Rapid Technology Group Plc, a Dublin, Ireland company is engaged in talks with leading OEM customers that will determine whether its computer input technology will make a breakthrough in the point of sale market in the current financial year. RTG ended its first year as a public company with figures that show net losses up 49% to the equivalent of $2.3m after revenues slumped from $1.2m to $314,504. Like many European start-ups, the company has had to pour resources into establishing a sales operation in the US, a market that is crucial to its future success. RTG claims that it has leading differentiating technology in Screen Key, a system that allows users to navigate through layers of options on their screens using backlit colored LCD panels on certain keys. This is designed for point of sale POS applications as cashiers who would find using a mouse impractical. Screen Key works with the Windows graphical environment and RTG says that trials with leading US retailers have shown it can substantially cut cashier training. RTG is now preparing an updated range of five separate products, three aimed at the POS market and others focused on financial services, call centers and process control. Last year’s revenues were hit by a longer than expected evaluation time adopted by customers and their reluctance to place long-term orders when they knew a new range of products were in the offing.
