LAS VEGAS -- (BUSINESS WIRE) --
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software, and an AWS partner, today announced that Standard Foods Corporation has selected Rimini Support™ for SAP, enabling it to achieve significant cost savings, improve quality of support for its mission-critical SAP systems, and reallocate IT resources towards projects that will drive stronger profitability and enable growth for the leading Taiwanese food manufacturer and distributor.
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Jerry Lee, director of IT at Standard Foods shared, “Rimini Street immediately halved our annual support costs and helped our SAP systems run better than ever before. Because of the efficiencies gained, my IT team can focus on using data to improve sales estimations and benefit our partners and distributors. It will be a game-changer for Standard Foods, made possible by Rimini Street.”
Better Software Support Allows for More Focus on Data Initiatives
On a search for better software support, Standard Foods received strong recommendations by multiple IT partners and peers to explore Rimini Street.
“What impressed me the most about Rimini Street was that they took the time to get to know our systems in detail, and understand our vision,” said Lee. “What sometimes took weeks to get resolved with SAP, compared to the timeliness of the support that Standard Foods gets from Rimini Street is really something else,” according to Lee. He added, “The combination of fast response and expert solutions has allowed us to increase our investment in AI and machine learning but with less staff needed to keep those systems running at full speed.”
“With Rimini Street, we only need three people to support the five SAP modules we use, and we maintain full functionality,” Lee shared. This frees up Standard Foods’ IT team to work on strategic projects such as shifting from SAP’s BI reports to Power BI and cloud-based machine learning for data analysis. By integrating AI with real-time data, Standard Foods has enhanced decision-making across its supply chain.
“Predicting how much to order is an ongoing challenge for manufacturers, and a misstep in calculations in the supply chain can impact profitability,” Lee noted. “By running various models with real-time data and AI tools, we can both refine order recommendations and improve procurement processes.”
Flexibility and Control of its IT Roadmap Alleviates S/4HANA Upgrade Pressure
As an SAP ECC shop, Standard Foods is one of the many SAP customers who will no longer receive vendor support for its ECC platform past 2027. But they are unbothered by the timeline as they are in full control of their IT roadmap since partnering with Rimini Street.
“At this moment, moving to S/4HANA is not a priority nor do we see it as a strategic move for our business. The ROI is just not there. Perhaps in the future, we may want to consider it, but for now, our efforts and focus will be on innovation, growth and profitability,” said Lee.
“One of the impactful areas for AI in the supply chain is demand forecasting. According to industry analysts, AI-based forecasting techniques that incorporate real-time and multivariate data sources can reduce forecasting errors by up to 50% compared to traditional time-series based methods,” said Tyler Munger, vice president of analytics at Rimini Street. “Many of our manufacturing clients partner with Rimini Street to direct resources towards investing in AI-fueled improvements that help with their top and bottom-line goals.”
With Rimini Street, Lee has peace of mind knowing that his team can access SAP expertise 24/7/365 with under 2-minute average response times as they continue to evolve their IT roadmap. This strategic partnership allows Standard Foods to continue its mission of promoting healthy living by using data to optimize operations.
Learn more about the business goals Standard Foods achieved by partnering 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 Rimini ONE™ end-to-end outsourcing solutions for SAP and Oracle 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, products and services, the leading third-party support provider for Oracle and SAP software and an AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,600 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 enterprise software solutions provider. To learn more, please visit riministreet.com, and connect with Rimini Street on X (formerly known as Twitter), Instagram, 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 safeharbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “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. 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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; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any recessionary economic trends 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 attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our ability to grow our revenue, manage our cost of revenue and accurately forecast revenue; the expected impact of recent and anticipated future reductions in our workforce 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, including sales personnel, and retain key 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; 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, protect the confidential information of our employees and clients and 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, or a failure by us to establish adequate tax reserves; the impact of environmental, social and governance (ESG) matters; 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 transition to SOFR or other interest rate benchmarks; 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 July 31, 2024, 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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CONTACT:
Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
Standard Foods Partners with Rimini Street to Fund AI-Powered Predictive Data Analytics Project (Graphic: Rimini Street)
