Hankook Tire Switches to Rimini Street Support for its SAP Applications

Rhea-AI Summary

Rimini Street, Inc. (Nasdaq: RMNI) has announced that Hankook Tire has switched to Rimini Street Support for its SAP ECC 6.0 applications, achieving a 50% reduction in annual maintenance fees. This strategic shift allows Hankook to focus on developing innovative technologies like artificial intelligence and digital sensors. Rimini Street provides 24/7 expert engineer support with industry-leading service levels, enhancing operational efficiency and enabling clients to invest in growth initiatives.

Positive

• Hankook Tire reduced annual maintenance fees by 50%.
• Rimini Street provides 24/7 expert support with a 10-minute response time for critical issues.
• The switch allows Hankook to focus resources on innovation and technology development.

Negative

• None.

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 leading global tire company Hankook Tire has switched to Rimini Street Support for its SAP ECC 6.0 applications. Hankook Tire reduced its annual maintenance fees by 50% with Rimini Street Support. With the efficiencies gained from switching, the company plans to focus its resources on developing innovative technology capabilities, including artificial intelligence and digital sensors.

Hankook Tire Switches to Rimini Street Support for its SAP Applications (Photo: Business Wire)

Receive Ultra-Responsive ERP Support and Optimize IT Costs

Founded in 1941, Hankook Tire was the first automobile tire company in Korea and has grown to be a market leader in tire manufacturing worldwide. Currently operating in over 180 countries, Hankook Tire has eight production sites and five R&D centers worldwide, with over 20,000 employees. The company’s CIO began to explore third-party support to address the need for more technical enterprise software expertise and support services for its heavily customized SAP ECC 6.0 applications. After learning about Rimini Street’s quality of support, Hankook Tire decided to switch support providers to benefit from the Company’s high-value, ultra-responsive SAP support.

“Keeping our business performing efficiently and at its highest level is very important to us. The company is on the fast track to digital transformation with the pursuit of innovation and technological excellence at our core,” said Seyul Ryu, chief digital and information officer, Hankook Tire. “After learning about Rimini Street’s global availability and expert engineer support, we decided to switch our mission-critical ERP application support to Rimini Street to gain efficiencies and free up resources to focus on maximizing manufacturing operations.”

Expert Engineers Available 24/7 Worldwide

Hankook Tire, along with all Rimini Street clients, is assigned a Primary Support Engineer, backed by a team of functional and technical experts, who have an average of more than 15 years’ experience in the client’s software system. All clients also benefit from the Company’s industry-leading service level agreements of 10-minute response times for critical Priority 1 cases and 15-minute response time for Priority 2 issues.

“Most manufacturing companies, including Hankook Tire, are focusing on pursuing innovations in this demanding economic environment. Rimini Street enables these companies to take back the control of their IT roadmap, find efficiencies and free up funds to invest in innovation aligned with its business to drive competitive advantage and growth,” said Hyungwook “Kevin” Kim, regional general manager, Korea, Rimini Street. “Rimini Street has helped more than 4,000 clients worldwide gain peace of mind by providing a team of expert engineers available 24/7 with a 10-minute response time for critical issues, as well as providing the technical and functional advice to maximize their existing software investment.”

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, more than 4,000 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.

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 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 duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its current and prospective clients, 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; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s outstanding 13.00% Series A Preferred Stock, including Rimini Street’s ability to complete its previously-announced partial redemption of its Series A Preferred Stock on the terms and conditions described in its Current Report on Form 8-K dated March 16, 2021; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; customer adoption of Rimini Street’s recently introduced products and services, including its Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other products and services Rimini Street expects 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 risks discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 3, 2021 and as updated from time to time by 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.

© 2021 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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FAQ

What was the main announcement from Rimini Street regarding Hankook Tire?

Rimini Street announced that Hankook Tire has switched to Rimini Street Support for its SAP ECC 6.0 applications.

How much did Hankook Tire save on maintenance fees by switching to Rimini Street?

Hankook Tire reduced its annual maintenance fees by 50% by switching to Rimini Street Support.

What is the significance of Rimini Street's support services for Hankook Tire?

Rimini Street's support enables Hankook Tire to focus on developing innovative technologies, including AI and digital sensors.

What kind of support does Rimini Street provide to its clients?

Rimini Street offers 24/7 support with expert engineers and a 10-minute response time for critical issues.

What is the stock symbol for Rimini Street?

The stock symbol for Rimini Street is RMNI.