BOARDWALKTECH EXTENDS AND EXPANDS CONTRACT WITH LEADING FORTUNE 50 COMPANY FOR DATA AND SUPPLY CHAIN VISIBILITY
Continued expansion for unique Supply Chain application now moves into production license phase
CUPERTINO, CA, Dec. 23, 2022 /CNW/ - (TSXV:BWLK) (OTCQB:BWLKF) Boardwalktech Software Corp ("Boardwalktech" or the "Company"), the leading Digital Ledger platform and enterprise software applications company, is pleased to announce it has extended and expanded its contract with a Fortune 50 California-based technology company (the "Client") to deliver additional data management, analytics and supply chain visibility solutions running on the Boardwalk Platform. This project is being rolled out in multiple, incremental phases, with today's announcement being the latest development, and future progress announcements expected in the first quarter of next year. Additional revenue from this extension starts at USD $400,000 for a combination of license revenue and services as the solutions are expanded across more users. The Company expects additional incremental revenue for recurring license and services for this client during their new fiscal (budgetary) period starting January 2023, as the client ramps this application into production.
Using the Radius Control Tower functionality running on the Boardwalktech Digital Ledger Platform, the Client will implement a new system for managing data and supply chain information globally, including order and supplier tracking. The Client will be able to efficiently manage and align information from their suppliers, logistics providers, customers, partners, and internal systems world-wide allowing them to have better visibility, gain better insights, enhanced analytics and rapidly advance the decision-making process, resulting in improved business results.
"The Radius Control Tower solution offers a unique document centric workspace that allows professionals in the supply chain to correlate structured and unstructured data and connect the dots between supply chain events and planned activities to fulfill client demand. This offers an exciting alternative to typical data warehouse-based approaches that lead to expensive, and rigid solutions that takes years to configure
and deploy. Boardwalk's solution can accelerate the process, while providing better tracking and delivery results, resulting in higher ROI and better customer satisfaction that can lead to higher repeat sales" said Dharmesh Dadbhawala, Chief Product Officer at Boardwalktech.
"Utilizing the Boardwalk Digital Ledger platform for data management, we are delivering a new kind of supply chain solution integrating structured data with non-structured data from the source and aligning this data into a single version of the truth. By building a knowledge base and capturing process timelines, we are providing this client with a groundbreaking solution that will improve visibility, collaboration, and decision making resulting ultimately in improved business results" said Andrew T Duncan, CEO of Boardwalktech. "This client, an industry pioneer and one of the most technologically advanced companies in the world, chose the Boardwalk Platform to help lead the next generation of supply chain and data management for their organization and we look forward to a long and successful partnership"
Boardwalktech has developed a patented Digital Ledger Technology Platform currently used by Fortune 500 companies running mission-critical applications worldwide. Boardwalktech's digital ledger technology and its unique method of managing vast amounts of structured and unstructured data is the only platform on the market today where multiple parties can effectively work on the same data simultaneously while preserving the fidelity and provenance of the data. Boardwalktech can deliver collaborative, purpose-built enterprise information management applications on any device or user interface with full integration with enterprise systems of record in a fraction of the time it takes other non-digital ledger technology-based platforms. Boardwalktech is headquartered in Cupertino, California with offices in India and operations in North America. For more information on Boardwalktech, visit our website at www.boardwalktech.com.
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only the Company's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved".
By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such information and statements.
An investment in securities of the Company is speculative and subject to several risks including, without limitation, the risks discussed under the heading "Risk Factors" in the Company's filing statement dated May 30, 2018. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE BoardwalkTech
Charlie Glavin, CFA, Boardwalktech, Inc., 650-618-6163, [email protected]; Harbor Access, [email protected], (416) 842-9003
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