Innovative Technology’s cash handling products already enjoy a leading position in European markets. The company now has its sights set firmly on expansion in Asia.
Cash handling products are the unsung foot soldiers of the slot revenue wars. Bill acceptors and bill recyclers are critical in keeping money flowing freely into the games. That, in turn, relies on assuring players the ability to cash out easily when they want through bill recyclers, ticket printers and coin hoppers.
Cash handling products are in most cases the first point of contact between the player and the game and almost always the last. They are required to perform their respective tasks millions of times a day, every day, without a problem or hitch. Their value is part and parcel of their reliability and functionality and the ease with which they can be installed, used and maintained, and in these capacities they are vital to the performance of their host, which means the best ones are the ones you never notice.
UK-based Innovative Technology was established in 1992 with the express purpose of supplying cash handling products that offer peace of mind to customers in the gaming industry. Since then, it has installed over 3 million of its bill acceptors, bill recyclers, ticket printers and multi-coin hoppers in the field.
Innovative Technology now has distribution partners in 20 countries and offices across five continents, with the newest, in Brisbane, Australia, dedicated to serving the Asia Pacific area. Heading up the Asia Pacific region since his appointment in August is sales director Kerry Cowan, who previously worked with key accounts within the slot industry in Cambodia, Macau, the Philippines and Vietnam, and also lived in Macau for a number of years.
“We supply some of the biggest names in European gaming and have done so since the mid ‘90s,” says Mr Cowan, whose remit now is to “build and develop our business throughout the important markets of the Asia Pacific region, which offer great potential for growth.”
Mr Cowan is supported in his task by Innovative Technology’s commitment to “consistently invest in innovation and new product development to improve operational efficiencies and minimize operational costs, while keeping customers secure with products that have 99%+ proven acceptance in the field and are able to reject all known frauds.”
Innovative Technology’s core products are ideally suited to the needs of the region’s diverse markets.
The NV200 flagship bill validator, recommended for “high volume, high security” applications, specifically addresses the two major requirements of Asia’s varied slot operations—from the glitzy megaresorts of Macau and Singapore, to the slot halls and border casinos of Cambodia. “The NV200 definitely fits the bill, offering exceptional note handling, the highest fraud detection rates and the ability to take more cash,” adds Mr Cowan.
Following its launch in mid-2008, the NV200 quickly established itself as the default product for many leading manufacturers and operators. Other benefits are “its low cost of ownership, future proof technology, four-way barcode reading and ease of maintenance.”
The NV200 can be further enhanced through two add-on modules, SMART Payout and SMART Ticket.
The SMART Payout mixed-denomination bill recycler boasts up to 70-note ‘true’ mixed denomination recycling. “This technology offers significant benefits to operators. As it stores all denominations of a given currency it reduces the requirement to refill machines with coins, increasing operational uptime by eliminating coin starvation, whilst reducing maintenance time and costs” explains Mr Cowan. “Auto-centering technology straightens notes before reading, quickly accepting all genuine notes. The unit accepts high-value currency and can store up to 1,000 notes in a lockable removable cashbox, ideal for busy applications.”
The SMART Ticket, an add-on module for the NV200, is a combined bill validator and ticket printer unit. “The unit can be used to accept and print tickets and receipts, eliminating the need for separate printers and bill validators—giving added value and flexibility to customers,” says Mr Cowan.
The company’s commitment to innovation and expansion has seen a new 1,700 square meter bespoke state-of-the-art head office in the UK, the addition of 2,500 square meters of manufacturing capacity at its factory in Shenzhen, China and three new offices opened in the past 12 months.
Innovative Technology’s expansion in Europe entailed setting up its own offices as well as developing a network of leading distributors in key markets, an approach it is now looking to replicate in the Asia- Pacific region. “Over the last few years we’ve grown our client base across Asia- Pacific as manufacturers and operators have been impressed with our ability to bring innovative, secure, cost-reducing products to market. We’re now looking to expand further and intend to follow the same approach here as in Europe and are currently in discussion with a number of leading distributors,” says Mr Cowan.