Rimini Street Doubles New Client Sales in EMEA
Company Announces Significant EMEA Growth and Expansion in Fiscal 2012, Additional Investment in EMEA Sales and Support Operations
LAS VEGAS, March 5, 2013 - Rimini Street, Inc., the leading third-party maintenance and support provider for enterprise software, including SAP AG (NYSE:SAP) software and Oracle Corporation's (NASDAQ: ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database and Hyperion software, today announced that in fiscal year 2012 it more than doubled new sales in EMEA, with 117 percent year-over-year growth in new client invoicing; achieved more than $42 million in new EMEA sales bookings, a 175-percent year-over-year increase; and nearly doubled the total number of clients in EMEA. The Company also announced its expansion and additional investment in EMEA to meet continued growing demand for its SAP and Oracle support services.
Strong and Accelerating Demand for Rimini Street Support in EMEA
Rimini Street has experienced strong and accelerating demand in EMEA for the Company's innovative third-party support program. Building upon the Company's proven success in the region, Rimini Street has continued to grow its investment in EMEA support operations each year. In fiscal year 2012, Rimini Street achieved 94 percent growth in total number of clients in EMEA, and the Company continues to sign and successfully support many large clients in EMEA, including clients paying seven-figure annual fees. Today, more than 65 organizations with EMEA operations, including many Fortune 500 and Global 100 organizations, have switched to Rimini Street Support as their preferred annual support program.
Rimini Street Recognized as Global Leader in Third-Party Support Services
In a recent report1 published by Forrester Research, EMEA-based senior analyst Mark Bartrick reported, "While there are other companies offering similar services, Rimini Street is by far the largest player in terms of number of clients and revenues, and it has matured into a serious alternative to the software support and maintenance offerings of the big software companies."
Rimini Street leads the market in delivering proven client value through its concierge-level support program that enables savings of 50 percent in annual support fees, and also drives significant reductions in related support and maintenance costs resulting in savings of up to 90 percent in total support costs. Rimini Street enables cost reductions beyond the 50 percent savings in annual support fees by allowing clients to run their current software releases without any required upgrades for at least 10 years and providing support for customizations, interoperability, performance and interfaces at no additional fee. Additionally, Rimini Street provides clients with a 24X7X365 premium-level service model with an assigned Primary Support Engineer (PSE) that eliminates the need for extra maintenance resources and headcount associated with inefficient, burdensome vendor support processes and policies.
Rimini Street has Proven Global Tax, Legal and Regulatory Updates
With a delivery track record of more than 45,000 tax, legal and regulatory updates delivered to clients over the past eight years, and responsibility today for tax, legal and regulatory support across companies with operations in more than 70 countries, Rimini Street is the leading, proven and trusted global provider of tax, legal and regulatory updates. For example, in the UK, Rimini Street delivers vital payroll tax and regulatory updates to clients that ensure companies remain in compliance with the latest legislations required by Her Majesty's Revenue and Customs (HMRC). Recently, the Company rolled out significant Real Time Information (RTI) capabilities required by HMRC in 2013. Additionally, for clients with operations in Portugal, Rimini Street provided support for significant tax and regulatory changes related to new requirements for the Certification of Invoices and Fiscal Documents established by the Portuguese Customs and Tax Authority (AT).
Rimini Street continues to expand its tax, legal and regulatory coverage and is capable of providing support in nearly 200 countries. The Company's global tax, legal and regulatory research, analysis and update scoping team is made up of veteran tax specialists, attorneys and international tax, legal and regulatory specialists who use the Company's patent-pending technology and numerous government and private-sector sources to monitor, collect, verify and analyze government activity and changes in thousands of regulatory jurisdictions around the world.
Rimini Street Expands and Increases its Investment in EMEA
In addition to significant investments in its tax, legal and regulatory offerings, Rimini Street has also invested extensively in its EMEA support capabilities in conjunction with new client growth in the region. In 2012, the Company significantly grew its EMEA-based team of support engineers to meet growing market demand for Rimini Street Support. Each Rimini Street primary support engineer (PSE) brings an average of 10+ years of experience in the support, development, implementation and management of ERP applications. The Company will continue growing its team of EMEA-based support engineers and will also be adding additional EMEA-based sales personnel to meet accelerating regional demand for Rimini Street services. Each client is assigned a named, regional PSE focused exclusively on client success to ensure delivery of Rimini Street's unmatched ultra-responsive support, with an average 3.5 minute response-time anywhere in the world.
"In search of the industry's most value-driven enterprise software support option, more and more organizations in EMEA and across the world continue to choose Rimini Street as their preferred annual support vendor over SAP and Oracle," said Seth Ravin, Rimini Street CEO. "We remain committed to growing our support capabilities across EMEA and other regions in order to meet the strong market demand for premium-level support services with up to 90 percent in total support cost savings compared to the vendor's support offering."
1 "Rimini Street Challenges Big Software Maintenance Fees," Forrester Research, Inc., July 20, 2012
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 up to 90 percent on total support costs over a decade, including saving 50 percent on annual support fees. Clients can remain on their current software release without any required upgrades or migrations for at least 10 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 www.riministreet.com or call within the USA 888-870-9692 or internationally +1-702-839-9671.
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