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."
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
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SOURCE BoardwalkTech