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Rimini Street, Inc. (Nasdaq: RMNI) announced that Origin Energy, a major Australian energy provider, has transitioned to Rimini Street Support for its Oracle software suite. This shift aims to significantly lower annual support costs and reduce the burden of vendor upgrades, thus allowing Origin Energy's team to focus on high-value projects. With a vast Oracle footprint, including over 100 database instances, this partnership is expected to enhance innovation while benefiting from Rimini Street’s prompt support services with response times averaging 10 to 15 minutes.
Positive
Origin Energy expects significant reductions in annual support fees.
The support model allows Origin Energy to redirect resources to high-value business initiatives.
Rimini Street offers an industry-leading service agreement with fast response times, enhancing operational efficiency.
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Leading Australian energy company attracted to support model and avenue to reduce costs
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 Origin Energy, a leading energy provider in Australia, has switched to Rimini Street Support for its Oracle software including e-Business Suite, Oracle Database, Fusion Middleware and Hyperion. Leveraging Rimini Street for support of its Oracle software will help Origin Energy materially reduce its annual support fees and avoid the process of implementing recurring vendor updates and upgrades, enabling the company to free up internal personnel to focus on high-value business initiatives.
Origin Energy Switches to Rimini Street Support (Photo: Business Wire)
Move to Rimini Street Reduces Costs and Helps Accelerate Innovation
Origin Energy is a large producer of electricity and natural gas and a leading provider of solar power and broadband services. Origin is also one of the largest energy retailers in Australia with 4.3 million customer accounts. The company has a vast Oracle footprint for its core ERP system environments (retail customer billing, financial accounting, asset management) with over 100 database instances.
“We identified that one of our largest database OPEX costs was our maintenance and support. We were attracted to the value proposition and support model offered by Rimini Street, as the Company gave us an avenue to materially reduce our database costs and avoid further upgrades in the future,” said Cameron Adams, head of architecture and database services for Origin Energy.
Cloud Migration and ERP Transition
“Origin has been on a journey in recent years of migrating all of our application workloads to the cloud,” continued Adams. “Working with Rimini Street has helped us further simplify some of our activities and the Company has become a valuable component in our overall IT strategy. Importantly, we have been able to redeploy some of our cost savings into higher value activities, with our teams now focusing on more proactive database work, recently establishing a new open-source database support framework and migrating some databases to PostgreSQL. Now, when we get a new workload, we look at open source offerings or managed database services as a first priority.”
“Phenomenal” Software Support and Fast Response Times
As with all Rimini Street clients, Origin Energy is assigned a Primary Support Engineer with an average of 20 years’ experience in the client’s enterprise software and backed by a team of functional and technical engineers. In addition, Origin now 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.
“With Rimini Street you call your Primary Support Engineer straight away or log a ticket via the portal and you get a call back within about 10 minutes,” said Adams. “The support we receive for level one incidents is phenomenal, and we get an expert on the phone that knows the right question to ask and how to direct the resolution process.”
“As businesses look to build resilience to shocks like the pandemic, many organizations will need to continue to reduce costs and inefficiencies,” said Daniel Benad, group vice president and regional general manager, Australia, New Zealand and South Pacific, Rimini Street. “From there they can begin to shift precious resources to investing in advancing their business and cultivating new sources of revenue. But pandemic or no pandemic, IT departments which are burdened with upgrades and updates which generally add no additional value to the bottom line, will have a hard time finding ways to innovate. We’re delighted to support Origin as it advances its own business-driven IT roadmap.”
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.
