Boardwalktech Continues Expansion with Customer
BWLK executes additional license with existing client of the Boardwalk Digital Ledger Platform
CUPERTINO, CA, Sept. 3, 2019 /CNW/ - (TSXV:BWLK) - Boardwalktech Software Corp ("Boardwalktech") today announced that an existing Fortune 100 enterprise client has expanded their use of the Boardwalk Digital Ledger Platform ("Boardwalk"), as a result of tangible business results and recognized ROI. Boardwalktech will generate additional revenue in both license fees and recurring professional services over the next 4 quarters as a result of this extension.
- The client is a $100B+ annual revenue U.S. Based telecommunications company which offers wireless products and services. This new expansion involves the addition of a 5th application running on the Boardwalk Digital Ledger Platform. The Boardwalktech services and application consulting team is working side by side with the client to deliver this additional solution which will improve order management and inventory across a wide array of offered products.
"The expansion of the Boardwalk Digital Ledger Platform to manage an additional mission critical planning process for this existing Fortune 100 client is a great example of constant value being delivered by Boardwalktech and further validates that Boardwalktech's solutions create business efficiencies that result in higher margins," said Andrew T. Duncan, CEO of Boardwalktech. "With this existing client, our applications generated significant ROI immediately in the form of a digitally transformed, and more efficient process workflow. This new license enables this enterprise customer to expand their usage to incorporate inventory and order management capabilities. This new application further validates that the Boardwalktech platform is applicable across a wide variety of applications and processes for any large-scale enterprise aiming to digitally connect people and systems.
Mr. Duncan continued, "Given that the average enterprise client has an estimated 100 potential applications that could benefit from running on the Boardwalk platform, today's announcement reflects an expected penetration with existing customers. Digitally transforming these applications enables information to be exchanged faster in a digital environment in conjunction with the use of predictive analytics, allowing decisions to be made more confidently, resulting in improved operating results for Boardwalktech clients."
The Boardwalk Digital Ledger Platform is the #1 environment for multi-party enterprise planning applications enabling trusted, authenticated and secure collaborative transactions managed on a private permissioned digital ledger. Boardwalktech's platform provides the end-to-end framework needed for enterprise customers to digitally transform existing manual planning processes, enabling a more timely, accurate, and predictive business outcome delivering a high ROI and business value to the enterprise.
Boardwalktech has developed a patented Digital Ledger Technology Platform that is in use today by 26 of the Fortune 500 running over 100 live mission critical applications world-wide. This enterprise platform allows for multi-party collaboration, provenance, verification and blockchain immutable transactions on a trusted, shared, and secured private permissioned blockchain cloud service. The Boardwalktech platform allows rapid application development on any device or user interface and full integration with enterprise systems of record
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.
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.
Released September 3, 2019