BOARDWALKTECH EXPANDS CONTRACT WITH EXISTING FORTUNE 500 MULTINATIONAL CONSUMER PRODUCTS COMPANY
Third application in 12 months continues expansion across their organization
CUPERTINO, Calif., March 7, 2022 /CNW/ - (TSXV: BWLK) (OTCQB: BWLKF) Boardwalktech Software Corp ("Boardwalktech" or the "Company"), the leading Digital Ledger low-code application platform and enterprise software applications company, is pleased to announce it has contracted to deliver a third application to an existing North American Fortune 500 multinational consumer products customer (the "Client"). Revenue from this next application is expected to exceed US$150,000 in the first year, increasing recurring license revenue, and is the third in a series of anticipated additional applications for this client to be run on the Boardwalk Digital Ledger low-code application Platform.
The Company and Client will rapidly implement a new application to automate managing their global excess inventory. By automating this process on the Boardwalk Digital Ledger low-code application platform, the Client will be able to improve order fulfillment, minimize stock-outs, better calculate excess inventory across multiple systems and logistics providers, and quickly reduce obsolete and excess inventory. By transforming this current manual process to a cloud based digital and collaborative solution for managing their excess inventory, the client will rapidly realize increased sales, improved customer satisfaction, and see improved results.
"The deepening of this relationship is part of what we like to call our "land and expand" sales process. It has been our experience that once Boardwalktech can demonstrate its capabilities and value drivers for a client, other opportunities within that organization are quickly realized. As for today's announcement, delivering this collaborative solution globally across multiple business units with hundreds of users will immediately improve management decisions regarding their excess inventory. This in turn will result in increased product sales and improved margins across their extensive product lines," said Andrew T. Duncan, CEO of Boardwalktech. "This third application will greatly improve the Client's excess inventory issues and is a great example of Boardwalktech's ability to rapidly deliver value working in a large global environment across many business units. We are proud to be such an important technology and solutions partner for this client and anticipate delivering additional applications across many more business units providing value across their entire multinational enterprise."
About Boardwalktech Software Corp.
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.
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".
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.
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Released March 7, 2022