Boardwalktech Software Corp. (“Boardwalktech” or the “Company”), a leading digital ledger platform and enterprise software solutions company, announces that it has signed a multi-year contract with a leading NYSE-listed global professional services firm. The deal calls for the installation of Boardwalktech’s Velocity product for Excel data management for a group of approximately 30 users within the client’s finance subdivision. Management anticipates approximately $70,000 of Annual Recurring Revenue (“ARR”) for the first year of deployment with an additional $40,000 of follow-on ARR.
“Companies continue to rely on the Boardwalktech Velocity product to aggregate, validate and provide an audit trail on mission-critical finance data,” said Andrew Duncan, CEO of Boardwalktech. “Our Velocity clients take what was a manual process, using email to collaborate, and move into an enterprise-wide database solution that still uses Excel and the User Interface, greatly improving processes and reducing risks. Velocity eliminates days from the legacy manual processes and delivers information so decisions can be made faster. This initial contract has the potential to scale up meaningfully over time.”
Appointment of New CFO
Boardwalktech announces that current director Steve Bennet has taken over as the Company’s CFO. Mr. Bennet brings over 30 years of experience as Chief Financial Officer, investor, and/or board member of over 100 technology start-ups in the Silicon Valley entrepreneurial ecosystem, primarily in the software, Internet, and mobile sectors. Mr. Bennet is also the founder and managing director of the management consulting firm Bodega Partners. Mr. Bennet’s executive roles as CFO include Rollbar, Xenio Systems, Qvivr, Callisto Media, Revel Systems, iControl Networks (acquired by Comcast), Appstores (acquired by InMobi), Greystripe (acquired by ValueClick), Fliqz (acquired by VBrick Systems), Valchemy (acquired by IBM), GolfWeb (acquired by CBS Sportsline), Orbital Data (acquired by Citrix), TextDigger (acquired by Federated Media), and Pharmacy TV Network (acquired by RMG Networks).
