Radiant Vision Systems has pioneered the development of a set of integrated hardware and software solutions for the automation of optical measurement analysis. We are a world leader in providing visual measurement, and test of color and light solutions to our customers.
And while Radiant provides our solutions to many different markets, one example of where our products can be found is in the consumer electronic market or electronic displays. Most of us who have engaged in buying a TV, lap top, electronic book or cell phone understand the high importance of electronic display quality. The standard for testing electronic display historically has been human eye which is needless to say unsustainable and inaccurate. By taking advantage of Radiant Vision Systems solutions our customers in the consumer electronic manufacturing industry have the ability to quantify light and color measurement as perceived by the human eye with quicker and more efficient assessment tools provided by Radiant Vision Systems.
Radiant Vision Systems product and customer potential is large mainly because we have developed a new and innovative approach to measuring and testing the quality of color and light. Our solutions scale beyond the consumer electronic market and reach into an endless list of markets.
The majority of our customers operate in one or two vertical market segments: 1) Display technologies i.e. flat panel such as tablets, smartphones, monitors and in digital signage such as stadium scoreboards as well as displays for specific industries such as automotive, aerospace, medical and other general purpose embedded displays, consumer electronics, white goods, etc. and 2) Lighting solutions (increasingly trending toward solid state LED lighting – both the light source itself as well as luminaire in total.) It is easy to identify market leaders in each of these segments including major internet retailers of electronic displays, consumer electronic or computer displays; readers and phones as well as companies which produce lighting products.
Radiant Vision Systems operates under mutual NDA’s with our prospective and current customers. Beyond the target markets identified above there are literally hundreds if not thousands of target customers in these vertical markets; adjacent markets and supporting industries. Our customer opportunity is extremely positive as you can imagine the consumer market has an increasing demand for high quality electronic displays and this will only increase in the near to long term future.
What is an example customer scenario for who uses Radiant Imaging products?
To demonstrate the versatility of Radiant Vision Systems imaging solutions – the example which will be shared illustrates a broad customer market.
A current client manufactures architectural glass that changes its transmission properties (darkens or lightens in response to sunlight for energy efficiency and/or privacy). There are electronic controls and elements in the glass that are used to control tint. This architectural glass is used in office buildings and hotels, so customers/clients who want to enjoy the benefits of the technology without having it distort or detract from their views. Radiant Vision Systems imaging technology is used day in and day out to test all sheet glass manufactured by this client.
This application is very similar to that which is used in testing electronic display screens. Industry leaders, especially within the consumer space, know that ease of readability and display is especially important to their customers who often chose technology based more upon look and feel in comparison to complexity of use, which is why they leverage Radiant Vision Systems.
As a small company, what stage of business development is Radiant Vision Systems in with their image testing technology?
As a company we have just moved from a classic founder based technology driven organization to that of a small business geared toward demonstrating the strong viability of products in our diverse and open market space. As a part of this we have formalized our strategic initiatives with the addition of a dedicated marketing, product development and talent management team. Our customers have been cultivated through a combination of traditional methodologies including outbound marketing, i.e. advertising, webinars, trade shows and technical publications. In 2012 (ahead of our original projections), we grew our revenue stream significantly based upon a large B2B customer coming forward and recognizing the power of our Radiant Vision Systems imaging hardware and software solutions. As a result, this customer purchased our products by multiples of dozens. We are now catching up to this growth with further infrastructure investment including formalized technical road map development which extends several years out as well as investing in our Marketing, Product Development and Sales team. This includes further build out of our Key Account and Territory Sales strategies.
To provide you with an example of where we have been, in 2012 our CORE US/EMEA Sales team consisted of one person who worked in response mode to customer inquiries and was simply not able to proactively cultivate customers due to response level. Since this time, we have chosen to invest in the business on a regional approach. Each region (West, Central and East) has its own dynamic and unique target verticals and are at different levels of maturity. Most importantly, this creates tremendous opportunities for motivated, driven sales and technical professionals for both career and financial success.
Whether you consider a blue ocean strategy or greenfield project that is ground up opportunity. The US Radiant Vision Systems product territories are rich with largely untapped potential for revenue and leadership success. Our sales compensation philosophy is to provide an uncapped plan, but at this point needs to have strategic sales leaders to build and implement a territory strategy in order to capitalize on this stage of our technical and business growth.