With significant cost savings and optimization of IT resources, Malaysian conglomerate reallocates people, time and money towards digital transformation initiatives
(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 that Sunway Group, Malaysia’s leading conglomerate, has selected Rimini ONE™, Rimini Street’s powerful combination of Rimini Support™ and Rimini Manage™ services, to improve software support and capabilities, optimize IT spending, and reallocate resources towards strategic digital transformation projects.
Kevin Khoo, chief information officer of Sunway, shared, “Rimini Street has enabled our acceleration in digital adoption journey by providing cost savings which we reinvested back into technology initiatives, has given us peace of mind with our system support needs, and confidence in our ability to explore new opportunities because we know Rimini Street will always be able to support us.”
Sunway Finds a Trusted IT Partner and Growth Enabler in Rimini Street
In early 2000, Sunway selected JD Edwards as its core ERP system, adopting it across all 13 businesses of the conglomerate which includes construction, property, healthcare, leisure, hospitality, REITs and more.
“JD Edwards made it so easy for us to customize to meet our business needs. We put in our best practices into the system, and created a center of excellence that can do a lot of JD Edwards implementation customization by ourselves,” said Khoo. “But when we had to do a software upgrade, the process cost a lot, not only the dollar value, but also the downtime associated with the upgrades and the people that we have to put into the project, which includes implementation, testing and support after the upgrade.”
He adds, “The people that we have doing the upgrade, we could have found better use for them. There are many digital initiatives the group would like to embrace. However, because of the resources that were stuck in the upgrade process, these projects were constantly pushed behind.”
Another challenge for Khoo and team were the hurdles it took to get support from Oracle when critical issues arose. Khoo recalled, “Here we are fighting fire, and all we can do is wait. Oracle typically does not support customizations, and will begin to ask questions such as ‘Is this part of their work, or is this something that we have to address ourselves?’”
After speaking with many Rimini Street clients and receiving “nothing short of amazing comments,” according to Khoo, he began his engagement by first selecting Rimini Support, then adding Rimini Manage following the success and value derived from the former.
Since choosing Rimini Street as their trusted IT partner, Sunway continues to benefit from:
Direct access to a named, dedicated Primary Support Engineer (PSE) backed by the expertise and knowledge of hundreds of engineers across the globe
Expert support and management of its software including support for customizations at no extra charge
Guaranteed 15 additional years of stable, reliable and compliant ERP investment
Savings of 50% on annual support fees and up to 90% on total support costs
“The cost savings from Rimini Street have given us the opportunity to invest in innovation, especially AI. Every dollar we’ve saved has been reinvested to strategic technology adoption that aligns with our key business goals,” said Khoo. “Without Rimini, a ton of our projects would still be stuck at the proposal stage. Instead, they’ve allowed us to start executing AI projects and other major tech initiatives that will be fundamental to competing and providing an excellent customer experience going forward.”
Learn more about Sunway Group’s story of innovation in partnership with Rimini Street here.
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 5,500 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 and any new claims; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and 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, manage our cost of revenue and accurately forecast 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; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain 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; 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; the impact of environmental, social and governance (ESG) matters; 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 2, 2024, 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.
© 2024 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/20240530267759/en/
Permalink
https://aetoswire.com/en/news/54022840
Contacts
Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
