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 Manukau Institute of Technology Limited (MIT) has switched to Rimini Street for support of its Oracle applications . MIT’s switch to Rimini Street enables MIT to continue using its current, stable and valuable Oracle software for five, ten, fifteen or more years into the future without any required upgrades – while receiving more responsive and robust support.
“Our goal is to ensure our clients’ support needs are met, whatever they may be. Many organizations are pushed into costly, unnecessary and disruptive upgrades by enterprise software companies, because they don’t know about Rimini Street’s proven support programs that do not require upgrades or migrations,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “MIT proves that you can avoid both upgrades and disruptions by turning to Rimini Street support and gaining years of application and technology roadmap flexibility.”
Support Needed to Maintain IT Roadmap Flexibility
MIT hosts 11,000 students on five campuses and provides technical, vocational and professional training education on subjects including hairdressing, automotive, engineering, and digital technologies. The nursing school provides a unique opportunity for Māori and Pacific students to study cultural health care practices and learnings to best support their communities.
MIT runs several Oracle applications critical to the Institute, including finance, student management and data warehousing. However, the vendors providing MIT’s student management and finance services decided to move away from Oracle support, as each application had been earmarked by the vendor with end-of-life dates where full support would cease in 2023. The institution would have faced costly upgrades to the latest versions in order to remain fully supported by the software vendor.
“We were in a bind. We knew the software vendor’s support for each Oracle application would cease next year, but we wanted to continue using our current applications,” said Gerald Masters, Head of Technology, MIT. “Our current Oracle version was stable, and there was no reason for us to move off it other than Oracle saying ‘we had to’.”
The institute needed to find a way to enable it to continue to use its current software and obtain mission-critical support, while also providing it with the sufficient time needed to identify and implement its next-generation of finance and student management systems.
“Rimini Street stepped up with a unique value proposition and service solution. They could keep us on our current version, which meant we could avoid upgrading to a new Oracle version, at great expense, that we didn’t want or need,” said Masters. “Rimini Street will provide support for our existing system while giving us the flexibility to decide our next steps in our IT roadmap without pressure. This was a key reason why we made the shift as it really helps us out of a tough situation with a great solution.”
Award-Winning Comprehensive Support
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. Furthermore, Rimini Street ensured a well-controlled transition with upfront information, a dedicated project manager, and continual updates on progress.
“Rimini Street support allowed us to get on with business as usual,” said Masters. “We’re undergoing an institution-wide transition and working to a deadline. Waiting for a patch or an update that takes systems offline for days at a time would have really hindered our other internal efforts, so having Rimini Street support there ensures our mission-critical systems are online and working smoothly, so we’re pleased to know Rimini Street has us covered.”
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 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, nearly 4,700 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)
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 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 continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 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; the customer adoption of our recently introduced 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 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 May 4, 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/20220720005671/en/
Rimini Street, Inc.
+1 (312) 515-4756