LAS VEGAS--(BUSINESS WIRE)--Aug 10, 2023--
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 reaffirmed its guaranteed availability of 15 additional years of worry-free, significantly improved support and managed services for the tens of thousands of SAP ECC and S/4HANA on-premises licensees.
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Rimini Street Reaffirms Guarantee of 15 Additional Years of Support and Managed Services for SAP ECC and S/4HANA On-Premises Clients, Providing Maximum ROI and Enabling Innovation Without Forced Migrations to S/4HANA Cloud (Graphic: Business Wire)
As pressures mount for SAP ECC licensees to migrate to S/4HANA by 2027, Rimini Street’s impressive list of SAP clients enjoy the freedom and flexibility of owning and controlling their own IT roadmap and timeline, restoring CXOs, IT and finance leaders, and board members the power to plan, execute and innovate boldly with a trusted partner.
Recent SAP Declarations Cause Additional Concern for SAP ECC and S/4HANA On-Premises Licensees
Two major recent declarations from SAP have stirred the SAP ECC and S/4HANA on-premises community, causing concern over increasing annual maintenance fees while access to new features are now exclusive to clients of SAP public and private cloud using RISE with SAP.
SAP CEO Christian Klein stated on July 20, 2023 in the SAP Q2 2023 earnings call, “It's also very important to emphasize that SAP's newest innovations and capabilities will only be delivered in SAP public cloud and SAP private cloud using RISE with SAP as the enabler. This is how we will deliver these innovations with speed, agility, quality and efficiency. Our new innovations will not be available for on-premise or hosted on-premise ERP customers on hyperscalers.”
In a July 27, 2023 article on CIO.com titled, “SAP Raises On-Prem Support Costs Again to Drive Cloud Adoption,” senior editor, Peter Sayer, opens with the following statement, “For the second year in a row, SAP is raising on-premises support costs. This time, however, it’s cutting innovation too.” The article notes, “From the start of 2024, it will again increase support prices by local consumer price index (CPI) rates – but this time, it’s raising the cap to 5%.”
As published August 3, 2023 on DSAG.com, Thomas Henzler, board member for licenses, service and support of DSAG, the German-speaking SAP User Group, said, "As an interest group representing more than 3,800 companies in Germany, Austria and Switzerland, we must now advise companies to carefully reconsider possible planned S/4HANA implementations with regard to the operating model – especially against the background of the renewed increase in maintenance. The announcement is a real showstopper and a big disappointment."
Jens Hungershausen, board chairman of DSAG also stated, “Customers who have already invested in S/4HANA on-premise may now get the impression that they have wasted millions. That doesn’t build trust if SAP doesn’t at the same time show customers clear development paths for a smooth transition to the cloud and next-generation ERP without jeopardizing the investments they’ve made.”
Rimini Support™ for SAP Maximizes ROI of ERP Investment and Provides Peace of Mind
As the leader of third-party software support services for SAP, more and more SAP licensees, including those who have already migrated to S/4HANA, select Rimini Support™ for SAP to extract greater value from and do more with their IT investments without worry of upgrades.
Rimini Support clients who rely on SAP to run their business benefit from:
- Guaranteed 15 additional years of support
- Support for customizations
- Delivery of accurate, timely tax, legal and regulatory updates
- Direct access to an assigned, named Primary Support Engineer (PSE) backed by hundreds of expert engineers around the globe
- Guaranteed 10-minute response time for critical cases with average response time of under 90 seconds
- Immediate savings of 50% off their annual maintenance fees with up to 90% saved on total support costs
GE Lighting, a Savant Company, U.S. based authority in energy-efficient residential lighting products and smart homes, is one of Rimini Support™ for SAP clients seeing the difference uniting with Rimini Street. Theresa Szoke, VP of information technology at Savant Systems, Inc. shares, “Rimini Street was so consistently responsive and proactive, we no longer worried about skills gaps. Rimini Street is all the bench strength that we need.” Sanjay Sethia, senior manager of enterprise applications at GE Lighting, a Savant Company, adds, “With Rimini Street, you have a partner that is always ready with depth of expertise and a demonstrated, heartfelt commitment to helping support you.”
