Rimini Street Support for Oracle Enables Southern Cross Electrical Engineering to Fund and Staff Expansion of Its Business Services

Rhea-AI Summary

Rimini Street (NASDAQ: RMNI) announces a significant partnership with Southern Cross Electrical Engineering (SCEE) to support its Oracle applications during its business expansion. This collaboration allows SCEE to redirect budget and IT resources towards innovation, addressing challenges posed by the industry-wide IT skills shortage. By switching to Rimini Street, SCEE mitigates high vendor support costs and avoids unnecessary upgrades. The transition is anticipated to enhance operational efficiency and empower strategic initiatives, including a hybrid cloud service for better collaboration.

Positive

• SCEE has redirected budget and resources towards innovation and digital transformation projects.
• Transition to Rimini Street reduces high annual maintenance costs from Oracle.
• SCEE avoids an unnecessary and costly upgrade, freeing resources for strategic initiatives.
• Enhanced service quality; SCEE reports nearly all support tickets rated as 'five stars'.

Negative

• None.

Australian leading electrical and maintenance services company able to refocus budget and its IT resources to enhance its digital transformation initiatives

SYDNEY & AUCKLAND, New Zealand--(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 Southern Cross Electrical Engineering (SCEE) has switched to Rimini Street for support of its Oracle applications. The agreement enables SCEE to better maintain its Oracle applications during a business expansion and amidst an industry wide IT skills shortage.

In addition, the support from Rimini Street means SCEE has freed up budget and IT resources to focus on innovation and transformation projects which improve the efficiency and competitiveness of the entire organization.

“An investment in enterprise software should drive a business forward, not hold it back,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “Unfortunately for many organizations, annual maintenance fees from the vendor aren’t just expensive, but they drain valuable internal resources. These two factors conspire to constrict innovation in businesses across the globe, when maintenance and support should do the opposite and provide businesses with the flexibility and time to strategically develop their smart path forward.”

SCEE is a leading electrical, instrumentation, communication and maintenance services company which has operated in Australia since 1978. The organisation is comprised of business units and acquisitions which span commercial, mining, industrial, utilities, transport, and energy infrastructure, with a focus on decarbonization. These units leverage skills and systems off each other, with a goal of partnership across the business to improve efficiency. The Group ICT function is to simplify the systems and processes in use across the varying units and ensure that collaboration is optimized.

SCEE leverages a shared-service platform to optimize costs and value

SCEE relied on its Oracle applications as a shared technology platform, but the Company experienced expensive vendor software support costs and required an excessive amount of internal IT resources to manage the platform. Furthermore, the software vendor was requiring a mandatory, expensive, and unnecessary upgrade to maintain full vendor support, despite SCEE’s current release being stable, proven and meeting its needs.

“Annual support and maintenance from Oracle were just too expensive, and the various nuances made the applications difficult to manage internally – it was not meeting our needs,” said Imre Szabo, Group ICT Manager, SCEE.

Without available internal resources, SCEE was unable to focus on its strategy to build a business application platform that fosters collaboration and optimizes efficiency and productivity across the group. SCEE wanted to find a way to avoid a costly upgrade while reducing both the costs of annual maintenance and the internal labor effort required by its IT team to keep the system running smoothly and reliably.

The company began looking for third party options and turned to Rimini Street to take over the maintenance and support of its Oracle applications.

“Five Star” support and additional budget, resources help accelerate transformation

Each Rimini Street client 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. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in enterprise software and backed by a team of functional and technical engineers. In addition, Rimini Street can support SCEE’s current Oracle applications beyond the vendor-dictated support deadline.

“Moving to Rimini Street has freed us to improve business services, workloads and processes, and ensured we don’t have to undertake an expensive and unnecessary upgrade from an Oracle version that is perfect for our needs,” said Szabo. “Our key people can now address procurement, invoicing, or hotdesking inefficiencies and look at innovative ways to improve how we do business.”

SCEE’s team now has the additional time in the day and the budget required to focus on strategic business initiatives, including a move towards a hybrid cloud service which will enable SCEE’s multiple business units to more easily collaborate and operate. Furthermore, SCEE has received superior service whenever support tickets are raised.

“The IT department leaves independent reviews for each closed support ticket and they’re almost entirely five stars,” said Szabo. “Moving to third party support wasn’t just about reducing cost, but also reducing the effort required to deal with the software vendor. Rimini Street had a great reputation for providing exceptional service while also being incredibly easy to work with, and our experiences with them so far validate that reputation.”

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, over 4,800 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 economic, operational and financial impacts on our business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the pandemic; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends, including inflation, rising interest rates and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates and the industries in which our clients operate; the evolution of the enterprise software management and support landscape facing our clients and prospects and our ability to attract and retain clients and further penetrate our client base; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; adverse developments in and costs associated with defending 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; customer adoption of our 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 employees and key 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 August 3, 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.

© 2022 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/20221019005667/en/

Natalie Silva

Rimini Street, Inc.

210-517-1655

pr@riministreet.com

Source: Rimini Street, Inc.

FAQ

What recent partnership did Rimini Street (RMNI) announce?

Rimini Street announced a partnership with Southern Cross Electrical Engineering (SCEE) to support its Oracle applications.

How will the partnership with SCEE impact Rimini Street (RMNI)?

The partnership allows Rimini Street to provide SCEE with cost-effective support, which helps SCEE focus on innovation and efficiency during its business expansion.

What benefits does SCEE expect from switching to Rimini Street (RMNI)?

SCEE expects to reduce high vendor support costs, avoid unnecessary upgrades, and allocate resources towards strategic initiatives and operational efficiencies.

How has SCEE rated the support from Rimini Street (RMNI)?

SCEE has reported that nearly all support tickets raised with Rimini Street are rated as 'five stars'.