Bridge Bank Provides $15 Million in Financing to Rimini Street
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.
Automotive Manufacturer Turns to Rimini Street for Support
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.
Companies leveraging threat of third-party SAP support to cut costs
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.
Third party support driving down Oracle and SAP maintenance costs by up to 25% - Customers are using proposals from the likes of Rimini St to renegotiate fees
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 increases pressure on Oracle and SAP with impressive EMEA growth
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.
THE Journal: Rochester District Shifts to Third-Party Provider for PeopleSoft Support
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: SAP's Maintenance Price Hike Should Concern Sourcing Professionals and Their CIOs
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: SAP Standard Support price rise: why now?
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.
Maintenance is the battleground, innovation the prize
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.
ZDNet: Rimini Street continues momentum, signals IPO
Rimini Street reported its largest sales quarter in Company history and once again achieved record year-end results for fiscal 2012. The Company also announced strong sales across all product lines, including its newly launched Support for Oracle Hyperion.