Rimini Support™ for SAP enables manufacturer
to reallocate resources towards supply chain improvements, driving
stronger profitability and operational efficiency
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 an AWS partner, today announced that Standard Foods Corporation
has selected Rimini Support™ for SAP, enabling it to achieve
significant cost savings, improve quality of support for its
mission-critical SAP systems, and reallocate IT resources towards
projects that will drive stronger profitability and enable growth
for the leading Taiwanese food manufacturer and distributor.
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Standard Foods Partners with Rimini
Street to Fund AI-Powered Predictive Data Analytics Project
(Graphic: Rimini Street)
Jerry Lee, director of IT at Standard Foods shared, “Rimini
Street immediately halved our annual support costs and helped our
SAP systems run better than ever before. Because of the
efficiencies gained, my IT team can focus on using data to improve
sales estimations and benefit our partners and distributors. It
will be a game-changer for Standard Foods, made possible by Rimini
Street.”
Better Software Support Allows for More Focus on Data
Initiatives
On a search for better software support, Standard Foods received
strong recommendations by multiple IT partners and peers to explore
Rimini Street.
“What impressed me the most about Rimini Street was that they
took the time to get to know our systems in detail, and understand
our vision,” said Lee. “What sometimes took weeks to get resolved
with SAP, compared to the timeliness of the support that Standard
Foods gets from Rimini Street is really something else,” according
to Lee. He added, “The combination of fast response and expert
solutions has allowed us to increase our investment in AI and
machine learning but with less staff needed to keep those systems
running at full speed.”
“With Rimini Street, we only need three people to support the
five SAP modules we use, and we maintain full functionality,” Lee
shared. This frees up Standard Foods’ IT team to work on strategic
projects such as shifting from SAP’s BI reports to Power BI and
cloud-based machine learning for data analysis. By integrating AI
with real-time data, Standard Foods has enhanced decision-making
across its supply chain.
“Predicting how much to order is an ongoing challenge for
manufacturers, and a misstep in calculations in the supply chain
can impact profitability,” Lee noted. “By running various models
with real-time data and AI tools, we can both refine order
recommendations and improve procurement processes.”
Flexibility and Control of its IT Roadmap Alleviates S/4HANA
Upgrade Pressure
As an SAP ECC shop, Standard Foods is one of the many SAP
customers who will no longer receive vendor support for its ECC
platform past 2027. But they are unbothered by the timeline as they
are in full control of their IT roadmap since partnering with
Rimini Street.
“At this moment, moving to S/4HANA is not a priority nor do we
see it as a strategic move for our business. The ROI is just not
there. Perhaps in the future, we may want to consider it, but for
now, our efforts and focus will be on innovation, growth and
profitability,” said Lee.
“One of the impactful areas for AI in the supply chain is demand
forecasting. According to industry analysts, AI-based forecasting
techniques that incorporate real-time and multivariate data sources
can reduce forecasting errors by up to 50% compared to traditional
time-series based methods,” said Tyler Munger, vice president of
analytics at Rimini Street. “Many of our manufacturing clients
partner with Rimini Street to direct resources towards investing in
AI-fueled improvements that help with their top and bottom-line
goals.”
With Rimini Street, Lee has peace of mind knowing that his team
can access SAP expertise 24/7/365 with under 2-minute average
response times as they continue to evolve their IT roadmap. This
strategic partnership allows Standard Foods to continue its mission
of promoting healthy living by using data to optimize
operations.
Learn more about the business goals Standard Foods achieved by
partnering 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 and Oracle 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 an 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 5,600 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 X
(formerly known as 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 grow our revenue, manage our cost of
revenue and accurately forecast revenue; the expected impact of
recent and anticipated future reductions in our workforce and
associated reorganization costs; 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; our
business plan, our ability to grow in the future and our ability to
achieve and maintain profitability; our plans to wind down the
offering of services for Oracle PeopleSoft products; our need and
ability to raise 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; 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
July 31, 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240925511281/en/
Janet Ravin VP, Global Communications Rimini Street, Inc. +1 702
285-3532 pr@riministreet.com
Rimini Street (NASDAQ:RMNI)
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Rimini Street (NASDAQ:RMNI)
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