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LAS VEGAS, October 5, 2015 - Rimini Street, Inc., the leading independent provider of enterprise software support services for SAP SE's (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, today announced delivery of its initial set of PeopleSoft 2015 year-end tax, legal and regulatory updates, 2015-D for the US and Canada, including instructions and guidance for year-end reporting. Delivered ahead of the vendor's own scheduled delivery date for similar updates, the most recent updates used Rimini Street's patent-pending tax, legal and regulatory research technology, a proven methodology and ISO 9001-certified development processes. This set of updates provides SAP and Oracle E-Business Suite North American payroll clients, as well as clients with operations in Denmark, Hungary, Japan, Romania and the United Kingdom, with significant new tax, legal and regulatory changes required to ensure client systems remain compliant with the growing number of legislative changes around the world. Additionally, Rimini Street updates include changes related to the Affordable Care Act affecting employers in the US. To date, Rimini Street has delivered more than 100,000 updates to hundreds of clients around the world.
In the US and Canada, Rimini Street delivered numerous tax, legal and regulatory updates required at the federal, state and local levels, many of which become effective January 1, 2016. At the United States federal government level, Rimini Street delivered a new W-2 form printing program and tax form definitions for year-end reporting. At the state government level, updates included minimum wage increases effective in 2016 for Alaska, California, Massachusetts, Nebraska, Vermont and West Virginia. Unemployment Insurance Taxable Wage Base figures were also adjusted for Iowa, Kansas, Michigan and Washington. Additionally, Rimini Street revised state withholding tables for Arkansas, Connecticut, Idaho, North Dakota and Ohio. At the local level, numerous local tax changes were included for Kentucky, Ohio and Pennsylvania. Rimini Street also delivered the "Year-End Processing 2015 US Reference Guide" containing detailed information on the data set-up, processing and printing of year-end tax forms.
In addition, Rimini Street provided updates to support the 2016 Affordable Care Act (ACA) Employer Shared Responsibility – Employer Reporting requirements. This included changes to the new 1094 and 1095 reporting forms, as well as corresponding electronic reporting requirements.
For clients in Canada, Rimini Street provided instructions for preparing year-end reporting, as well as provincial tax table updates for Alberta, effective October 2015. Rimini Street is closely monitoring information from the Canada Revenue Agency, as well as Revenu Québec, for tax changes that will be delivered in December and effective in January 2016.
With tax, legal and regulatory delivery capabilities for nearly 200 countries, Rimini Street recently provided many required updates to its global clients, including those in Denmark, Hungary, Japan, Romania and the United Kingdom.
For example, in Denmark Rimini Street updates contained changes to Danish VAT, including wording for sales invoices and details related to General Ledger. The update in Hungary defined changes to the recent Invoice Rules required by the Hungarian Minister for the National Economy. Multiple updates were provided to clients in Japan across client financials and payroll modules to support the introduction of My Number, the country’s new social security and tax identification number system effective January 2016. For clients in Romania, Rimini Street provided information regarding the recent reduction of VAT rates. Updates in the United Kingdom contained changes to the Beneficial Loans rate and the enhancement for Shared Parental Leave.
Rimini Street's tax, legal and regulatory strategy and scoping team is made up of veteran tax specialists, attorneys and international tax, legal and regulatory professionals who use advanced technology and numerous government and private-sector sources to monitor, collect and verify tax, legal and regulatory changes. These sources include more than 2,400 government web sites and close to 3,200 information sources covering more than 26,000 localities in nearly 200 countries.
Rimini Street also participates as a member in many prominent tax, legal and regulatory associations around the world, including the American, Canadian, United Kingdom and Australian Payroll Associations, the American Bar Association Section of Taxation, the Financial Executives International Association, The Tax Council and the Tax Executives Institute. The innovative combination of technology, a proven methodology and ISO 9001 quality processes consistently assures the fastest “legislature-to-live”SM update delivery cycle and highest quality deliverables in the industry.
"For close to a decade, Rimini Street has invested significantly and continues to invest in its dedicated tax, legal and regulatory practice in order to help clients around the world successfully run their mission-critical software," said Paul Henville, group vice president, Global Product Delivery, Rimini Street. "With more than 100,000 global tax, legal and regulatory updates delivered using patent-pending research technology, a proven methodology and ISO 9001-certified development processes, Rimini Street is the independent software support provider of choice for hundreds of clients worldwide who seek superior quality, accurate and timely deliverables tailored to their specific releases."
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for at least 15 years. Over 1,100 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
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