Latest news with #RiminiStreet
Yahoo
4 days ago
- Business
- Yahoo
Rimini Street (RMNI) Eyes Post-SAP ECC Opportunity with ServiceNow Partnership
Rimini Street Inc. (NASDAQ:RMNI) is one of the 10 best debt-free IT penny stocks to buy. At the TD Cowen Technology, Media & Telecom Conference held on May 29, Rimini Street laid out its strategic roadmap, with a focus on balancing near-term cost efficiency and long-term growth opportunities, particularly in a shifting enterprise software landscape. A key message was the company's value proposition: offering support services that can cut vendor maintenance costs by around 50%. Rimini is positioning itself to benefit from major upcoming changes in the software market—most notably the 2027 sunset of SAP ECC. Management sees this as a window to capture customers seeking to avoid costly migrations, providing them with support and modernization alternatives. A software engineer in front of a monitor making coding changes for cloud-native solutions. One of the most notable developments is Rimini's new partnership with ServiceNow. This collaboration is aiming to help enterprise clients modernize their systems and adopt AI capabilities without undergoing a full re-platforming. This integration is aimed at leveraging the Now platform alongside clients' existing ERP systems. While the partnership isn't exclusive, it is expected to become a key revenue driver starting in 2026. In parallel, Rimini is winding down its PeopleSoft support business, which currently accounts for about 7% of revenue. Management expects the majority of those clients to transition over the next 2–3 years. In order to support future growth, the company is focusing on building its indirect sales channel. Following the conference, TD Cowen analyst Derrick Wood reiterated his Hold rating and $4 price target. More recently, on June 18, Jeff Van Rhee from Craig-Hallum maintained a Buy rating on Rimini Street, without giving a price target. Rimini Street Inc. (NASDAQ:RMNI) provides end-to-end enterprise software support, products, and services for Oracle, SAP, and other leading enterprise software systems. While we acknowledge the potential of RMNI as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Best Tech Stocks to Buy According to Billionaires. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
18-06-2025
- Business
- Business Upturn
OSG Corporation Extends its Contract with Rimini Street for Support of its Oracle EBS Systems through 2029
Las Vegas, United States: Rimini Street, Inc . (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced that OSG Corporation, a global leader in the precision manufacturing of cutting tools, rolling dies, and machine parts, has extended its contract with Rimini Street to help accelerate its growth and profitability goals. This press release features multimedia. View the full release here: OSG Corporation Extends its Contract with Rimini Street for Support of its Oracle EBS Systems through 2029 Following the Rimini Smart Path™, which starts with delivering deep savings by reducing annual software support fees by up to 50%, then keeping mission-critical systems running optimally into the future and reinvesting the significant savings into strategic initiatives and innovation, OSG achieved 8% reduction in total IT operating costs, freeing up resources to fund its factory automation initiatives. 'The vendor's roadmap would have required us to keep upgrading for features we didn't need,' said Go Harada, OSG's head of IT strategy. 'Signing with Rimini Street restored our ability to take control of our IT roadmap based on our business needs, and as a result, we achieved significant reduction in our fixed costs for Oracle maintenance and operation. These costs accounted for 86% of our total IT budget. With Rimini Street, we are no longer on the upgrade treadmill and were able to drive our total IT costs down to 78%, giving us the funds and flexibility to invest in creating new value.' 'Nearly 90% of today's IT budgets are being used to 'keep the lights on,' leaving only 10% for innovation and growth. That is simply not enough,' said Seth Ravin, CEO of Rimini Street. 'At Rimini Street, our mission is to help organizations like OSG gain back more of those critical resources needed for projects that deliver even greater savings, more efficiency and growth potential for the business.' Choosing Stability, Pragmatism and Innovation Over the Vendor's Roadmap Since its founding in 1938, OSG has built its reputation on delivering high-quality, high-performance cutting tools. After selecting Oracle E-Business Suite (EBS) in 2010, OSG aimed to create a streamlined system to manage sales, order management, inventory, accounting, and production. However, OSG quickly realized that Oracle's roadmap and push to the cloud conflicted with its own long-term IT vision. 'We considered migrating to the cloud, but decided against it,' Harada explained. 'Our current EBS is built on an on-premises architecture and replicating that level of availability in the cloud would be extremely costly.' OSG's decision to stay on-premises isn't hampering innovation. Instead, the company uses a hybrid approach, integrating new digital tools that enhance efficiency while Rimini Street maintains its core stability. 'Our goal is to connect our existing, customized systems to new digital tools in a way that increases factory productivity,' Harada noted. 'Rimini Street makes it possible to deliver new innovations to support our business needs, on our terms and timeline.' Cementing a Long-term Commitment Based on Unwavering Service Quality After years of experiencing a growing list of benefits from working with Rimini Street, OSG recently extended its contract through February 2029 – a clear indication of the value they find in their strategic partnership. Harada shares, 'Over the years, the relationship hasn't changed and that's rare. Rimini Street has treated us with the same level of care and attention as they did when we first signed on, and we value their expertise and guidance.' 