Rimini Manage™ for SAP Allows for Unlimited Tickets and Optimization of Internal Resources
Rimini Manage for SAP clients gain predictability and increased business value through:
- Reduced backlog of open tickets
- Root cause analysis and resolution
- Rapid response and faster time to resolution with industry-leading service level agreements (SLAs)
- Always on, easy access to expert SAP engineers with an average of 15 years of experience
- Predictable cost model with unlimited tickets from an extensive catalog of services
Iguatemi, Brazil’s impressive full-service shopping center company with 14 shopping malls, 2 premium outlets and 3 commercial towers, is one of more than 100 clients leveraging both Rimini Support and Rimini Manage to keep its mission-critical, highly customized SAP ECC 6.0 programs running smoothly day-to-day while reinvesting the savings achieved for strategic projects.
Valdemar Castilho, IT operations manager at Iguatemi Empresa de Shopping Centers S.A shared, “Rimini Street’s proposal for AMS delighted us due to the differential of its model. In addition to the seniority of the engineers and extremely fast response time, today we don’t waste any more time having to manage the tickets.”
Rimini Street recently announced the expansion and general availability of Rimini Manage services for SAP cloud products, adding to the success of its highly differentiated application managed service offerings.
Rimini Street Enables Innovation for SAP Clients Through Optimization and Smart Resource Allocation
For nearly 18 years, Rimini Street has cleared the path for both SAP and Oracle clients to innovate boldly while maximizing the ROI from its existing ERP investments and enjoying markedly improved software support. No longer confined to the vendor-dictated roadmap of expensive, unwanted upgrades and migrations, Rimini Street clients have the flexibility of time and optimization of systems to selectively choose best-of-breed options to enhance the capability of their IT environment.
Rimini Support for SAP client, Quadient, a leading British provider of intelligent communication automation, smart mail and parcel locker solutions, determined Rimini Street’s quality and cost-effectiveness can be leveraged as a key accelerator to its modernization projects for its SAP systems in Germany and France. With Rimini Street, Quadient was able to modernize its existing SAP solution by upgrading the operating system, database, and legacy interfaces without disruption.
“The best part is that our customers have not seen any difference. We are still working together, but with upgraded and compliant systems. We can be ISO certified. This is key to working with partners such as the UK Post Office,” said Hugues Piet Lataudrie, row director BO Solutions and Digital BP at Quadient.
“Rimini Street empowers SAP licensees with the ability to explore a wider selection of solutions that best fit their business needs of today and tomorrow. Freedom from vendor-dictated roadmaps often riddled with costly, unneeded upgrades and migrations, allow IT leaders to focus invaluable time, budget and company resources on strategic projects to fuel growth,” said Luiz Mariotto, group vice president and principal product manager of SAP at Rimini Street. “We invite all SAP licensees to leverage the SAP Savings Calculator to assess their own potential savings and join the more than 800 SAP licensees that have selected Rimini Street. With guaranteed additional 15 years of quality, dependable support of mission-critical systems, Rimini Street helps IT be viewed as a strategic partner to the business, not a cost center.”
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 5,200 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 riministreet.com, and connect with Rimini Street on Twitter, Instagram, 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 “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seem,” “seek,” “should,” “will,” “would” 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, including the disposition of pending motions to appeal; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period costs; 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; 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 August 2, 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.
View source version on businesswire.com:https://www.businesswire.com/news/home/20230810873296/en/
CONTACT: Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
KEYWORD: NEVADA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: SOFTWARE NETWORKS INTERNET CONSULTING DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY SECURITY
SOURCE: Rimini Street, Inc.
Copyright Business Wire 2023.
PUB: 08/10/2023 09:00 AM/DISC: 08/10/2023 09:02 AM
http://www.businesswire.com/news/home/20230810873296/en
