Companies in the financial services industry are expanding their digital footprint, spending on cloud technology, data center evolution, and the digitalization of client experiences. Rimini Street independent third-party support replaces software vendor support, creating considerable savings to invest in innovation.
Most organizations in the financial services industry carry a sizable burden of IT operating costs, often stemming from maintaining layer upon layer of ERP systems, financial industry software, and customized code. They may also have a range of one-time regulatory fixes, fraud prevention, and cybersecurity applications. Increasing costs to maintain a complex IT landscape means less budget available for capital investment in new technology, driving a vicious cycle of increased operating costs and back office inefficiencies. Rimini Street clients save 50% on annual support fees and up to 90% on total application support costs, freeing up funds to enhance competitive advantage and fuel growth.
Today’s financial services digital agenda extends from customer experience and operational efficiency to big data and analytics. Advances in robotics and AI/ML offer opportunities to gain enhanced customer and market intelligence, to better respond to rapidly changing industry demands. Rimini Street third-party support for financial industry software enables clients to reallocate significant savings to digital transformation.
Rimini Street enterprise software solutions for applications and databases help financial services clients craft a Business-Driven IT roadmap rather than follow a software vendor-dictated roadmap. In doing so, they achieve substantial support savings, regain IT budget control, and have the flexibility to upgrade or migrate to a new platform when there is a clear ROI to do so. Helping clients contain costs and maximize the lifetime value of ERP systems are hallmarks of Rimini Street support.
Get personalized application support for JD Edwards
Experience personalized third-party support for PeopleSoft
Receive ultra-responsive support for Oracle EBS financial industry software
Maintain the current stable and proven SAP implementation
The one-stop shop for support for Oracle Database needs
Optimize support and IT operations to simplify application support processes
Receive a variety of services for maintaining mission-critical SAP systems
Rimini Street unified support solutions deliver tailored, comprehensive services that leverage a global support model to help drive business results. The Rimini Street mission to help clients extract the greatest possible value from their enterprise software has helped save over $5B to date.
Financial services industry organizations cannot afford disruption to mission critical systems. Rimini Street delivers ultra-responsive application and database support including value-added services at no additional cost, such as advisory services and fast Legislature-to-Live™ global tax, legal, and regulatory updates to reduce compliance risk.
Rimini Street unified services feature multiple levels of support, but a single source of accountability. A Primary Support Engineer (PSE) leads the way, backed by a global network of experts skilled in resolving the most complex software issues, including root cause analysis. Response time for critical issues is guaranteed in 10 minutes or less.
Clients of Rimini Street Support Services no longer overspend on vendor support or squander precious IT time on unnecessary updates and upgrades. Instead, IT teams are free to work on more interesting, more impactful growth initiatives that support a Business-Driven Roadmap, while newly available funds can be directed to better meet market needs.
“Rimini Street support allowed us to balance and readjust how expenses were allocated for different countries, and showed us that we had an opportunity to invest in other projects. This was an innovation that benefited the company as a whole — it’s like turning unnecessary spending on keeping the lights on into innovation funding for the entire organization.”Global Financial Consulting Firm IT Director
“As part of our ongoing program to reduce TCO, we wanted to reduce our SAP costs, as we had no short-to-medium-term plans to upgrade to the latest version or indeed to S/4HANA. The savings we’ve achieved with independent support has contributed to improved profitability. Rimini Street has been a game-changer for us.”Sandra Phillips Commercial Manager
The goal of any business is to grow. But growth requires a strategic, concentrated investment in innovation. And, as with any investment, that requires capital.
Users of enterprise applications and databases have seen the amount they spend on yearly maintenance costs rise and the value gained from the original vendor support model fall. For these reasons, a steadily growing number of SAP customers is moving from SAP software support to third-party support. This in-depth ROI analysis of 70 Rimini Street clients can help organizations understand the business case for switching. Nucleus Research, an independent analyst firm, has validated our findings that confirm the significant savings SAP licensees can experience in the following areas: Annual support costs: Break/fix support and tax, legal and regulatory updates Upgrade costs: The cost of forced upgrades just to stay supported when vendor support windows end Customization support costs: The cost of supporting customizations that break, which is not covered as part of the standard vendor support model Self-support costs: The cost of additional resources and headcount required to deal with the extra burden and inefficiency of vendor support, including regression testing and analysis of hundreds of fixes, issue justification and self-service support
Video interview with Ray Wang of Constellation Research on digital transformation strategy, solutions, and the impact of the global pandemic on IT and business.
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