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E-LAND Innople Chooses Rimini Street Support Services for SAP S/4 HANA
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Rimini Street, Inc. (NASDAQ: RMNI) announced a partnership with E-LAND Innople, a South Korean IT affiliate of E-LAND Group, to provide SAP support services. This collaboration significantly reduces E-LAND Innople's annual maintenance costs, enabling them to reinvest the savings into innovation and digital transformation initiatives. Rimini Street's support is noted for enhancing business agility, with dedicated engineers providing rapid response and high satisfaction levels. The partnership is a strategic move aimed at fostering growth in a competitive market.
Positive
Partnership with E-LAND Innople reduces annual maintenance costs.
Reinvestment of savings into IT technology and digital transformation.
Enhanced support capabilities lead to improved business agility.
Rimini Street provides dedicated engineers ensuring rapid response.
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South Korean Conglomerate Significantly Reduces Annual Maintenance Costs and Reinvests Savings in New Innovation Projects
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 E-LAND Innople, an IT affiliate of the South Korean conglomerate E-Land Group, has chosen Rimini Street Support for SAP. The move has drastically cut E-LAND Innople’s annual maintenance costs and freed up budget to fuel new IT technology, digital transformation, and online expansion.
E-LAND Innople Chooses Rimini Street Support Services for SAP S/4 HANA (Graphic: Business Wire)
Rimini Street Support Increases Business Agility
E-LAND Innople provides IT solutions across various industries including fashion, distribution, hotels, restaurants, and construction. The company is responsible for the IT operations of E-Land Group, including ERP management, AI and big data, leading a number of successful digital transformation efforts with forward-thinking investments. It also has adopted an agile innovation strategy to respond rapidly to the market environment and the rise of new technologies.
The team at E-LAND Innople was attracted to Rimini Street’s security capabilities, reliability, and its premier support services and global team, which is known in the industry for its high levels of client satisfaction. Rimini Street supports E-LAND Innople based on its unique and specific business situation, which included the need to reduce costs due to external factors such as the global pandemic, along with improving service quality. The company was particularly interested in Rimini Street's ability to provide support services regardless of whether vendors end their own full support for existing product versions.
At the outset, Rimini Street engineers comprehensively analyzed E-LAND Innople's business and digital infrastructure, including areas that required cost reductions. As a result, Rimini Street has served as a true consulting partner for IT operations rather than simply providing third-party support for the sake of cost savings.
“E-LAND Innople sought ways to reduce ERP maintenance costs after an internal review that revealed an SAP maintenance switch could contribute to a drastic reduction in operating costs," said Kim Ji-won, CEO of E-LAND Innople. "And the savings are only part of the story. Rimini Street’s dedicated SAP engineers provide incredibly rapid response and resolution, which enables us to make business decisions faster and more effectively.”
Through this partnership, E-LAND Innople not only receives extraordinary support service from Rimini Street, with IT incidents handled quickly and professionally, the company is significantly reducing the cost to maintain its ERP system. With these savings, E-LAND Innople can focus innovating its existing service to other E-Land Group subsidiaries and investing and enhancing its own customer bolt-on (CBO) program, which is specialized for E-Land Group's distribution, fashion, and logistics businesses and integrates with various other solutions including SAP ERP.
A Higher Level of Support to Meet Business Needs
E-LAND Innople works directly with dedicated, expert engineers who guarantee prompt, professional service and faster resolution for support and maintenance requirements. Like all Rimini Street clients, E-LAND Innople benefits from the Company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases, with local engineers available 24/7/365 for all issues. All clients are also assigned a dedicated Primary Support Engineer with an average of 20 years of experience working with enterprise software and backed by a team of functional and technical engineers.
“Most leading companies in Korea, including E-LAND Innople, are focused on pursuing innovation in a fiercely competitive environment,” said Hyungwook Kevin Kim, regional general manager, Korea, Rimini Street. “Rimini Street helps customers achieve a competitive advantage and drive growth by dramatically reducing application maintenance costs, which make up a significant portion of IT operating costs, ultimately allowing customers to use the savings to fund new business innovations.”
Rimini Street continues to expand its portfolio of solutions that are enabling organizations like E-LAND Innople 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.
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.
