LAS VEGAS-Wednesday 24 July 2019 [ AETOS Wire ]
(BUSINESS WIRE)-- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that Seoul Semiconductor, a global LED development and manufacturing company headquartered in South Korea, has switched from SAP to Rimini Street for support of its SAP ECC 6.0 system. As a result, Seoul Semiconductor has been able to reduce its annual maintenance fee by 50%, enjoy better support and can continue operating its stable, robust ERP ECC 6.0 system for a minimum of 15 additional years from the date the company switched to Rimini Street to retain full support without any forced upgrades or product migrations.
Reducing Cost and Single Vendor Reliance
Seoul Semiconductor operates across 50 offices globally, including four global manufacturing sites. The company has been using the SAP ECC 6.0 platform interlocked with a warehouse management system and has been happy with the functionality and stability of its ERP system. However, the business mandate was to optimize cost across the business and reduce reliance on a single vendor.
When SAP announced its planned 2025 end of mainstream maintenance support date for the ECC 6.0 product, Seoul Semiconductor began searching for alternatives that would allow it to leverage its SAP system well past the 2025 date and tackle the high cost of annual support. In addition, the company wanted a solution that would enable it to continue using its existing SAP ECC 6.0 system instead of migrating to the immature S/4HANA, which would have required additional budget and resources. Third-party maintenance services were considered an option to reduce their reliance on SAP and lower annual maintenance costs. After reviewing their options in full, Seoul Semiconductor ultimately selected Rimini Street as a partner who could help them achieve all of their objectives.
“CIOs and IT leaders are tasked with supporting their organization’s growth strategy as well as improving efficiency and investing in digital transformation while at the same time reducing their IT expenditure,” said Myung-Gi Hong, vice president, Management Innovation, Seoul Semiconductor. “As a percentage of our overall IT budget, the maintenance and other associated costs to run our SAP system were too high. Additionally, the services we received from SAP were limited compared to the costs and we were not even getting support for our customizations/add ons, resulting in a very low ROI. So after detailed analysis and consideration of options, we decided to switch to Rimini Street for support of our SAP ECC 6.0 system.”
Ultra-Responsive, Personalized Support
As with all Rimini Street clients, Seoul Semiconductor was assigned a senior-level primary support engineer (PSE) – on average Rimini Street’s PSEs have 15 years’ experience – who is backed by a team of technical experts who respond 24/7/365. All clients also receive the Company’s industry-leading service level agreements (SLAs) with a guaranteed response time of 15 minutes for critical (P1) issues, and a 30-minute response time for P2 cases.
“Rimini Street is a company that has the know-how and experience in providing comprehensive enterprise software support services. Under Rimini Street support, Seoul Semiconductor is able to maintain its current ERP system regardless of when SAP’s maintenance services ends for the ECC 6.0 product. We also receive a very personalized approach to our support needs from our primary support engineer – this was quite an innovative change,” continued Hong. “In this competitive environment, our IT policy is to break away from vendor dependencies, lead and invest in digital transformation, and strengthen our technical skills. Rimini Street is a strong and reliable partner who helps us achieve our goals, and who we plan to maintain a long-term relationship with.”
“CIOs are faced with the challenge of reducing total IT expenditure while simultaneously investing in business transformation projects to help their organizations achieve competitive advantages and grow,” said Hyungwook “Kevin” Kim, country manager, South Korea, Rimini Street. “By switching to Rimini Street, Seoul Semiconductor can now focus additional budget, resources and time on new innovation and transformation initiatives.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,850 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-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, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; the final amount and timing of any refunds from Oracle related to our litigation; 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 initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 9, 2019, 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.
© 2019 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/20190723005031/en/