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In an interview with ZDNet, Rimini Street CEO Seth Ravin discusses the company’s global growth and momentum, the launch of its newest product line Support for Oracle Retail and Rimini Street’s transition to becoming the leading enterprise software support provider in the industry.
Rimini Street names Daniel B. Winslow general counsel. Winslow was a member of the Massachusetts House of Representatives since 2011, chief legal counsel to former Massachusetts Governor Mitt Romney, and an accomplished judge and trial lawyer with more than 30 years of experience.
In his tech blog, industry analyst PJ Jakovljevic examines Color Spot and their successes with Rimini Street Support for SAP, which includes reducing their IT maintenance costs from 20 percent to only 9 percent of overall IT budget, improving SLAs, avoiding forced upgrades and using the savings to drive strategic growth for the business.
Computerworld profiles how Rimini Street client Color Spot Nurseries is using third-party support to break away from the traditional annual maintenance support model. According to Color Spot's CIO, "The biggest issue isn't the cost of the perpetual license...or the annual increases in SAP maintenance fees -- it's the fact that Color Spot wasn't getting much in return for the money it spent on maintenance."
Contracts and transactions are up for the enterprise software support company, giving it its largest sales quarter in history.
Based on Rimini Street webinar, "Analyst Insight on Oracle's Dilemma: The Conflict Between Fusion and Apps Unlimited," The Wall Street Journal reported that the vast majority of Oracle application users did not feel the need to upgrade from the company’s Applications Unlimited policy and that there is still a perception that Oracle will force customers to move to Fusion.
Bridge Bank announced the close of $15 million in funding for Rimini Street in this press release. This new round of capital financing will help fuel Rimini Street’s accelerating global expansion. Rimini Street recently announced its expansion into the Asia-Pacific region and Brazil, and growing momentum in EMEA. Bridge Bank has been a valued banking partner of Rimini Street since 2010.
Computerworld UK reports that UCI International, a leading US manufacturer in the automotive aftermarket, has decided to use Rimini Street to support its Oracle E-Business Suite (EBS) applications in a bid to save a substantial amount in annual support fees.
According to Constellation Research, the majority of SAP and Oracle customers who leveraged a third-party support proposal during software maintenance negotiations were able to secure an average 14-percent discount in their annual vendor maintenance fees. As the article reports, a proposal from Rimini Street makes the tactic “much more credible,” and is seen as a sign of maturity in the third-party support market.
Computerworld UK reports that Oracle’s and SAP’s “position of power is eroding” thanks to the success of third-party support providers like Rimini Street. The Company can provide licensees with competitive proposals in two business days or less, which could be used in negotiating an up to 25% discount on annual vendor maintenance fees.
Rimini Street posted “impressive growth results” in EMEA during 2012, doubling new sales in the region with 117% yoy growth, as reported by Computerworld UK. Additionally, the Company achieved $42+ million in new EMEA sales bookings and nearly doubled the total number of clients in the region, thanks to growing momentum and interest for Rimini Street’s support program among EMEA organizations.
Rochester City School District switched to Rimini Street for PeopleSoft Support after reference checks “showed that this firm was more highly rated than Oracle in terms of service and response times.” Additionally, the district was able to save about $6M over 10 years, avoid expensive forced vendor upgrades and gain support for customizations at no additional cost by moving to Rimini Street.
Forrester VP and principal analyst Duncan Jones weighs in on SAP's decision to increase its Standard Support costs. In his post, Jones states, "SAP already makes a very healthy profit on maintenance... Moreover, third-party support providers (3SPs) like Rimini Street can provide better support at half the price or less."
ZDNet examines the impact on customers from SAP's Standard Support fee hike taking effect July 2013. According to industry analysts, the level of support from SAP does little to justify such an increase. Rimini Street invites SAP licensees to get a proposal to use as potential leverage when negotiating annual support pricing with SAP, or gain premium service by switching to Rimini Street support.
ZDNet calls Rimini Street's innovative support model the possible "catalyst that completely changes the face of future enterprise software." While the software vendors continue to increase annual maintenance fees year over year, Rimini Street can save companies up to 90 percent in total support costs and help to fund strategic business and tech innovations.