Boardwalktech Expands Recurring License at HCL Technologies

HCL Deploys Budgeting and Planning Application on Boardwalk Digital Ledger Platform

CUPERTINO, CA, May 7, 2020 /CNW/ - (TSXV: BWLK;  OTCQB: BWLKF)  Boardwalktech Software Corp ("Boardwalktech"), the leading digital ledger platform and enterprise software solutions company, is pleased to announce that existing client HCL Technologies ("HCL") has expanded its use of the Boardwalk Digital Ledger Platform (Boardwalk) with deployment of a new Budgeting and Planning application to deliver faster and improved results for HCL's global business.

This new budgeting and planning solution is the third application developed for HCL Technologies, as this global IT services leader digitally transforms its business processes utilizing the Boardwalk Digital Ledger Platform to enable concurrent collaborative and analytical capabilities for improving business decisions. HCL Technologies will be using Boardwalktech's platform to enable automated, cell-level, multi-user, concurrent collaboration, consolidation, and rollup of budget and planning processes.  HCL anticipates deploying this new budgeting and planning application across its worldwide operations will enable quicker and better budget and planning decision by:

• Improving decisions as people always work on the latest information while collaborating
• Eliminating manual Excel activities such as email attachments, cut and paste consolidation, and distribution of template-based data
• Enabling access control by roles and responsibility, while hardening the process data so users can only change data they are authorized to access
• Ensuring data integrity and consistency by locking down formulas and structures
• Reducing review time spent in understanding who changed what, when and why
• Improving the experience of Excel by reducing the file size and Excel-based calculations that are not reliable/optimal

"Using Boardwalktech's concurrent collaborative capabilities, advanced analytics, reporting and secure digital information exchange across the enterprise enables HCL to significantly improve budgeting and planning decision times leading to better business results," said Andrew T. Duncan, President and CEO of Boardwalktech Software. "The Boardwalk Digital Ledger Platform is in use by some of the largest companies in the world, like HCL, that have realized 3-5% ROI in the first year of deploying Boardwalktech solutions, because the applications can be quickly configured, integrated with the existing enterprise, and deployed using legacy desktop apps, a browser, or a mobile device.  Boardwalk's patented technology delivers on the global demand for secure trusted digital information exchange. "

Mr. Duncan continued, "HCL has been a strong partner of ours and provides an archetypical example of what we see with many clients. Enterprise clients typically engage us for 1-2 applications, quickly recognize that the Boardwalktech platform has multiple use cases outside of the initial request, and inevitably we work to develop applications across multiple business application areas. As this process continues, we anticipate further growth in both our recurring revenue base as well as the associated professional services revenue."

About Boardwalktech Software Corp.

Boardwalktech has developed a patented Digital Ledger Technology Platform used by Fortune 500 companies running over 100 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. For more information on Boardwalktech, visit our website at www.boardwalktech.com.

About HCL Technologies.
HCL Technologies (HCL) empowers global enterprises with technology for the next decade today. HCL's Mode 1-2-3 strategy, through its deep-domain industry expertise, customer-centricity and entrepreneurial culture of ideapreneurship™ enables businesses to transform into next-gen enterprises. 

HCL offers its services and products through three business units - IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in areas of Applications, Infrastructure, Digital Process Operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. Under P&P, HCL provides modernized software products to global clients for their technology and industry-specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized under Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services. 

As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability and education initiatives. As of 12 months ended December 31, 2019, HCL has a consolidated revenue of US$ 9.7 billion and its 149,000 ideapreneurs operate out of 45 countries. For more information, visit www.hcltech.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.

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SOURCE BoardwalkTech

Contacts: Boardwalktech, Inc.: J.B. Kuppe, SVP Marketing, 650-618-6104, [email protected]; Charlie Glavin, CFA, 650-618-6163, [email protected]; Virtus Advisory Group, 416-644-5081, [email protected]