LAS VEGAS - Thursday, 29. June 2023 AETOSWire
New online tools assist Oracle and SAP licensees in pinpointing solutions that can lower total cost of ownership, improve and secure their systems and refocus IT resources towards strategic projects that can lower costs, improve profitability, increase competitiveness and accelerate growth
(BUSINESS WIRE) -- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced two free, online tools that work in minutes to help Oracle and SAP clients identify and unlock significant potential savings from their existing ERP investments: Rimini Street Savings Calculator for Oracle and Rimini Street Savings Calculator for SAP. Clients who choose Rimini Street have saved more than $7 billion to date, at the same time receiving more responsive and higher quality software support and a partnership that furthers their operational success.
Value of Oracle and SAP Vendor Maintenance Fees Diminishes Over Time
Oracle’s and SAP’s profit margin on their annual software support is typically more than 90%, meaning that the software vendors may spend less than 10% of their client’s annual fees on providing service. This can lead to significant gaps against service needs, such as support for custom configurations and customized code (“add ons”) which are common amongst many Oracle and SAP licensees.
After some number of years, both Oracle and SAP arbitrarily downgrade the scope of services available for a particular release level - yet are known to continue charging the same fee (or more) than when full support was available for the release and push for upgrades and migrations to their newest product releases that may not benefit a particular client.
For those who elect to follow the vendor-dictated roadmap, the total cost of ownership of the ERP system usually only increases, whether choosing to upgrade or maintain operations on their current release.
Rimini Street Solutions Provide Higher Value
Rimini Street provides an annual support solution to help its Oracle and SAP clients reverse this expensive, systemic challenge by offering an immediate 50% savings on annual support fees and these other key benefits:
Named, dedicated primary support engineer with an average of 20 years of experience backed by hundreds of engineering talent around the world
Guaranteed 10-minute response to priority cases, with an average of less than two minutes, to address and resolve issues faster, 24/7/365
Support for customizations at the same level as vendor-delivered code
Guaranteed 15 additional years of support from time of contracting to extract maximum value of existing ERP release
Risk avoidance related to system upgrade and migration challenges
Rimini Street Empowers Clients with $7B Savings and Strategic Project Funding
“Industry analysts estimate most companies spend around 90% of their IT budget on daily operating expenses, leaving only 10% for investment in innovation. Rimini Street can help significantly reduce that 90% to 60% with its service solutions, enabling clients to refocus more money, staff and time towards strategic initiatives and projects,” said Seth A. Ravin, CEO, president and chairman, Rimini Street, Inc.
Select Rimini Street client examples include:
HCX Technology Partners, a Philippines-based digital business solutions provider that manages 60,000 perpetual Oracle PeopleSoft licenses for its clients, utilized Rimini Street to help “reduce the number of people providing production support and refocused them on strategic and development projects,” said Crisela de Jesus, department head, HCM and CRM solutions at HCX Technology Partners.
NIBCO, a leading manufacturer of flow-control solutions with a rich history spanning back to 1904, found that the savings achieved by selecting Rimini Street for its SAP support maintenance has helped to “maximize the lifespan of our SAP system and to avoid unnecessarily spending money on upgrades,” said Jeff Miller, director, business relationship management at NIBCO. “We’ve been able to redirect those funds into acquisitions and developing new products. We’re now spending money on growing NIBCO, not just keeping the lights on.”
“We invite all companies using Oracle and SAP to take just a few minutes to leverage our Savings Calculators,” said David Rowe, chief product officer and executive vice president, global transformation at Rimini Street. “Most organizations are delighted to learn the savings from a switch to Rimini Street is much more than the 50% savings in annual support fees, but can also include savings from the avoidance of forced upgrades just to retain full support, support for customizations at no additional charge, and more efficient support processes. The discovery will be eye-opening and highly opportunistic for your business.“
Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and Rimini ONE™ end-to-end outsourcing solutions for SAP, Oracle and Salesforce applications to support competitive advantage, profitability and growth.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,100 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted enterprise software solutions provider. To learn more, please visit http://www.riministreet.com, and connect with Rimini Street on Twitter, Facebook and LinkedIn. (IR-RMNI)
Forward-Looking Statements
Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street’s business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to sustain or achieve revenue growth or profitability and manage our cost of revenue; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle, and risks relating to retention rates; the loss of one or more members of our management team; our ability to attract and retain qualified employees and key personnel; challenges of managing growth profitably; our need and ability to raise additional equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth; the impact of environmental, social and governance (ESG) matters; actions in response to any lingering impacts of the COVID-19 pandemic and its economic, operational and financial impacts on our business; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate tax reserves; our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street’s equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 3, 2023, and as updated from time to time by Rimini Street’s future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street’s expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street’s assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street’s assessments as of any date subsequent to the date of this communication.
© 2023 Rimini Street, Inc. All rights reserved. “Rimini Street” is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.
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Contacts
Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
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