iMarketKorea Switches to Rimini Street Support for its SAP Application
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that iMarketKorea, the country’s leading B2B e-commerce company, has switched from SAP to Rimini Street support for their SAP ECC system. By switching to Rimini Street, iMarketKorea was able to reduce its annual support fees by 50 percent and are now able to run their current stable ERP system for a minimum of 15 years from the time they moved to Rimini Street, without being forced to upgrade by SAP’s published 2025 end of mainstream maintenance window for ECC 6. Because of the premium level of ERP support the company now receives, iMarketKorea’s IT staff have been relieved of the day to day back office system maintenance, which is now entirely handled by Rimini Street, and are able to focus on and support more strategic projects within their company.
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iMarketKorea Switches to Rimini Street Support for its SAP Application (Graphic: Business Wire)
Eliminating Dependence on the Software Vendor to Drive Their Own IT Roadmap
iMarketKorea implemented its SAP system in 2012, and today supplies electronic products to thousands of corporate clients nationwide, handling tens of thousands of orders in real time. The company now operates an e-marketplace, an e-commerce site, and a warehouse management system.
iMarketKorea was happy with their stable ECC 6.0 platform and had no desire to upgrade to S/4HANA. In addition, the company did not want to continue to bear the high maintenance support costs in return for little value to their ECC software. iMarketKorea researched third-party enterprise support to decrease their dependence on SAP and reduce their expensive support costs, and selected Rimini Street as their third-party software support partner due to the Company’s established history and experience in providing its reliable, ultra-response support services to thousands of customers worldwide. Instead of relying on SAP’s product development roadmap which seems focused on moving their customers to S/4HANA and not on current ECC 6.0 development – a strategy designed to lock customers in to the vendor’s path – iMarketKorea now has complete control of their IT roadmap. By switching to Rimini Street, the company has eliminated any stress or risk associated with being forced to upgrade to S/4HANA by the vendors published 2025 end of mainstream maintenance date for ECC 6. The company has also been able to fully optimize their SAP platform under Rimini Street’s support, which in turn has enabled its IT teams to focus instead on establishing and operating their own business-driven IT roadmap tailored to address innovation priorities for the business.
“CIOs and IT leaders in Korea are tasked with supporting their organization’s growth strategies, improving efficiency and developing and implementing digital transformation strategies, while at the same time reducing their overall IT costs, and at iMarketKorea it is no different,” said Jo Young-wook, team manager at iMarketKorea. “Our decision to move to Rimini Street has not only allowed us to substantially reduce our annual maintenance costs – which ranked high in our overall IT spending – but we have also been provided a path forward for reinvesting these savings of time, money and resources into our digital transformation planning and implementation.”
As with all Rimini Street clients, iMarketKorea is assigned a senior-level Primary Support Engineer (PSE), who provides rapid response to issues and service tickets, and a quicker resolution on problems than they experienced with the vendor. Rimini Street PSE’s have an average of 15 years’ of experience in the software they support, and are backed by a team of technical engineers 24/7/365. Rimini Street also provides all clients with its industry-leading Service Level Agreement (SLA) that ensures a 15-minute response time for critical issues, and 30-minute response time for P2 issues.
“In a market environment where competition is fierce, iMarketKorea has been able to accelerate its IT infrastructure migration to the cloud, allowing us to break away from the competition; at the same time, due to Rimini Street’s support services, we have also been able to better optimize our internal IT resources and completely transform our IT department,” continued Jo Young-wook.
“CIOs face the challenge of reducing overall IT costs while simultaneously investing their budgets in innovative IT projects for the growth of the organization,” said Hyung-wook “Kevin” Kim, Korea country manager, Rimini Street. “iMarketKorea has been able to secure both the time and the finances they needed to pursue IT innovation projects. At the same time, as with all of our clients, iMarketKorea will be able to receive our ultra-responsive, award-winning support for their mission-critical system for at least 15 years from the date they moved to Rimini Street.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner. The Company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,850 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter and find Rimini Street on Facebook and LinkedIn. (C-RMNI)
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 “may,” “should,” “would,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “seem,” “seek,” “continue,” “future,” “will,” “expect,” “outlook” 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, changes in the business environment in which Rimini Street operates, including inflation and interest rates, and general financial, economic, regulatory and political conditions affecting the industry in which Rimini Street operates; adverse developments in pending litigation or in the government inquiry or any new litigation; the final amount and timing of any refunds from Oracle related to our litigation; our need and ability to raise additional 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; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the terms and impact of our outstanding 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to products and services we expect to introduce in the near future; the loss of one or more members of Rimini Street’s management team; uncertainty as to the long-term value of Rimini Street’s equity securities; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 9, 2019, 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.
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