LAS VEGAS - Tuesday, 08. October 2024 AETOSWire
New Zealand market leader in renewable energy achieves cost efficiency and operational stability with Rimini Support™ and Rimini Watch™ for SAP, reinvests the savings into AI/ML innovations for growth
(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 Mercury NZ has selected Rimini Support™ and Rimini Watch™ for SAP, as part of its strategic move to achieve cost efficiencies and retain stability of its core IT systems after its acquisition of the Trustpower retail business.
Having achieved significant savings, the renewable energy company is funding investment and continued modernization of its platforms to meet growing consumer demands.
“Mercury is constantly looking to innovate, to make sure we are offering products and services that our customers value in modernizing the way we operate,” said Tim Aynsley, Mercury NZ’s previous head of technology. “During this transition, Rimini Street has given us the stability to be future-ready and focus on innovation.”
Rimini Street Makes Mercury NZ’s Transition Away from SAP a Smooth, Stable Journey
Mercury NZ has been an SAP shop for nearly 20 years, leveraging its customized system for reporting, CRM, utility billing and more. Today, they run SAP ECC6 on HANA database, and SAP Industry Solutions Utilities (IS-U).
Prior to the acquisition of Trustpower, a decision that helped cement its status as a leading retailer of both energy and telecommunications utility products in New Zealand, Mercury NZ contemplated a migration to S/4HANA. However, Mercury did not progress with this due to the Trustpower acquisition and technology decisions made as a result.
“With Rimini Street, we were provided with a viable alternative to support our SAP systems, which has helped us to make savings in the way we operate,” said Aynsley.
“Many SAP Utilities customers have concluded that the investment needed to move to S/4HANA is better used to fund innovation around strategic initiatives,” said Coy Wright, vice president of Energy, Utilities & Mining at Rimini Street. “We’re seeing the utilities industry as a whole move toward composable ERP architectures using best-of-breed applications surrounding the SAP core and we’re proud to support our clients on their journey to deliver successful business outcomes.”
Mercury NZ Gains Peace of Mind and Business Momentum by Partnering with Rimini Street
Mercury NZ credits Rimini Street with providing peace of mind and assurance knowing its business continuity is in expert hands. With Rimini Support™ for SAP, the organization sees the impact of Rimini Street’s high-touch, highly responsive team of engineers who not only deliver outstanding support, but also collaborate with Mercury NZ’s other vendors to provide stability for their mission-critical system.
“We replaced SAP’s Solution Manager (SolMan) with Rimini Watch™. This allows us to monitor business processes, diagnose performance, and mitigate issues proactively,” said Anita Grenside, practice lead at Mercury NZ. “Our customers expect our services to be available when they need them, and so that's just logical from a competitive point of view that we can provide stable, resilient services.”
Aynsley adds, “Rimini Street is a capable partner that, in our experience, exceeds in delivering what they promise. They play a key role in keeping the services that we provide to our consumers as cost effective and innovative as possible.”
Learn more about Mercury NZ’s story of operational stability and transformation 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 Rimini ONE™ end-to-end outsourcing solutions for SAP, Oracle and 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, 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 safe harbor 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. 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; 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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Contacts
Janet Ravin
VP, Global Communications
Rimini Street, Inc.
+1 702 285-3532
pr@riministreet.com
