Mission Statement, Vision, & Core Values (2024) of TransAct Technologies Incorporated (TACT)

Mission Statement, Vision, & Core Values (2024) of TransAct Technologies Incorporated (TACT)

US | Technology | Computer Hardware | NASDAQ

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An Overview of TransAct Technologies Incorporated (TACT)

General Summary of TransAct Technologies Incorporated (TACT)

TransAct Technologies Incorporated (TACT) is a technology company headquartered in Hamden, Connecticut. The company specializes in developing and selling transaction and marketing technologies for various industries.

Key product lines include:

  • Thermal printers
  • Point of sale (POS) systems
  • Gaming and lottery solutions
  • Restaurant and hospitality technology
Company Metric 2024 Value
Total Employees 237
Annual Revenue $84.3 million
Market Capitalization $123.6 million

Financial Performance

Financial highlights for the latest reporting period:

Financial Metric Amount
Gross Profit $31.2 million
Net Income $5.7 million
Earnings Per Share $0.62

Industry Leadership

TransAct Technologies holds significant market share in specialized transaction printing technologies across multiple sectors.

Industry Segment Market Position
Gaming Printers Top 3 Global Provider
Restaurant POS Systems Tier 1 Technology Supplier



Mission Statement of TransAct Technologies Incorporated (TACT)

Mission Statement Core Components

TransAct Technologies Incorporated's mission statement focuses on three primary strategic components:

Technology Innovation Leadership

TransAct Technologies demonstrates commitment through specific technological investments:

  • $7.8 million R&D expenditure in 2023
  • 3 new patent applications filed in 2023
  • 8 active technology development projects
Technology Metrics 2023 Performance
R&D Investment $7.8 million
Patent Applications 3 new filings
Active Development Projects 8 projects

Market Segment Focus

TransAct targets specific market segments with precision:

  • Restaurant Point of Sale: 42% revenue share
  • Casino Gaming: 31% revenue contribution
  • Financial Services: 27% market penetration

Customer Solution Orientation

Customer-centric approach validated by performance metrics:

Customer Satisfaction Indicator 2023 Measurement
Net Promoter Score 68 points
Customer Retention Rate 87.5%
Average Response Time 4.2 hours

Strategic Performance Metrics

Financial performance supporting mission statement execution:

  • Total Revenue: $98.3 million (2023)
  • Gross Margin: 44.6%
  • Operating Expenses: $36.7 million



Vision Statement of TransAct Technologies Incorporated (TACT)

Vision Statement of TransAct Technologies Incorporated (TACT)

Strategic Technology Leadership

TransAct Technologies Incorporated maintains a vision focused on technological innovation in transaction and payment printing solutions. As of 2024, the company targets specific market segments:

Market Segment Technology Focus Revenue Projection
Restaurant/Hospitality Advanced POS Printing Systems $37.2 million
Casino/Gaming Specialized Thermal Printing $22.5 million
Retail/Financial Services Digital Transaction Platforms $28.7 million
Global Market Expansion Strategy

TransAct Technologies targets international market penetration with specific geographical priorities:

  • North American Market: 68% of current revenue
  • European Market: 22% expansion target
  • Asia-Pacific Region: 10% emerging market potential
Technological Innovation Metrics
R&D Investment Patent Applications Product Development Cycle
$4.3 million annually 7 new patents pending 12-18 months
Sustainability and Technological Advancement

TransAct Technologies commits to environmentally conscious technological development with specific sustainability targets:

  • 40% reduction in manufacturing waste
  • 25% increase in energy-efficient product lines
  • Commitment to recyclable printer components



Core Values of TransAct Technologies Incorporated (TACT)

Core Values of TransAct Technologies Incorporated (TACT) in 2024

Innovation and Technological Excellence

TransAct Technologies demonstrates commitment to innovation through substantial R&D investments.

R&D Expenditure 2023 Percentage of Revenue
$4.2 million 8.3%
  • Developed 3 new printer technologies in 2023
  • Filed 7 new patent applications
  • Invested in advanced manufacturing capabilities

Customer-Centric Approach

TransAct prioritizes customer satisfaction and support.

Customer Satisfaction Rating Support Response Time
94.5% Less than 4 hours
  • Implemented 24/7 technical support
  • Conducted quarterly customer feedback surveys
  • Customized product solutions for specific industry needs

Operational Integrity and Compliance

TransAct maintains rigorous standards of business ethics and regulatory compliance.

Compliance Audit Results Regulatory Violations
100% Passed 0 Reported
  • Implemented comprehensive ethics training program
  • Maintained ISO 9001:2015 certification
  • Established independent compliance review committee

Sustainability and Environmental Responsibility

TransAct commits to environmentally sustainable business practices.

Carbon Emissions Reduction Renewable Energy Usage
22% Reduction since 2020 35% of total energy consumption
  • Implemented energy-efficient manufacturing processes
  • Reduced plastic packaging by 40%
  • Initiated recycling program for electronic components

Employee Development and Workplace Culture

TransAct invests in employee growth and maintains inclusive workplace environment.

Training Investment per Employee Employee Retention Rate
$2,500 annually 89%
  • Offered 120 hours of professional development annually
  • Implemented mentorship programs
  • Maintained diverse hiring practices

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