'We are deeply humbled by OSG's decision to select Rimini Street as its long-term partner,' said Nobutake Godo, Regional CTO of Rimini Street Japan. 'The enduring commitment from both parties to each other's and the region's success is founded on the shared principal that business needs come first, technology second. We look forward to the years ahead, working together to strengthen and deliver on OSG's vision to dominate the tool manufacturing industry.' Learn more about OSG Corporation's story of innovation in partnership with Rimini Street here . Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and end-to-end outsourcing solutions for SAP, Oracle, VMware and many more applications to support competitive advantage, profitability and growth. About Rimini Street, Inc. Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider, achieving better operational outcomes and realizing billions of US dollars in savings used to fund AI and other innovation investments. To learn more, please visit , and connect with Rimini Street on X , Facebook , Instagram , and LinkedIn . Forward-Looking Statements Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'currently,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'goal,' 'potential,' 'predict,' 'project,' 'seem,' 'seek,' 'should,' 'will,' 'would' or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street's business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; any expenses to be incurred to comply with any injunction ordered by the courts relating to the Rimini II litigation matter and the impact on future period revenue and costs incurred related to these efforts; changes in the business environment in which Rimini Street operates, including the impact of any recessionary macro-economic trends, heightened geopolitical tensions and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to educate the market to attract and retain clients and further penetrate our client base; significant competition in the software support services industry and our intentions with respect to our pricing model; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our expectations regarding new product offerings, partnerships and alliance programs, including but not limited to our partnership with ServiceNow; our ability to grow our revenue and accurately forecast revenue, along with the results of any efforts to manage costs in light of current revenue expectations and expansion of our offerings; the expected impact of reductions in our workforce during the last and current fiscal year and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind-down the offering of services for Oracle PeopleSoft products; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats; any deficiencies associated with generative artificial intelligence (AI) technologies potentially used by us or used by our third-party vendors and service providers; our ability to protect the confidential information of our employees and clients and to comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take; tariff costs (including tariff relief or the ability to mitigate tariffs, in light of new or increased tariffs imposed by the United States government and the potential for retaliatory trade measures by affected countries); a failure by us to establish adequate tax reserves; our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities; our credit facility's ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street's equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading 'Risk Factors' in Rimini Street's Quarterly Report on Form 10-Q filed on May 1, 2025, and as updated from time to time by Rimini Street's future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street's expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street's assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street's assessments as of any date subsequent to the date of this communication. © 2025 Rimini Street, Inc. All rights reserved. 'Rimini Street' is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein. View source version on Disclaimer: The above press release comes to you under an arrangement with Business Wire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
Business Wire
17-06-2025
- Business
- Business Wire
OSG Corporation Extends its Contract with Rimini Street for Support of its Oracle EBS Systems through 2029
LAS VEGAS--(BUSINESS WIRE)-- Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced that OSG Corporation, a global leader in the precision manufacturing of cutting tools, rolling dies, and machine parts, has extended its contract with Rimini Street to help accelerate its growth and profitability goals. "With Rimini Street, we are no longer on the upgrade treadmill and were able to drive our total IT costs down to 78%, giving us the funds and flexibility to invest in creating new value." - Go Harada, Head of IT Strategy, OSG Share Following the Rimini Smart Path™, which starts with delivering deep savings by reducing annual software support fees by up to 50%, then keeping mission-critical systems running optimally into the future and reinvesting the significant savings into strategic initiatives and innovation, OSG achieved 8% reduction in total IT operating costs, freeing up resources to fund its factory automation initiatives. 'The vendor's roadmap would have required us to keep upgrading for features we didn't need,' said Go Harada, OSG's head of IT strategy. 'Signing with Rimini Street restored our ability to take control of our IT roadmap based on our business needs, and as a result, we achieved significant reduction in our fixed costs for Oracle maintenance and operation. These costs accounted for 86% of our total IT budget. With Rimini Street, we are no longer on the upgrade treadmill and were able to drive our total IT costs down to 78%, giving us the funds and flexibility to invest in creating new value.' 'Nearly 90% of today's IT budgets are being used to 'keep the lights on,' leaving only 10% for innovation and growth. That is simply not enough,' said Seth Ravin, CEO of Rimini Street. 