Boardwalktech Expands Footprint with New Application to Existing Fortune 500 Multinational Consumer Products Company
Second Application for Client Reflects "Land and Expand" Model
CUPERTINO, Calif., Sept. 23, 2021 /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 will deliver a second application to an existing North American Fortune 500 multinational consumer products customer (the "Client"). Revenue from this additional application is expected to exceed US$150,000 in the first year with most of that from recurring license revenue, and is the latest in a series of anticipated additional applications for this client to be run on the Boardwalk Digital Ledger Platform.
Using the Boardwalktech Digital Ledger Platform, the Company and Client will implement a new application surrounding tracking and managing product formulas for products that are distributed globally. Product formulation and the inputs surrounding each item are critical to the Client's day-to-day operations and competitive differentiation. By implementing a solution that offers transparency, accountability, and auditability into the formulation process, the Client will be able to more efficiently manage their supply chain and increase revenue while also reducing the amount of product lost due to formulation errors.
Boardwalktech completed an initial application for the Client, as previously announced on February 16th, 2021, related to managing local regulatory labelling, packaging and production compliance for products sold globally.
"Product formulation tracking and management is a unique application of our technology that highlights the wide scope of applications that can be built on the Boardwalktech Digital Ledger Platform and the importance of our Platform to our clients," said Andrew T. Duncan, CEO of Boardwalktech. "This second application is another example of our ability to service multiple business units within an organization to address various pain points that arise from a lack of auditability and transparency that tends to exist in most business infrastructures today. Our solution is creating another layer of efficiency for this client, now within two business units, and as we continue to engage areas of the organization, we anticipate adding more value through additional applications."
About Boardwalktech Software Corp.
Boardwalktech has developed a patented Digital Ledger Technology Platform used by Fortune 500 companies running hundreds of live mission-critical applications worldwide. Boardwalktech's patented 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. Boardwalktech can deliver a collaborative purpose-built enterprise information management application 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 applications.
Boardwalktech is headquartered in Cupertino, California with offices in India and operations in North America. To learn more about Boardwalktech and its capabilities, please visit www.boardwalktech.com.
Forward-Looking Information and Statements
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". The forward-looking information contained herein may include, but is not limited to, information concerning the Offering (including the completion of any additional tranches of the Offering) and the use of the proceeds raised under the Offering.
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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.
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Released September 23, 2021