Rimini Street Announces General Availability of Rimini Street Tax Engine
Clients Live and Processing Payroll with Solution that Lowers Cost, Eases Administrative Burden and Enhances Accuracy and Speed of Gross-to-Net Withholding Calculations
ORLANDO, Fla. - SAP SAPPHIRE NOW 2011 Conference, May 16, 2011 - Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including Oracle Corporation's (NASDAQ: ORCL) Siebel, PeopleSoft, JD Edwards, and E-Business Suite software, and SAP AG (NYSE:SAP) software, today announced the general availability of its Rimini Street Tax Engine for SAP Payroll ("Tax Engine for SAP") solution. Tax Engine for SAP performs "gross-to-net" withholding calculations for U.S. payroll taxes. The Company also announced that it had successfully delivered and implemented its Tax Engine for SAP under its Charter Client program and has been processing live payrolls since 2010.
Rimini Street Tax Engine for SAP a Comprehensive Solution
Rimini Street's Tax Engine for SAP is offered as an integrated component of Rimini Street's industry-leading tax, legal and regulatory update service, which provides the updates necessary for organizations to remain in global legal and financial compliance. Rimini Street's Tax Engine for SAP calculates withholding taxes for U.S. federal and FICA (Social Security and Medicare); state withholdings for all 50 states and territories; and thousands of local jurisdictions. Tax data quality is ensured by Rimini Street's patent-pending technology and rigorously documented and certified processes of identification, verification, scoping, coding and quality testing.
Rimini Street Tax Engine for SAP Delivers Better Value than BSI Offering Available via SAP
Priced at half of the comparable service from BSI, Rimini Street clients switching to Tax Engine for SAP benefit from specialized software tools developed by Rimini Street that are designed to streamline the updating of tax tables with data changes and reduce the resources required to make such updates. Clients have reported that the performance enhancements and advanced software engineering built into Rimini Street's Tax Engine for SAP have led to faster payroll operating runs than the BSI systems it replaced. In addition, Rimini Street Tax Engine for SAP clients report improved support responsiveness and accuracy of results because processes are seamless across the various functional areas.
With Tax Engine for SAP, Rimini Street clients can now manage their entire payroll process in-house and avoid the administrative overhead and expense of engaging multiple vendors. Rimini Street offers a one-stop solution that includes:
- Enterprise software support services
- Global tax, legal and regulatory updates
- U.S. gross-to-net payroll calculation processing
Such a comprehensive service offering is only available from Rimini Street.
The Rimini Street Tax Engine for SAP delivers a superior solution over BSI for SAP payroll calculations," said Eric Robinson, director of IT for Color Spot Nurseries. "Internal support has been reduced as Rimini Street provides customized tax, legal and regulatory updates that only pertain to our system."
"Rimini Street Tax Engine for SAP Payroll offers our clients genuine benefits over the complex, more costly BSI offering provided through SAP," said Brian Slepko, senior vice president, global operations, Rimini Street. "Our Tax Engine for SAP clients report savings of at least 50 percent in annual fees, faster processing times and improved quality from our integrated, single provider offering. Tax Engine for SAP is another example of Rimini Street's commitment to developing innovative, next-generation support solutions that deliver a better value to our clients."
About Rimini Street, Inc.
Rimini Street is the leading third-party provider of enterprise software support services. The company is redefining enterprise support services with an innovative, award-winning program that enables Oracle and SAP licensees to save at least 50 percent in annual support fees and save up to 90 percent in total support costs over a decade. Clients can remain on their current software release without any required upgrades or migrations for at least ten years. Hundreds of global, Fortune 500, midmarket, and public sector organizations from virtually all industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com/ or call within the USA (888) 870-9692 or internationally +1 (702) 839-9671.
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