'At Rimini Street, our mission is to help organizations like OSG gain back more of those critical resources needed for projects that deliver even greater savings, more efficiency and growth potential for the business.' Choosing Stability, Pragmatism and Innovation Over the Vendor's Roadmap Since its founding in 1938, OSG has built its reputation on delivering high-quality, high-performance cutting tools. After selecting Oracle E-Business Suite (EBS) in 2010, OSG aimed to create a streamlined system to manage sales, order management, inventory, accounting, and production. However, OSG quickly realized that Oracle's roadmap and push to the cloud conflicted with its own long-term IT vision. 'We considered migrating to the cloud, but decided against it,' Harada explained. 'Our current EBS is built on an on-premises architecture and replicating that level of availability in the cloud would be extremely costly.' OSG's decision to stay on-premises isn't hampering innovation. Instead, the company uses a hybrid approach, integrating new digital tools that enhance efficiency while Rimini Street maintains its core stability. 'Our goal is to connect our existing, customized systems to new digital tools in a way that increases factory productivity,' Harada noted. 'Rimini Street makes it possible to deliver new innovations to support our business needs, on our terms and timeline.' Cementing a Long-term Commitment Based on Unwavering Service Quality After years of experiencing a growing list of benefits from working with Rimini Street, OSG recently extended its contract through February 2029 – a clear indication of the value they find in their strategic partnership. Harada shares, 'Over the years, the relationship hasn't changed and that's rare. Rimini Street has treated us with the same level of care and attention as they did when we first signed on, and we value their expertise and guidance.' 'We are deeply humbled by OSG's decision to select Rimini Street as its long-term partner,' said Nobutake Godo, Regional CTO of Rimini Street Japan. 'The enduring commitment from both parties to each other's and the region's success is founded on the shared principal that business needs come first, technology second. We look forward to the years ahead, working together to strengthen and deliver on OSG's vision to dominate the tool manufacturing industry.' Learn more about OSG Corporation's story of innovation in partnership with Rimini Street here. Explore the full Rimini Street portfolio of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and end-to-end outsourcing solutions for SAP, Oracle, VMware and many more applications to support competitive advantage, profitability and growth. About Rimini Street, Inc. Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider, achieving better operational outcomes and realizing billions of US dollars in savings used to fund AI and other innovation investments. To learn more, please visit and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn. Forward-Looking Statements Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'currently,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'goal,' 'potential,' 'predict,' 'project,' 'seem,' 'seek,' 'should,' 'will,' 'would' or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street's business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; any expenses to be incurred to comply with any injunction ordered by the courts relating to the Rimini II litigation matter and the impact on future period revenue and costs incurred related to these efforts; changes in the business environment in which Rimini Street operates, including the impact of any recessionary macro-economic trends, heightened geopolitical tensions and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to educate the market to attract and retain clients and further penetrate our client base; significant competition in the software support services industry and our intentions with respect to our pricing model; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our expectations regarding new product offerings, partnerships and alliance programs, including but not limited to our partnership with ServiceNow; our ability to grow our revenue and accurately forecast revenue, along with the results of any efforts to manage costs in light of current revenue expectations and expansion of our offerings; the expected impact of reductions in our workforce during the last and current fiscal year and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind-down the offering of services for Oracle PeopleSoft products; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats; any deficiencies associated with generative artificial intelligence (AI) technologies potentially used by us or used by our third-party vendors and service providers; our ability to protect the confidential information of our employees and clients and to comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take; tariff costs (including tariff relief or the ability to mitigate tariffs, in light of new or increased tariffs imposed by the United States government and the potential for retaliatory trade measures by affected countries); a failure by us to establish adequate tax reserves; our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities; our credit facility's ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street's equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading 'Risk Factors' in Rimini Street's Quarterly Report on Form 10-Q filed on May 1, 2025, and as updated from time to time by Rimini Street's future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street's expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street's assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street's assessments as of any date subsequent to the date of this communication. © 2025 Rimini Street, Inc. All rights reserved. 'Rimini Street' is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. All other trademarks remain the property of their respective owners, and unless otherwise specified, Rimini Street claims no affiliation, endorsement, or association with any such trademark holder or other companies referenced herein.
