Boardwalktech Signs First Recurring License with Existing Fortune 10 Customer

Rhea-AI Summary

Boardwalktech Software Corp (BWLKF) has expanded its relationship with a Fortune 10 technology company by introducing a new capacity planning and supply chain application on its Digital Ledger Platform. This marks the first recurring revenue application for the client, with prospects for further applications across various departments. The new system is expected to enhance global data management and improve decision-making processes. CEO Andrew T. Duncan noted that this aligns with the company’s strategy to grow its tier-1 customer base and ensures immediate ROI for clients.

Positive

• Introduction of first recurring revenue application with a Fortune 10 client.
• Enhancement of global data management capabilities using the Digital Ledger Platform.
• Potential for additional services and applications across multiple business units for the client.
• Alignment with company strategy to attract tier-1 customers and expand within existing clients.

Negative

• None.

Client Migration to New SaaS License Expands Relationship for Capacity Planning Application

CUPERTINO, Calif., June 15, 2021 /PRNewswire/ - (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 expanded its relationship with a Fortune 10 American multinational technology company that specializes in consumer electronics, computer software, and online services, (the "Client") to deliver a new capacity planning data management and supply chain application running on the Boardwalk Digital Ledger Platform. This is the first recurring revenue application for this Client and the Company anticipates additional services and applications to be added across multiple business units within the Client's organization.

Using the Boardwalktech Digital Ledger Platform, the Client will implement a new system for managing and planning demand, inventory, and capacity globally which will enable faster, and better decisions based on enhanced information flow of critical business data. The Client will be able to more efficiently manage and align information from their suppliers, logistics providers, customers, partners, and internal systems allowing them to have greatly improved visibility and insights into the planning schedules and decision-making processes, resulting in improved business results.  

"This new recurring SaaS license is another milestone in our strategy of adding new tier-1 customers while also delivering on our land and expand strategy to grow within our existing client base," said Andrew T. Duncan, CEO of Boardwalktech. "For all types of planning applications, including capacity planning applications such as the one we announced today, the alignment of internal and external data from multiple sources enables improved and better decision making. Further, our unique digital ledger platform delivers immediate and long-lasting ROI solutions for mission critical complex planning applications in a matter of weeks, rather than months or quarters, for clients and all parties in the global value chain. 

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.

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.

View original content:http://www.prnewswire.com/news-releases/boardwalktech-signs-first-recurring-license-with-existing-fortune-10-customer-301312496.html

SOURCE BoardwalkTech

FAQ

What is the significance of the new SaaS license for Boardwalktech (BWLKF)?

The new SaaS license represents Boardwalktech's first recurring revenue application with a Fortune 10 client, indicating a significant expansion of their business relationship.

How will the new capacity planning application impact the client’s operations?

The application will improve the client’s ability to manage and align information globally, enhancing their decision-making processes and overall business results.

What does the CEO of Boardwalktech say about the new licensing agreement?

CEO Andrew T. Duncan stated that the new recurring SaaS license is a milestone in their strategy to grow with tier-1 customers and improve decision-making through enhanced data alignment.

When was the press release about the new SaaS license issued by Boardwalktech (BWLKF)?

The press release was issued on June 15, 2021.

Where is Boardwalktech headquartered?

Boardwalktech is headquartered in Cupertino, California, with additional offices in India.