing customers and some more new ones.

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