National Post
17-06-2025
- Business
- National Post
OSG Corporation Extends its Contract with Rimini Street for Support of its Oracle EBS Systems through 2029
Article content With 8% reduction in total IT operating costs achieved by choosing Rimini Street, Japanese manufacturer commits to a long-term partnership as part of its strategic plans to self-fund productivity-enhancing initiatives for growth Article content LAS VEGAS — Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced that OSG Corporation, a global leader in the precision manufacturing of cutting tools, rolling dies, and machine parts, has extended its contract with Rimini Street to help accelerate its growth and profitability goals. Article content 'With Rimini Street, we are no longer on the upgrade treadmill and were able to drive our total IT costs down to 78%, giving us the funds and flexibility to invest in creating new value.' – Go Harada, Head of IT Strategy, OSG Following the Rimini Smart Path™, which starts with delivering deep savings by reducing annual software support fees by up to 50%, then keeping mission-critical systems running optimally into the future and reinvesting the significant savings into strategic initiatives and innovation, OSG achieved 8% reduction in total IT operating costs, freeing up resources to fund its factory automation initiatives. Article content 'The vendor's roadmap would have required us to keep upgrading for features we didn't need,' said Go Harada, OSG's head of IT strategy. 'Signing with Rimini Street restored our ability to take control of our IT roadmap based on our business needs, and as a result, we achieved significant reduction in our fixed costs for Oracle maintenance and operation. These costs accounted for 86% of our total IT budget. With Rimini Street, we are no longer on the upgrade treadmill and were able to drive our total IT costs down to 78%, giving us the funds and flexibility to invest in creating new value.' Article content 'Nearly 90% of today's IT budgets are being used to 'keep the lights on,' leaving only 10% for innovation and growth. That is simply not enough,' said Seth Ravin, CEO of Rimini Street. 'At Rimini Street, our mission is to help organizations like OSG gain back more of those critical resources needed for projects that deliver even greater savings, more efficiency and growth potential for the business.' Article content Choosing Stability, Pragmatism and Innovation Over the Vendor's Roadmap Article content Since its founding in 1938, OSG has built its reputation on delivering high-quality, high-performance cutting tools. After selecting Oracle E-Business Suite (EBS) in 2010, OSG aimed to create a streamlined system to manage sales, order management, inventory, accounting, and production. However, OSG quickly realized that Oracle's roadmap and push to the cloud conflicted with its own long-term IT vision. 'We considered migrating to the cloud, but decided against it,' Harada explained. 'Our current EBS is built on an on-premises architecture and replicating that level of availability in the cloud would be extremely costly.' Article content OSG's decision to stay on-premises isn't hampering innovation. Instead, the company uses a hybrid approach, integrating new digital tools that enhance efficiency while Rimini Street maintains its core stability. Article content 'Our goal is to connect our existing, customized systems to new digital tools in a way that increases factory productivity,' Harada noted. 'Rimini Street makes it possible to deliver new innovations to support our business needs, on our terms and timeline.' Article content Cementing a Long-term Commitment Based on Unwavering Service Quality Article content After years of experiencing a growing list of benefits from working with Rimini Street, OSG recently extended its contract through February 2029 – a clear indication of the value they find in their strategic partnership. Harada shares, 'Over the years, the relationship hasn't changed and that's rare. Rimini Street has treated us with the same level of care and attention as they did when we first signed on, and we value their expertise and guidance.' Article content 'We are deeply humbled by OSG's decision to select Rimini Street as its long-term partner,' said Nobutake Godo, Regional CTO of Rimini Street Japan. 'The enduring commitment from both parties to each other's and the region's success is founded on the shared principal that business needs come first, technology second. We look forward to the years ahead, working together to strengthen and deliver on OSG's vision to dominate the tool manufacturing industry.' Article content Explore the full Rimini Street portfolio Article content of ultra-responsive, trusted and proven support, managed services, security, integration, observability, professional services and end-to-end outsourcing solutions for SAP, Oracle, VMware and many more applications to support competitive advantage, profitability and growth. Article content About Rimini Street, Inc. Article content Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider, achieving better operational outcomes and realizing billions of US dollars in savings used to fund AI and other innovation investments. Article content To learn more, please visit and connect with Rimini Street on X, Facebook, Instagram, and LinkedIn. Article content Forward-Looking Statements Article