Multi-phase Rollout with Fortune 50 Social Media Company to Improve Order Optimization
CUPERTINO, Calif., Nov. 27, 2023 /CNW/ – Boardwalktech Software Corp (the “Company” or “Boardwalktech”) (TSXV: BWLK) (OTCQB: BWLKF), the leading Digital Ledger solution improving the way enterprises manage information, today announced that it extended and expanded its relationship with a Fortune 50 California-based technology company (the “Customer”). This is the second such expansion of the commercial relationship, with the initial professional services engagement announced on May 18, 2021 followed by the first expansion of the agreement and temporary license that was announced on December 23, 2022.
Boardwalktech is pleased to announce the expansion of the Customer’s deployment and licensing of the Boardwalk Platform and associated Radius Control Tower / Unity Central data management solutions to improve supply chain visibility and order execution. The initial phase, being announced today, is the first annual license with the Customer, and is focused on improving B2B order fulfilment and visibility. The next two phases of the solution are expansions which are expected to be added throughout 2024 and will leverage Unity Central for return management improvements, then a full platform solution for supply side order management connecting the Customer’s various contract manufacturing partners and suppliers. Future announcements are expected as those new phases are executed. Combined license and services revenue from this expanded plan is expected to exceed US$400,000 over the next 12 months. Further license increases are expected as these solutions renew and Boardwalktech continues to demonstrate measurable ROI for the Customer in its quest for continuous order and supply chain improvement.
The Boardwalk Platform provides a cutting-edge solution that empowers companies to better understand and take action on the various information, such as unstructured data within documents and emails, that flow within their supply chain ecosystem. According to a 2022 Lodestar survey, a typical Purchase Order can require over 50 documents and signal flows across 25-30 stakeholders, often requiring dozens of supplemental emails to insure on-time order fulfillment. These documents and signals are time consuming and tedious to interpret, understand, and organize to ensure timely and proactive actions when an order is in a critical state. Boardwalk’s Digital Ledger and Unity Central solution can simultaneously ingest all of these documents and signals without having to transform the data, understand the contents and signals within these documents, and provide immediate alerts and predictive analytics so proactive steps can be taken to insure an order stays on track. Current supply chain solutions rely on legacy approaches making them expensive and late to react to issues that could result in a missed or delayed order because they fail to improve the data reliability root cause. This is why a Price Waterhouse Cooper survey in February 2023 showed that 83% of supply-chain executives have not seen value from data investments they have made to date. Conversely, after an extensive review period measuring the ROI on actual commercial performance, the Customer chose to license the Boardwalk platform which is being announced today.
“Today’s announcement with this Customer marks the start of another growth chapter for Boardwalktech. Unity Central augments our Digital Ledger leadership to provide customers with a more holistic, high ROI solution – whether data resides in spreadsheets or documents. While market forces meant it took the Customer longer to complete its commercial ROI process than first expected, it was worth the wait. Not only have we finally announced our first license with this Customer, but we are excited that future plans have been expanded. As these joint developments progress, we look forward to future announcements. That said, license and service revenues over the next twelve months is expected to exceed the Company’s prior projections for this engagement,” stated Andrew T. Duncan, Chief Executive Officer at Boardwalktech. “The majority of enterprise information is unstructured data which means it is often omitted from critical decisions or alerts until after the fact. The Boardwalk Platform and Unity Central can now ingest this information, providing alerts and predictive analytics to all parties in the supply chain ecosystem to understand this information and quickly take action. The Customer recognized these challenges to build a world class supply chain and chose the Boardwalktech Platform and Unity Central to help them get closer to an aspirational ‘perfect order’ fulfillment goal and environment.”
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”.
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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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SOURCE BoardwalkTech