Supreme Electronics Switches to Rimini Street Support for its Oracle EBS and Database Software
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 Supreme Electronics, one of Taiwan’s largest distributors of electronic components, has switched to Rimini Street Support for the company’s Oracle E-Business Suite applications and Oracle Database software. By switching to Rimini Street, Supreme Electronics was able to immediately reduce its annual support costs by 50% and now receives an ultra-responsive premium level of support that they were not getting previously with the vendor. The company had been evaluating upgrades of their Oracle software but did not see enough new tangible business value to justify the added cost and disruption to the business. Under Rimini Street third-party support, the company now has the freedom to run their current Oracle software releases for at least 15 years with no required upgrades or migrations.
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Supreme Electronics Switches to Rimini Street Support for its Oracle EBS and Database Software (Graphic: Business Wire)
Due Diligence Confirms Rimini Street’s Award-Winning Support Model
Founded in 1987, Supreme Electronics is Taiwan’s third-largest electronic components distribution company with growing operations in China and Southeast Asia as well. The company relies on its robust Oracle applications and database software to manage its component sales and to support its team in developing sales opportunities in a highly competitive market. Supreme Electronics sought out third-party support after looking for ways to reduce the high costs the company was paying for Oracle maintenance and support, and for more responsive, higher quality support than they were receiving from the vendor. Supreme Electronics went through a simulation exercise with Rimini Street, raising case tickets to put the Company’s ultra-responsive support model into practice and to see how quickly and accurately the cases would be resolved. Ultimately, after several successful tests, as well as meeting the strict compliance standards of the Financial Supervisory Commission (FSC) and the International Accounting Standards (IFRS) in Taiwan, Rimini Street gained the company’s trust and Supreme Electronics switched from Oracle to Rimini Street Support.
“One of the conditions for the successful adoption of third-party support services was to ensure that our IT department has experienced, professional Oracle system engineers working with them to support our enterprise system daily,” said Jason Lue, director of information and human resources at Supreme Electronics. “The support services provided by Rimini Street are extremely high quality and more responsive than what we received from Oracle, plus they support our customizations and provide performance support which was not available from the vendor.”
Supreme Electronics is currently running EBS 22.214.171.124, which no longer receives new updates, fixes, CPUs or Tax, Legal and Regulatory Updates from the vendor – today all Oracle E-Business Suite releases before 12.1 are no longer fully supported by Oracle. The company also runs Oracle Database 11g releases, which at the end of 2020, will no longer be fully supported by the vendor. With Rimini Street Support, Supreme Electronics receives support for their current Oracle systems for a minimum of 15 years from the time that they switched from the vendor to Rimini Street.
Regionally based Ultra-Responsive Support
As with all Rimini Street clients, Supreme Electronics has an assigned Primary Support Engineer (PSE) who has an average of 15 years’ experience in Oracle software and is backed by a team of functional and technical engineers, available 24/7/365. Clients also receive the Company’s industry-leading service level agreements (SLAs) with a guaranteed response time of 15 minutes for critical (P1) issues.
“Rimini Street pays attention to detail and provides senior engineers with relevant industry knowledge to provide our ERP support, including Chinese-speaking engineers. This kind of dedicated service and regional expertise helped solve issues that the vendor could not,” Lue added.
We are honored to be the support provider for Supreme Electronics after completing rigorous simulation tests and meeting compliance and accounting standards for the company’s Oracle EBS and Database software,” said Andrew Seow, regional general manager, South East Asia and Greater China, Rimini Street. “Many companies in Taiwan have heavily-customized ERP systems no longer fully supported by the vendor. Additionally there are strict government requirements to adhere to for accounting and financial reporting. Rimini Street’s flexible and highly tailored support services ensure a company’s mission-critical applications and software remain globally compliant, and enable companies to maximize its return-on-investment while avoiding unnecessary upgrades and migrations.”
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 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. Nearly 2,100 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries rely 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. (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: the unknown duration and economic, operational and financial impacts on our business of the COVID-19 pandemic and the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt our business or that of our current and prospective clients; 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; 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 customer adoption of our recently introduced products and services, including our Application Management Services (AMS), Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products, in addition to other 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 7, 2020, 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.
© 2020 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.
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