- Sector: Manufacturing
- Region: North West
- Revenue: £20m to £30m
- Website: www.innovative-technology.com
Spotting the demand
Innovative Technology designs and manufactures cash handling solutions for the gaming, amusement, vending, retail and kiosk markets. Products range from product and ticket-dispensing machines to cash-changing devices for gaming, all requiring evermore sophisticated technology to recognise legitimate banknotes and spot forgeries within a robust and secure design.
The company is capitalising on increasing demand for automated cash handling solutions.
“We’ve ensured that we are at the forefront of all technological advances – innovation is at the heart of what we do”
Aidan Towey, Managing Director of Innovative Technology, says investment in research and development (R&D) has been a key factor in the company’s success: “We have made a sizeable investment into the company’s R&D department, ensuring that we are at the forefront of all technological advances – innovation is at the heart of what we do.” Expansion in the UK and overseas extended the company’s reach and its sales growth outside of the UK has been recognised with a number of awards, including the Queen’s Award for Enterprise.
23 – The years of experience Innovative Technology has racked up
While many companies slowed down during the recession, Innovative Technologies invested in new products and established new offices in Australia, Italy and the US. And the decision has been rewarded with excellent sales results.
Such is the confidence within the firm that Aidan expects to double both turnover and employees in the next five years.