With significant cost savings and
optimization of IT resources, Malaysian conglomerate reallocates
people, time and money towards digital transformation
initiatives
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of
end-to-end enterprise software support, products and services, the
leading third-party support provider for Oracle and SAP software,
and a Salesforce and AWS partner, today announced that Sunway
Group, Malaysia’s leading conglomerate, has selected Rimini ONE™,
Rimini Street’s powerful combination of Rimini Support™ and Rimini
Manage™ services, to improve software support and capabilities,
optimize IT spending, and reallocate resources towards strategic
digital transformation projects.
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Sunway Group Selects Rimini Street’s
Software Support and Managed Services to Fund and Staff AI and CX
Projects (Graphic: Business Wire)
Kevin Khoo, chief information officer of Sunway, shared, “Rimini
Street has enabled our acceleration in digital adoption journey by
providing cost savings which we reinvested back into technology
initiatives, has given us peace of mind with our system support
needs, and confidence in our ability to explore new opportunities
because we know Rimini Street will always be able to support
us.”
Sunway Finds a Trusted IT Partner and Growth Enabler in
Rimini Street
In early 2000, Sunway selected JD Edwards as its core ERP
system, adopting it across all 13 businesses of the conglomerate
which includes construction, property, healthcare, leisure,
hospitality, REITs and more.
“JD Edwards made it so easy for us to customize to meet our
business needs. We put in our best practices into the system, and
created a center of excellence that can do a lot of JD Edwards
implementation customization by ourselves,” said Khoo. “But when we
had to do a software upgrade, the process cost a lot, not only the
dollar value, but also the downtime associated with the upgrades
and the people that we have to put into the project, which includes
implementation, testing and support after the upgrade.”
He adds, “The people that we have doing the upgrade, we could
have found better use for them. There are many digital initiatives
the group would like to embrace. However, because of the resources
that were stuck in the upgrade process, these projects were
constantly pushed behind.”
Another challenge for Khoo and team were the hurdles it took to
get support from Oracle when critical issues arose. Khoo recalled,
“Here we are fighting fire, and all we can do is wait. Oracle
typically does not support customizations, and will begin to ask
questions such as ‘Is this part of their work, or is this something
that we have to address ourselves?’”
After speaking with many Rimini Street clients and receiving
“nothing short of amazing comments,” according to Khoo, he began
his engagement by first selecting Rimini Support, then adding
Rimini Manage following the success and value derived from the
former.
Since choosing Rimini Street as their trusted IT partner, Sunway
continues to benefit from:
- Direct access to a named, dedicated Primary Support Engineer
(PSE) backed by the expertise and knowledge of hundreds of
engineers across the globe
- Expert support and management of its software including support
for customizations at no extra charge
- Guaranteed 15 additional years of stable, reliable and
compliant ERP investment
- Savings of 50% on annual support fees and up to 90% on total
support costs
“The cost savings from Rimini Street have given us the
opportunity to invest in innovation, especially AI. Every dollar
we’ve saved has been reinvested to strategic technology adoption
that aligns with our key business goals,” said Khoo. “Without
Rimini, a ton of our projects would still be stuck at the proposal
stage. Instead, they’ve allowed us to start executing AI projects
and other major tech initiatives that will be fundamental to
competing and providing an excellent customer experience going
forward.”
Learn more about Sunway Group’s story of innovation in
partnership with Rimini Street here.
Explore the full Rimini Street portfolio of ultra-responsive,
trusted and proven support, managed services, security,
integration, observability, professional services and Rimini ONE™
end-to-end outsourcing solutions for SAP, Oracle and Salesforce
applications to support competitive advantage, profitability and
growth.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is
a global provider of end-to-end enterprise software support,
products and services, the leading third-party support provider for
Oracle and SAP software and a Salesforce and AWS partner. The
Company has operations globally and offers a comprehensive family
of unified solutions to run, manage, support, customize, configure,
connect, protect, monitor, and optimize enterprise application,
database, and technology software, and enables clients to achieve
better business outcomes, significantly reduce costs and reallocate
resources for innovation. To date, over 5,500 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 enterprise software solutions provider. To learn more,
please visit riministreet.com, and connect with Rimini Street on
Twitter, Instagram, 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 “anticipate,” “believe,” “continue,”
“could,” “currently,” “estimate,” “expect,” “future,” “intend,”
“may,” “might,” “outlook,” “plan,” “possible,” “potential,”
“predict,” “project,” “seem,” “seek,” “should,” “will,” “would” 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, adverse developments in and costs
associated with defending pending litigation or any new litigation,
including the disposition of pending motions to appeal and any new
claims; additional expenses to be incurred in order to comply with
injunctions against certain of our business practices and the
impact on future period revenue and costs; changes in the business
environment in which Rimini Street operates, including the impact
of any recessionary economic trends and changes in foreign exchange
rates, as well as general financial, economic, regulatory and
political conditions affecting the industry in which we operate and
the industries in which our clients operate; the evolution of the
enterprise software management and support landscape and our
ability to attract and retain clients and further penetrate our
client base; significant competition in the software support
services industry; customer adoption of our expanded portfolio of
products and services and products and services we expect to
introduce; our ability to sustain or achieve revenue growth or
profitability, manage our cost of revenue and accurately forecast
revenue; estimates of our total addressable market and expectations
of client savings relative to use of other providers; variability
of timing in our sales cycle; risks relating to retention rates,
including our ability to accurately predict retention rates; the
loss of one or more members of our management team; our ability to
attract and retain additional qualified personnel, including sales
personnel, and retain key personnel; challenges of managing growth
profitably; 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;
risks associated with global operations; 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 regulations; our
ability to maintain an effective system of internal control over
financial reporting; our ability to maintain, protect and enhance
our brand and intellectual property; 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
tax reserves; the impact of environmental, social and governance
(ESG) matters; 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
transition to SOFR or other interest rate benchmarks; the
sufficiency of our cash and cash equivalents to meet our liquidity
requirements; the amount and timing of repurchases, if any, under
our stock repurchase program and our ability to enhance stockholder
value through such program; uncertainty as to the long-term value
of Rimini Street’s equity securities; catastrophic events that
disrupt our business or that of our clients; and those discussed
under the heading “Risk Factors” in Rimini Street’s Quarterly
Report on Form 10-Q filed on May 2, 2024, 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.
© 2024 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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version on businesswire.com: https://www.businesswire.com/news/home/20240530267759/en/
Janet Ravin VP, Global Communications Rimini Street, Inc. +1 702
285-3532 pr@riministreet.com
Rimini Street (NASDAQ:RMNI)
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