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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Rimini Street Inc    RMNI

RIMINI STREET INC

(RMNI)
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Rimini Street : Tokyo Energy & Systems Switches to Rimini Street for SAP Application Support

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05/19/2019 | 05:02am EDT

(AETOS 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 Tokyo Energy & Systems Inc., a leading construction company in Japan that installs and maintains equipment for power plants and substations, has switched to Rimini Street for support of its SAP application. By switching to Rimini Street, Tokyo Energy & Systems immediately realized savings of 50 percent in annual support fees, plus saved time, cost and resources previously used for their ERP operations, and has utilized these cost savings to improve their mail system, groupware and security system. Tokyo Energy & Systems is also planning to apply the savings toward the implementation of IoT devices that collect environmental data and maintenance needs from the company’s electrical facilities.

ERP Cost Analysis Leads to Operational Efficiency

Tokyo Energy & Systems has deployed nearly 1,500 SAP licenses since 2014 for accounting, inventory control, payroll processing and work management. The initial purpose of the ERP implementation was to centrally manage codes that are used to run and maintain construction sites nationwide. The company planned to start operating its ERP system one year after implementation, however it took two years to get the system fully operational because of the time required for user training which in turn caused delays in customizing their SAP system.

Although the system has been operating steadily since that time, the cost of running the hardware had become a long-standing issue and they decided to begin migrating to an Infrastructure as a Service provider in 2018. Additionally, the company conducted a review of their SAP platform, and the high maintenance costs were identified as a priority to address. During this process of examining their support costs, third-party support was raised as an option and, as a result, Rimini Street was selected.

“We were able to centrally manage construction sites by implementing the SAP platform, however the delay in getting the system operational greatly exceeded our planned schedule and the enormous costs to operate the system became a problem,” said Kotaro Matsuhashi, manager of ICT Promotion Department, Tokyo Energy & Systems. “Switching to Rimini Street, and migrating to the cloud, has allowed us to save substantial budget that has been used for updating our IT environment for construction sites across the country as well as improving our internal operational efficiency.”

Enhanced Support Model Accelerates Improvements for IT Environment

Tokyo Energy & Systems now receives an ultra-responsive, premium-level support for its current, stable SAP system for a minimum of 15 years from the time they transitioned to Rimini Street. The company was assigned a senior level Rimini Street Primary Support Engineer (PSE) – PSEs have an average 15 years’ experience – and receives Rimini Street’s industry-leading service level agreement (SLA) guaranteeing access to a team of local engineers 24/7/365 to address support issues and a 15-minute response time for Priority 1 critical cases.

“In the past, it took substantial time for the vendor to respond to our numerous IT service requests, which became a glaring problem,” said Masato Douzono, chief of the ICT Promotion Group, Tokyo Energy & Systems. “Now we receive rapid and precise support from Rimini Street, and the time we spend on system issues has been significantly reduced. Our team is able to concentrate on improving and advancing our IT environment instead of having to constantly manage our support issues with the vendor.”

Taking Back Control with a Business-Driven Roadmap

Tokyo Energy & Systems was able to successfully redirect their resources into updating and modernizing the organization’s IT infrastructure while taking back control of their IT roadmap by choosing a business-driven roadmap powered by Rimini Street designed around their business objectives.

“We renamed the Information System Department to ICT Promotion Department in 2018 and modernized our IT infrastructure,” said Yukihiro Kurihara, executive officer and general manager of the ICT Promotion Department, Tokyo Energy & Systems. “Leveraging Rimini Street services, our support costs were cut in half and we were able to free up internal resources which was a welcomed change. This allowed us the opportunity to take on new IT challenges, and work toward the actualization of our own business-driven IT roadmap versus following the roadmap of the vendor. Part of our future plans include extending our business to post-construction operation management of power facilities.”

“Tokyo Energy & Systems realized that to remain competitive and agile, they needed to advance their IT infrastructure to stay at the forefront of digital innovation,” said Yorio Wakisaka, general manager, Japan, Rimini Street. “By moving to Rimini Street, the organization was able to quickly transform their IT environment, which enabled the IT department to become more efficient, driving business growth and competitive advantage in a transforming energy market. The company regained control of their IT roadmap by freeing themselves from vender lock-in, and now they can maintain their current, stable SAP application while planning for the future on their terms.”

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 has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,850 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit http://www.riministreet.com/, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-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, 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; the final amount and timing of any refunds from Oracle related to our 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; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to 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 May 9, 2019, 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.

© 2019 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/20190516005014/en/

(c) 2019 CNPHUB - All Rights Reserved Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

Stocks mentioned in the article
ChangeLast1st jan.
RIMINI STREET INC 0.39% 5.16 Delayed Quote.-0.19%
TOKYO ENERGY & SYSTEMS INC. -2.73% 892 End-of-day quote.-5.61%
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Financials ($)
Sales 2019 273 M
EBIT 2019 14,0 M
Net income 2019 -15,4 M
Debt 2019 -
Yield 2019 -
P/E ratio 2019 -
P/E ratio 2020
Capi. / Sales 2019 1,18x
Capi. / Sales 2020 1,03x
Capitalization 321 M
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