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AllianceCorp Manufacturing Accelerates Innovation by Shifting to Rimini Street Support for SAP S/4HANA
Rhea-AI Impact
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Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Rimini Street, Inc. (NASDAQ: RMNI) has partnered with AllianceCorp Manufacturing Holdings (ACM) to enhance its SAP S/4HANA software support. This collaboration allows ACM to focus on innovation and pursue new opportunities in sectors like electric vehicles and robotics. By leveraging Rimini Street's expertise, ACM aims to achieve greater business agility while maximizing return on its ERP investment. Rimini Street is targeting $1B in annual revenue by 2026.
Positive
Partnership with ACM enables greater agility and innovation.
Focus on high-demand sectors like electric vehicles and robotics.
Maximizing ROI on ERP investment through Rimini Street support.
Aiming for $1B in annual revenue by 2026.
Negative
None.
ACM Holdings gains business agility and provides greater value to customers, reinvests in strategic initiatives while maximizing return on its ERP investment
LAS VEGAS--(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 AllianceCorp Manufacturing Holdings (ACM), an international provider of integrated contract manufacturing solutions for precision parts, mechatronics modules, and equipment headquartered in Malaysia, has partnered with Rimini Street to support its SAP S/4HANA software.
AllianceCorp Manufacturing Accelerates Innovation by Shifting to Rimini Street Support for SAP S/4HANA (Photo: Business Wire)
ACM Holdings engaged in the strategic partnership with Rimini Street to re-evaluate the role of S/4HANA, the company’s core business application, to support business-critical customizations. Through this collaboration, Rimini Street has enabled ACM to craft a more agile environment to explore new opportunities and pursue innovation without disrupting the company’s core business operations.
Pursuing an Independent IT Roadmap
For manufacturing companies like ACM, which is on the leading edge of the fourth industrial revolution (i.e., Industry 4.0), a key strategy is to ensure resources are channelled toward what they do best – producing quality products for customers and not on building a big team of developers or support engineers. Its philosophy reflects in its bimodal IT strategy. Mode 1 is focused on ensuring a stable foundation to keep core systems and processes running. Mode 2 is oriented around innovation and exploration.
Since going live with SAP in 2003, ACM has spent a significant amount of time and resources managing through three implementations, constantly focused on updating to new versions instead of maximizing the value of existing investments and, more importantly, driving innovation for ACM. With Rimini Street, ACM continues running its current S/4HANA release to help maximize the ROI of its investment. Now that the company is stable and working efficiently, the improved quality of support from Rimini Street allows them to focus on customer needs, providing the bandwidth and resources required to invest in new ventures such as electric vehicles, robotics, healthcare, 3D printing, and innovations in agriculture and aquaculture.
“My job is to innovate, not reinvent. I do not want the burden of recreating a service I can purchase,” asserted Erik Looi, CIO at ACM. “A key factor for me is that we are able to pursue our own roadmap. Rimini Street gives me independence and freedom to make my own decisions about what is optimal for ACM.”
An Accommodating Partnership
Whether clients are currently running SAP ECC 5.0, ECC 6.0, S/4HANA or considering migrating to S/4HANA, Rimini Street’s award-winning support provides the engineering expertise and services required for any of these popular SAP systems – including support for custom code; tax, legal, and regulatory updates for the business environment; and advisory services for strategic application planning and interoperability optimization.
“Rimini Street supports clients running SAP, regardless of the application release or strategy they choose. With our software support for SAP, ACM was able to tailor their SAP system strategically and maintain greater control over every facet of their business, delivering a significant advantage in an unpredictable climate," said Andrew Seow, group vice president and regional general manager, Southeast Asia and Greater China, Rimini Street. “Rimini Street Support for SAP S/4HANA can help companies like ACM stabilize operations on current S/4HANA releases and help avoid the probable churn of ongoing upgrades and updates as an evolving S/4HANA system continues to mature over time.”
As Rimini Street expands its global portfolio of solutions on its road to achieving $1B in annual revenue by 2026, it is enabling clients like ACM to chart a smart path forward by helping them optimize, evolve and transform their technology landscape and systems as they build and execute their business of tomorrow.
Looi adds, “Rimini Street adapts to what we want to do, not the other way around. Now, well into our partnership, I have complete confidence in Rimini Street’s ability to support our SAP platform. The benefits are everywhere.”
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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, nearly 4,700 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 application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on 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, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of 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 discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 any new 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, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; 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 reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; 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 and data protection regulations; and those discussed under the headings “Risk Factors” and “Cautionary Note About Forward-Looking Statements” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 4, 2022, 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.
