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Boardwalktech Software Corp
Symbol BWLK
Shares Issued 42,166,558
Close 2022-08-03 C$ 0.69
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Boardwalktech expands licence deal with accounting firm

2022-08-03 16:39 ET - News Release

Mr. Andrew Duncan reports

BOARDWALKTECH EXPANDS LICENSE, AGAIN, WITH MAJOR ACCOUNTING AND CONSULTING FIRM

Boardwalktech Software Corp. has expanded and increased its licence and services contract with an existing customer -- one of the top accounting and consulting firms with over 300,000 employees throughout the world.

Using the Boardwalktech Digital Ledger platform, this customer has implemented a system for information and data management across a wide variety of its client engagements. This new system for managing data, aggregating information from disparate systems, and reporting and analytics greatly improves this customer's process for each client and leverages the key features of Boardwalktech's unique digital ledger platform.

The latest renewal of this licence and services contract, first started in 2018, increases the annual recurring revenue by an additional $500,000 for the current fiscal year with margins in line with historical levels.

"This contract extension is yet another example of an existing licence customer expanding the use of the Boardwalk Digital Ledger (BDL) platform across its enterprise. This customer continues to realize the great business benefits, ROI and increasing value the platform is bringing to their entire ecosystem, which includes both customers and internal users. This is great validation of increased demand for our product and epitomizes the power of our land and expand strategy driving additional recurring revenue for Boardwalktech," said Andrew T. Duncan, chief executive officer of Boardwalktech. "Aggregating information into a single source of truth -- the Boardwalk Digital Ledger, with immutable history and auditability, dramatically improves information management, reduces risk, improves compliance and security while providing a much more robust and easier way to manage data across the entire enterprise."

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, Calif., with offices in India and operations in North America.

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