Rimini Street Quarterly Newsletter: Street Wise
Street Wise is our quarterly newsletter offering news and analysis of industry developments, snapshots of the exciting things our clients are doing, and the latest on innovative services available from Rimini Street.
CIOs today are no longer just being asked to keep the lights on or to keep business information surging through their datacenters. They’re coming to the table where strategic business decisions are made and being asked, “How are you going to contribute to our growth and transformation?” The CIOs we talk to at Rimini Street are asking themselves whether growth is better served by following the ERP vendor’s forced upgrade, low ROI path, or by considering other options. They’ve been burned by the constant rush to stay on the latest release. The new imperative for 2017 is digital transformation in areas like analytics that improve the customer experience, and running smarter in order to compete. These initiatives represent real opportunities. Upgrading decades-old software is just a burden. And the promise of future new platforms from Oracle and SAP may not be realized until many years in the future, if ever. CIOs can’t afford to wait that long to invest in growth.
As the market for independent support expands around the world, Rimini Street is making significant investments in global growth and innovation to ensure ERP licensees everywhere can benefit. To meet fast-growing demand in Latin America, we’ve grown our staff in the region by 229% over the past year and empowered a strong new leadership team to bring our model of engineered support to companies often dealing with shrinking economies and contracting markets. The launch of our new office in Seoul in August highlights independent support’s growing presence in the Asia-Pacific region, and joins our other busy offices in Australia, China, India, Japan and Singapore. And our dedicated global tax, legal and regulatory practice has now delivered over 120,000 mission-critical updates to Rimini Street clients across nearly 200 countries worldwide since 2005. When software is global in reach, support should be too. This issue of Street Wise brings you a flavor of the news on independent support from around the world.
What do hundreds of Oracle customers have in common? They’ve made the switch to Rimini Street independent support. And hundreds more are strongly considering making the switch. These are companies — spanning the globe, large and small, across virtually all industries — that are making it a priority to rescue IT funds from maintenance oblivion and pour them into innovation. They’re taking control of their upgrade roadmaps, and gaining better support as part of the bargain. In fact, Forbes recently reported that the independent support market has grown into a “larger and more central threat” to Oracle’s financial future, as companies realize the value and viability of independent support.
As independent support continues to gain traction, ERP customers and free market choice are the big winners. The status quo — software vendor-mandated change for the sake of change — is being challenged by forward-looking enterprise software licensees, who today have many more options open to them than simply upgrading existing software on the vendor’s schedule. Rimini Street continues to advocate for a different kind of change: support as if it was designed by the customer, not as if it was designed by the vendor. This year-end issue of Street Wise brings you a flavor of the real changes happening in the industry.
The Wall Street Journal and Gartner Research are part of a growing chorus of voices recognizing the increasing number of enterprise software customers finding value in a switch to independent support. The continued success of our clients enables all of Rimini Street’s growth, and in that context, I want to thank you for playing a part in Rimini Street being named a "Fastest-Growing Private Company" by Inc. magazine for the fifth year in a row. This issue of Street Wise includes recently published reports on independent support and also highlights the customer success that continues to fuel Rimini Street's expansion into new markets and geographies.
In Q2 2015, our clients continued to win awards for the positive change they’ve brought to their organizations through the cost savings and superior support we deliver. Rimini Street also recently surpassed the 1,000-client milestone and unveiled new security, risk avoidance and strategy roadmap services to deliver even more value. Meanwhile, SAP customers are taking note of the results of a major survey revealing that the vast majority are not committed to SAP's "bet-the-company" S/4HANA initiative. More client success and new value-add services - business as usual at Rimini Street!
2015: Rimini Street is powering into its tenth year. Continuing strong worldwide demand for our innovative service program is reflected in the full year 2014 financial results reported in this issue of Street Wise. We are proud of those results, primarily because they are the results of helping clients achieve maximum value from their IT investments, and we share a few of those client stories here as well.
