Leading South Korean Furniture Manufacturer Empowered to Focus on IT Modernization Goals After Switching to Rimini Street Support

Rhea-AI Summary

Rimini Street (NASDAQ: RMNI) announced that ENEX, a premier furniture manufacturer in South Korea, has transitioned its support services for SAP systems to Rimini Street. This change has allowed ENEX to cut annual support costs significantly and focus its IT workforce on essential modernization initiatives. With Rimini Street's high customer satisfaction rating of 4.9 out of 5.0 and a commitment to maintaining core SAP applications for 15 years, ENEX aims to leverage this partnership for future IT enhancements.

Positive

• ENEX reduced annual support fees by switching to Rimini Street.
• ENEX can maintain its SAP applications for 15 years without mandatory updates.
• Rimini Street has a high client satisfaction rating of 4.9 out of 5.0.

Negative

• None.

ENEX selects Rimini Street to leverage Company’s high-quality support and local expertise; plans to redirect its annual maintenance cost savings toward updating its IT infrastructure

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 ENEX, a leading furniture manufacturer in South Korea, has switched to Rimini Street Support for its mission-critical SAP system. As a result of switching support providers, ENEX was able to immediately reduce its annual support fees and redirect its internal IT personnel to focus on higher value business initiatives, including plans to update and modernize its IT infrastructure.

Leading South Korean Furniture Manufacturer Empowered to Focus on IT Modernization Goals After Switching to Rimini Street Support (Photo: Business Wire)

Switching to Ultra-Responsive Support and Maintenance Helps Drive Digital Transformation

Founded in 1971, ENEX is a top kitchen and home interior furniture manufacturer in South Korea, with both an online and offline distribution network. ENEX is the first major brand to introduce a modern approach to customized kitchen design.

ENEX switched to Rimini Street based on the Company’s strong reputation for providing ultra-responsive support, including support for all customizations, and its high average client satisfaction rating of 4.9 out of 5.0 (where 5.0 is “excellent”). ENEX also knew that by switching support providers the company would be able to free up resources – time, money and personnel – that could be redirected toward future high-value initiatives. In addition, ENEX is now able to maintain its core SAP applications for a minimum of 15 years from the time they made the switch, no longer requiring it to implement costly and disruptive release updates or upgrades just to stay fully supported by the vendor.

“With the prolonged COVID-19 crisis, the importance of optimizing our IT operations has increased,” said Yeon-soo Kang, department manager, Information Technology Department, ENEX. “Our SAP maintenance fees were taking up the lion’s share of our IT budget, even though an SAP application upgrade was unnecessary. We switched to Rimini Street to help us maximize the investment in our critical software and the company has proved to be a strong partner we can rely on to support our existing internally deployed systems, along with our future planned cloud-based IT infrastructure and modernization projects.”

Highly Personalized Support from Expert Engineers

As with all Rimini Street clients, ENEX was assigned a Primary Support Engineer who has an average of 20 years’ experience working with the client’s enterprise software and backed by a team of functional and technical experts. ENEX also benefits from Rimini Street’s industry-leading service level agreement of 10-minute response times for all critical Priority 1 cases, and 15-minute response times for Priority 2 cases.

“IT leaders in Korea are continuously challenged to deploy key initiatives to help their business transform and grow, but are often in a predicament trying to figure out how to fund these critical business initiatives when so much of their IT budget is locked up in their ERP system,” said Hyungwook “Kevin” Kim, regional general manager, Rimini Street Korea. “By choosing Rimini Street Support, ENEX has been able to free up precious resources, take back the control of their IT roadmap and plan for future IT modernization needs that are more aligned with their businesses’ goals to help achieve competitive advantage and growth.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000^® Company, 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 4,200 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 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 impact of our credit facility’s ongoing debt service obligations and financial covenants and operational covenants on our business and related interest rate risk, 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 COVID-19 pandemic; catastrophic events that disrupt our business or that of our 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; 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 new credit facility; our ability to maintain an effective system of internal control over financial reporting, and our ability to remediate identified material weaknesses in our internal controls, including in relation to the accounting treatment of our warrants; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the customer adoption of our recently introduced products and services, including our 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 we expect 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 discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 4, 2021, 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.

© 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211019005188/en/

Michelle McGlocklin

Rimini Street, Inc.

+1 925 523-8414

mmcglocklin@riministreet.com

Source: Rimini Street, Inc.

FAQ

What did Rimini Street announce regarding ENEX on October 19, 2021?

On October 19, 2021, Rimini Street announced that ENEX switched to its support services for SAP systems, allowing ENEX to reduce costs and focus on IT modernization.

How much did ENEX save by switching to Rimini Street support?

ENEX was able to significantly reduce its annual support fees after switching to Rimini Street.

What is Rimini Street's customer satisfaction rating?

Rimini Street boasts a customer satisfaction rating of 4.9 out of 5.0.

How long can ENEX maintain its SAP applications after switching to Rimini Street?

ENEX can maintain its SAP applications for a minimum of 15 years after switching to Rimini Street.