content Certain statements included in this communication are not historical facts but are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'currently,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'goal,' 'potential,' 'predict,' 'project,' 'seem,' 'seek,' 'should,' 'will,' 'would' or other similar words, phrases or expressions. These forward-looking statements include, but are not limited to, statements regarding our expectations of future events, future opportunities, global expansion and other growth initiatives and our investments in such initiatives. These statements are based on various assumptions and on the current expectations of management and are not predictions of actual performance, nor are these statements of historical facts. These statements are subject to a number of risks and uncertainties regarding Rimini Street's business, and actual results may differ materially. These risks and uncertainties include, but are not limited to, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; any expenses to be incurred to comply with any injunction ordered by the courts relating to the Rimini II litigation matter and the impact on future period revenue and costs incurred related to these efforts; changes in the business environment in which Rimini Street operates, including the impact of any recessionary macro-economic trends, heightened geopolitical tensions and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to educate the market to attract and retain clients and further penetrate our client base; significant competition in the software support services industry and our intentions with respect to our pricing model; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our expectations regarding new product offerings, partnerships and alliance programs, including but not limited to our partnership with ServiceNow; our ability to grow our revenue and accurately forecast revenue, along with the results of any efforts to manage costs in light of current revenue expectations and expansion of our offerings; the expected impact of reductions in our workforce during the last and current fiscal year and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind-down the offering of services for Oracle PeopleSoft products; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise equity or debt financing on favorable terms and our ability to generate cash flows from operations to help fund increased investment in our growth initiatives; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats; any deficiencies associated with generative artificial intelligence (AI) technologies potentially used by us or used by our third-party vendors and service providers; our ability to protect the confidential information of our employees and clients and to comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take; tariff costs (including tariff relief or the ability to mitigate tariffs, in light of new or increased tariffs imposed by the United States government and the potential for retaliatory trade measures by affected countries); a failure by us to establish adequate tax reserves; our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities; our credit facility's ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street's equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading 'Risk Factors' in Rimini Street's Quarterly Report on Form 10-Q filed on May 1, 2025, and as updated from time to time by Rimini Street's future Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and other filings by Rimini Street with the Securities and Exchange Commission. In addition, forward-looking statements provide Rimini Street's expectations, plans or forecasts of future events and views as of the date of this communication. Rimini Street anticipates that subsequent events and developments will cause Rimini Street's assessments to change. However, while Rimini Street may elect to update these forward-looking statements at some point in the future, Rimini Street specifically disclaims any obligation to do so, except as required by law. These forward-looking statements should not be relied upon as representing Rimini Street's assessments as of any date subsequent to the date of this communication. Article content © 2025 Rimini Street, Inc. All rights reserved. 'Rimini Street' is a registered trademark of Rimini Street, Inc. in the United States and other countries, and Rimini Street, the Rimini Street logo, and combinations thereof, and other marks marked by TM are trademarks of Rimini Street, Inc. 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Techday NZ
12-06-2025
- Business
- Techday NZ
Exclusive: CIOs push back on SAP upgrade deadline amid cost fears
