LAS VEGAS--(BUSINESS WIRE)--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 International Container Terminal Services, Inc. (ICTSI), has switched to Rimini Street’s award-winning software support services for SAP. Rimini Street will support business-critical functions such as financials, treasury, asset tracking, equipment maintenance and repair that powers the entire sea freight business for the Philippines and other ICTSI-operated terminals.
By leveraging Rimini Street services, ICTSI will achieve 50% savings in annual support fees while enjoying an extraordinary client experience with improved service quality. The savings in both IT budget and resources will allow ICTSI to focus its resources and invest in transforming its SG&A processes, accelerating growth, and improving innovation, productivity and efficiency moving forward.
“Our existing ECC 6 platform has become a constraint, rather than an enabler for our business, with more and more initiatives that would drive efficiency and digital transformation either blocked, expensive, or requiring third-party add-on solutions. It is a legacy system, and, as such, it is vital that we minimize investment in it and divert that investment into preparing for a replacement that would again enable and transform our business,” said Brian Hibbert chief information officer, ICTSI. “Working with Rimini Street not only delivers that spend reduction, but with their exceptional support, we can turn our internal focus on preparing for that change and going to market for our future ERP needs.”
Established in 1987, ICTSI is a leader in the port operations sector, employing more than 7,000 people and managing 35 terminals in 20 countries. It is the Philippines’ largest multinational company and the eighth largest container terminal operator in the world, with established operations in both developed and emerging market economies. As the company explores digital transformation opportunities, ICTSI looks to the next evolution of its IT infrastructure.
"Process is always king. Preparing for a new ERP platform requires first reviewing our internal processes and data assets and ensuring that before we implement any new system, our processes and data requirements are driving that implementation,” added Hibbert. “Partnering with Rimini Street helps us ensure that our technology meets the needs and goals of our business today. Allowing us to focus on addressing emerging market requirements and being well-positioned to capitalize on future opportunities."
Personalized and Responsive Support Services
To deliver the experience and efficiencies clients have come to expect, Rimini Street leverages patented AI technology and a primary support engineer to provide ultra-responsive, personalized, premium-level services from highly experienced senior engineers. The Company continues to expand its portfolio with services that help clients optimize, evolve and transform their IT infrastructure. Rimini Street’s expanded portfolio of services and client success has put the Company on a stated target of $1 Billion in annual revenue by 2026.
“With Rimini Street's client-centric and expert-led support services, businesses like ICTSI are truly free to focus on aligning their IT roadmap, innovation plans, and investments with their strategic business objectives,” said Andrew Seow, regional general manager ASEAN and Greater China, Rimini Street. “Rimini Street’s enterprise software services are a game-changer for companies wanting to stabilize and maintain their IT operations and achieve cost efficiency while building resilience as they grow amid shifting business circumstances globally. As ICTSI continues its transformation journey, Rimini Street will continue to provide trusted, reliable services that deliver significant business value and offer peace of mind to ICTSI, allowing them to grow their business and optimize the value they deliver to their own stakeholders.”
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, 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 offers premium, ultra-responsive and integrated application management and support services that enable enterprise software licensees to save significant costs, free up resources for innovation and achieve better business outcomes. To date, more than 4,400 Fortune 500, Fortune Global 100, midmarket, public sector, and other organizations from a broad range of industries have relied on Rimini Street as their trusted application enterprise software products and services provider. To learn more, please visit http://www.riministreet.com, follow @riministreet on Twitter, and find Rimini Street on Facebook and LinkedIn. (IR-RMNI)
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 “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, the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the discontinuance of LIBOR and transition to any other interest rate benchmarks; the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 any new 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, including under our credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate reserves for tax events; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our Application Management Services (AMS) offerings, in addition to other products and services we expect to introduce in the future; the loss of one or more members of Rimini Street’s management team; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; our ability to prevent unauthorized access to our information technology systems, protect the confidential information of our employees and clients and comply with privacy and data protection regulations; and those discussed under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 2, 2022, 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.
© 2022 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.
Vikki Hansen
Rimini Street, Inc.
+1 (708) 556-3185
vhansen@riministreet.com
Global Port Operator ICTSI Entrusts Rimini Street to Deliver Reliability, Stability, and Efficiency to its Global ERP System and Enable Business Growth (Photo: Business Wire)
