BOARDWALKTECH EXPANDS COMMERCIAL AGREEMENTS WITH THREE EXISITING CUSTOMERS

Rhea-AI Summary

Boardwalktech Software Corp. announces expanded commercial agreements with three existing customers, including Sekisui Chemical, implementing the new Unity Central application to enhance supply chain visibility and data management. The Boardwalk Unity Central solution improves order fill rates, reduces chargebacks and penalties, and increases top line revenue and margins. The company has also executed steps to realign internal resources, generating approximately US$1,000,000 in annual cost savings, allowing focus on strategic Sales and Marketing additions, while accelerating the projected timeline to profitability.

Sekisui to Implement Boardwalktech's Unity Central Application

CUPERTINO, Calif, Jan. 16, 2024 /PRNewswire/ - (TSXV: BWLK) (OTCQB: BWLKF) - Boardwalktech Software Corp. ("Boardwalktech" or the "Company"), a leading digital ledger platform and enterprise software solutions company, is pleased to announce that the Company has expanded commercial agreements with three of its existing customers, with one of these customers, Sekisui Chemical, implementing Boardwalktech's new Unity Central application to enhance its supply chain visibility and data management capabilities. Current supply chain solutions often rely on legacy approaches involving extensive data integration to a common data model resulting in protracted visibility timelines, missed or delayed order fulfillment, chargebacks and penalties. The ROI delivered by the Boardwalk Unity Central solution improves order fill rates (known within the industry as Perfect Order Rates, or "POC"), reduces chargebacks and penalties, increasing both top line revenue, margins and overall customer satisfaction.

In addition to the newly expanded business relationships, Boardwalk has also executed steps to realign its internal resources with a focus on achieving overall profitability, without compromising sales growth. The purpose of this realignment is to increase efficiency with regards to closing deals in its pipleine, including the new Unity Central solution, and better align the Company with its global teaming partners and their sales efforts for the Velocity solution. This realignment of resources is expected to generate approximately US$1,000,000 in annual cost savings, allowing the Company to focus new efforts on selective strategic Sales and Marketing additions, while also accerlating its projected timeline to profitability.

"We continue to see good initial demand for our Unity Central solution both from existing customers and new customers. The Unity Central solution augments Boardwalk's current platform, by providing a cutting-edge approach that empowers companies to better understand and quickly take action based on critical supply chain signals embedded in unstructured data, including documents and emails, that flow within their supply chain ecosystem. Combined with our core Digital Ledger solution, Boardwalk can now offer a holistic solution to customers – whether mission critical data resides in spreadsheets or documents ," said Andrew T. Duncan, CEO of Boardwalktech. "In addition to landing new and expanding current customer relationships, the cost savings realised from our most recent realignment will help us get to profitablility sooner and will not have any impact on our top line growth."

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.

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.

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SOURCE BoardwalkTech

FAQ

What is the purpose of the realignment of resources mentioned in the press release?

The purpose of the realignment is to increase efficiency with regards to closing deals in the pipeline, including the new Unity Central solution, and better align the Company with its global teaming partners and their sales efforts for the Velocity solution.

What is the expected annual cost savings from the realignment of resources?

The realignment of resources is expected to generate approximately US$1,000,000 in annual cost savings.

Who is the CEO of Boardwalktech?

Andrew T. Duncan is the CEO of Boardwalktech.

What is the ticker symbol for Boardwalktech Software Corp. on the OTCQB?

The ticker symbol for Boardwalktech Software Corp. on the OTCQB is BWLKF.