Leaders in IT are under growing pressure to upgrade their core enterprise systems, but many are digging in their heels. With less than two years until SAP ends mainstream support for its traditional ERP platform, many businesses are still resisting the move to S/4HANA, citing cost, risk, and lack of a compelling business case. "Two-thirds of SAP customers are still running ECC," explained Luiz Mariotto, who leads the global solution engineering team at Rimini Street. "That's according to Gartner. After ten years, SAP still hasn't convinced the majority of its customer base to move," he said during a recent interview. Mariotto, based in Miami and a 25-year veteran of the SAP ecosystem, recently completed a whirlwind tour of Australia and New Zealand, meeting customers and prospects across Perth, Melbourne, Sydney and Auckland. He said while the region shares global concerns, some industries are "more aggressively focused on cost-cutting." "IT leaders are under pressure to reduce cost, optimise their operations, and at the same time, find ways to innovate," he said. "But how do you fund innovation if you've got to reduce both capex and opex, and still run your mission-critical ERP?" SAP announced in 2020 that it would end mainstream support for ECC by 2027. For many enterprises, the vendor's push to move customers to S/4HANA in the cloud feels less like a choice and more like a mandate. But Mariotto says the business case just isn't there for many. "Some CIOs go to the board and say, 'There is a risk if we don't get SAP's support,' but the board is pushing back. They're asking: 'Do we really need to spend hundreds of millions and three years of effort just to change software that already works?'" he said. Mariotto cited examples of global clients who have spent years and millions tailoring their ECC systems to complex processes like finance, logistics, or manufacturing. "Now SAP is saying, 'Sorry, you have to upgrade,'" he said. "But IT leaders are asking themselves: should my roadmap be driven by a vendor's timeline, or by business priorities?" Some clients who have started their S/4HANA projects are already pausing due to economic or geopolitical changes, such as trade wars or shifts in global supply chains. "The world is changing. The risks are shifting. And in that scenario, software upgrades drop in priority," he said. According to Mariotto, customers are increasingly exploring third-party support options as a way to defer expensive upgrades. Rimini Street, which provides independent support for enterprise software, has built what it calls the "Rimini Smart Path" — a three-stage approach: support, optimise and innovate. "First, we take over support of the ERP and deliver savings of 50 to 90 percent," he said. "Then we help clients optimise their landscape - no more forced upgrades. Finally, they can reinvest those savings into innovation." That innovation doesn't need to come from SAP either. Mariotto said many customers are turning to vendors like ServiceNow, Microsoft or AWS for AI, automation, and analytics. "Who said your AI must come from SAP?" he asked. "Clients can innovate now, without waiting years for a complex ERP migration." In a timely development, Rimini Street has also announced it will now offer full support for all SAP ECC 6.0 and S/4HANA releases through 2040 - without requiring customers to migrate to S/4HANA on RISE. This move is significant for businesses weighing whether to accept SAP's cloud roadmap or chart their own course. The extension means organisations can maintain their current SAP systems, stay in full tax and legal compliance, and avoid the significant costs of vendor-mandated upgrades. "This gives customers a real choice," Mariotto said. "They can buy time, stay supported, and focus their budget on strategic innovation rather than software replatforming." SAP has tried to soften its stance, announcing earlier this year a programme allowing customers to delay their migration if they commit to moving to S/4HANA Cloud by 2030 or 2033. But Mariotto called it "a ticket with strings attached" and said many customers remain unconvinced. "The vendor says you can delay, but only if you commit to a cloud subscription now. Clients say, 'Wait a minute - I don't even know what I'll be doing in two years.'" The complexity of moving to S/4HANA is also a deterrent. For large organisations, the change is not simply an upgrade - it involves changing data models, processes, licences, and infrastructure. "Even for a simple ECC to S/4HANA migration, you have to convert your general ledger, adapt your customisations, and migrate data into HANA's new structure," he said. "That's not a patch. That's a transformation." Mariotto added that some clients mistakenly believe third-party support limits future flexibility. "One of the biggest misconceptions is that you can't move forward without SAP support. But we can handle security, custom code, integrations - everything. And if clients eventually decide to go to S/4HANA, we can help prepare them." In fact, he said, some customers who delayed upgrading with Rimini Street's support have later chosen to migrate on their own terms. "We have clients who stayed with us five or six years, and then said, 'Now I have a business case.' In some cases, we even supported their legacy ERP during the transition," he said. In the era of hybrid IT, many enterprises are already managing a mix of legacy and cloud applications. Mariotto said this "composable ERP" approach - mixing a stable core with best-of-breed cloud tools - is now the norm, not a Frankenstein monster. "The future of ERP won't be a big box. It'll be intelligent agents, automation layers, and flexible platforms," he said. "Vendors like ServiceNow and Microsoft see that. They're building tools that integrate everything - not just one vendor's stack." With CIOs expected to do more with less, Mariotto said the days of vendor-driven roadmaps are numbered. "Clients are telling SAP: If you're not flexible, I'll find someone else to support me - and someone else to help me innovate," he said.
