Monday, January 28, 2019

Prominent Trade Consulting Firm in South Korea Switches to Rimini Street Support for Its Oracle Database

EC21 avoids unnecessary upgrades, improves platform stability, and frees up internal resources for more strategic work within the business

LAS VEGAS-Thursday 24 January 2019 [ AETOS Wire ]

(BUSINESS WIRE) -- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced that EC21, a leading export marketing and trade consulting firm in Korea, has switched to Rimini Street support for its Oracle Database software. By switching to Rimini Street, EC21 is able to dramatically reduce the total cost of maintenance of its Oracle Database by approximately 75 percent, and improved productivity within its IT department as resources can be reallocated to more strategic projects across the organization. EC21 can also maintain its robust, stable database platform for a minimum of 15 years from the time the company moved to Rimini Street, avoiding any unnecessary upgrades just to retain full support from the vendor.

Mandate to Lower Support Costs and Maximize System Utilization

Established in 2000, EC21 provides professional consulting services for trade, connecting buyers from nearly 30 countries to local Korean SMEs who want to export their items and services. After 18 years in operation, EC21 has amassed a very large database with more than 2.3 million client contacts, seven million products, and 2.5 million international buyers. The company has been using Oracle Database since its inception to house and manage this critical data, but began to seek ways to reduce the steep annual maintenance and support costs. The company also wanted support in maximizing the utilization of their system to ensure that they were getting the most out of its performance. While EC21 did consider migrating to another database, this turned out to be a larger project than anticipated in terms of the cost to migrate and the disruption to their business. The company reviewed third-party support options instead, and ultimately chose Rimini Street. This provided them with the best of both worlds – the ability to remain on their robust, stable database software, while at the same time drastically reduce the cost to maintain the system.

“We use Oracle Database as our core system for managing critically important data. However, the cost of maintaining this platform with Oracle was quite steep. Compared with the money we were spending, the service we received in return was very limited, the ROI was extremely low, and there appeared to be few options available from the vendor,” said Hak-joon Lee, senior research associate, New Commerce Team, New Business Division, EC21. “As a result, we selected Rimini Street’s comprehensive support for our existing software release and to avoid unnecessary upgrades for at least 15 years. Rimini Street provides us huge value and an outstanding solution which we can trust.”

Unparalleled Maintenance and a Primary Support Engineer

As with all Rimini Street clients, a senior PSE (Primary Support Engineer) with more than 15 years of experience on average, was assigned to support EC21’s Oracle Database platform, and as a result, the company experiences a much higher quality, ultra-responsive support in comparison to the call center model provided by the vendor. Rimini Street’s PSEs, and the technical team behind them, provide support for all issues, including support for all customizations, and ensure a service level agreement of responding within 15 minutes for all P1 critical issues.

“Although our IT support costs took up a huge portion of our overall budget, we were cautious about transitioning to another support provider as we worried about maintaining system stability and possible business disruption,” continued Lee. “However, as numerous organizations across the world already leverage Rimini Street support, its proven support model, and the fact that our PSE responds directly to our inquiries, this all added up to a sound solution for our business. Switching to Rimini Street has reduced a lot of work stress, and I feel confident that we are working with the best third-party support provider in the world.”

“EC21 has discovered what all Rimini Street clients experience – a premium level of support, unlike what they previously experienced with the original software vendor, and a proven means for liberating substantial funds to invest into other areas of the business,” said Kevin Kim, country manager, Korea, Rimini Street. “In addition, by making the switch to Rimini Street, CIOs can take back the control of their ERP roadmap and instead plan their business-driven IT roadmap which more closely aligns with their organization’s overall objectives.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products. 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 1,700 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, 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, continued inclusion in the Russell 2000 Index in the future; 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; the terms and impact of our 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; 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 10-Q filed on November 8, 2018, which disclosures amend and restate the disclosures appearing under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 15, 2018, and as updated from time to time by Rimini Street’s future 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.

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Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414

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