It’s been a year of successes and record-setting growth for Rimini Street. More importantly, it’s also been a year of success for our clients, who are taking advantage of Rimini Street’s award-winning support to refocus budget dollars from ongoing maintenance to mission-critical business initiatives. This issue of Street Wise features inspiring stories of success from two of our clients, American Cancer Society and Valspar Corporation. We also recap the results of an extensive survey in which Oracle customers shared their plans and concerns about their strategic application roadmap for 2015 and beyond.
SAP licensees are leveraging independent support from Rimini Street to drive rapid, cost-effective innovation into their SAP ecosystems. As the transformation from single-vendor product suites to a hybrid IT landscape picks up steam, this edition of Street Wise puts the spotlight on how we're helping our SAP clients create the future.
CIOs want to innovate — to transform the business value of IT — to become a more strategic partner in attaining their companies’ business goals. But too often they can’t because of budget limitations. Good news for today’s CIOs: Rimini Street delivers savings of up to 90 percent on total support costs over a decade, including saving 50 percent on annual support fees. This issue of Street Wise covers how these savings enable CIOs to pursue hybrid IT strategies that can truly transform the value of IT by freeing up funds for the innovation and revenue-generating projects the business is asking for — like cloud, big data, mobile and social initiatives.
IT Caretaker or Business Innovator? With the big ERP vendors lagging in bringing relevant and timely innovations to market, customers are turning to smaller, more innovative providers for leading solutions in cloud, mobile, big data and other areas. The forward-looking CIOs we work with are increasingly rejecting unnecessary upgrades and expensive maintenance fees and redirecting IT budget to invest in solutions the business needs — now — not in ten years when ERP finally gets there. In this issue of Street Wise we highlight Rimini Street clients pursuing innovation with their savings from switching to independent support.
There's a myth floating around that once you switch to independent support, your ERP landscape is "frozen": you can't upgrade your apps or your database, you can't expand your ERP footprint into new regions globally, and you can't license new software from the vendor. The truth is very different: our clients do all of the above and more, with a freedom and flexibility they may never have experienced under vendor support. What's more, our clients actually fund their upgrades and expansions with the savings generated from Rimini Street Support — and win awards for their efforts!
Read this issue of Street Wise to see how clients are moving forward under Rimini Street Support. CIO of United Biscuits was named SuperNova Award Finalist for his innovative use of independent support from Rimini Street; The Valspar Corporation has selected Rimini Street as its third-party support partner to help enhance its global budget in support of the company's top corporate initiatives; and US-based horticulture supplier Color Spot Nurseries is actively expanding its SAP footprint nationwide with help from Rimini Street.
With this edition of Street Wise we bring you a few of the latest exciting developments. The CIO of $6 billion Brazilian aircraft manufacturer Embraer is awarded IT Executive of the Year by InformationWeek for using Rimini Street to shift funds from unproductive SAP maintenance to new projects and global expansion. Rimini Street expands its product coverage to include SAP BusinessObjects and is pulled by customers into global markets. Rimini Street logs another record quarter with 57 new client transactions in Q2, 2013. Enterprise software customers worldwide use third-party support momentum as leverage in negotiations with Oracle and SAP — and win.
In this issue we lead with a breaking development — Oracle and SAP are discounting maintenance. Recent analyst reports detail how savvy customers are negotiating maintenance discounts from Oracle and SAP or switching to value-based third-party support for greater savings, innovative features and more responsive service.
The second issue of Street Wise opens with the announcement of Rimini Street's new product line service offering to include Oracle Hyperion Products. Also highlights the new white paper: "Weathering the Oracle Fusion HCM Storm" written by Frank Reneke, Group VP, Corporate Strategy, Rimini Street. Various other pieces covered including the Argyle Executive Forum interview with Rimini Street CEO Seth Ravin, a 10,000-foot view on Rimini Street and the unique and innovative approach to the enterprise software support model.
Welcome to the first issue of Rimini Street's newsletter, Street Wise. Here we'll bring you news and insightful analysis of industry developments, snapshots of exciting things our clients are doing, and the latest innovative services available from Rimini Street. With our clients, we are reshaping the landscape of enterprise software support. We hope that Street Wise captures some of that excitement and gives you timely information you can use.