Business Wire

Leading South Korean Furniture Manufacturer Empowered to Focus on IT Modernization Goals After Switching to Rimini Street Support

Share

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 ENEX, a leading furniture manufacturer in South Korea, has switched to Rimini Street Support for its mission-critical SAP system. As a result of switching support providers, ENEX was able to immediately reduce its annual support fees and redirect its internal IT personnel to focus on higher value business initiatives, including plans to update and modernize its IT infrastructure.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211019005188/en/

To view this piece of content from mms.businesswire.com, please give your consent at the top of this page.

Leading South Korean Furniture Manufacturer Empowered to Focus on IT Modernization Goals After Switching to Rimini Street Support (Photo: Business Wire)

Switching to Ultra-Responsive Support and Maintenance Helps Drive Digital Transformation

Founded in 1971, ENEX is a top kitchen and home interior furniture manufacturer in South Korea, with both an online and offline distribution network. ENEX is the first major brand to introduce a modern approach to customized kitchen design.

ENEX switched to Rimini Street based on the Company’s strong reputation for providing ultra-responsive support, including support for all customizations, and its high average client satisfaction rating of 4.9 out of 5.0 (where 5.0 is “excellent”). ENEX also knew that by switching support providers the company would be able to free up resources – time, money and personnel – that could be redirected toward future high-value initiatives. In addition, ENEX is now able to maintain its core SAP applications for a minimum of 15 years from the time they made the switch, no longer requiring it to implement costly and disruptive release updates or upgrades just to stay fully supported by the vendor.

“With the prolonged COVID-19 crisis, the importance of optimizing our IT operations has increased,” said Yeon-soo Kang, department manager, Information Technology Department, ENEX. “Our SAP maintenance fees were taking up the lion’s share of our IT budget, even though an SAP application upgrade was unnecessary. We switched to Rimini Street to help us maximize the investment in our critical software and the company has proved to be a strong partner we can rely on to support our existing internally deployed systems, along with our future planned cloud-based IT infrastructure and modernization projects.”

Highly Personalized Support from Expert Engineers

As with all Rimini Street clients, ENEX was assigned a Primary Support Engineer who has an average of 20 years’ experience working with the client’s enterprise software and backed by a team of functional and technical experts. ENEX also benefits from Rimini Street’s industry-leading service level agreement of 10-minute response times for all critical Priority 1 cases, and 15-minute response times for Priority 2 cases.

“IT leaders in Korea are continuously challenged to deploy key initiatives to help their business transform and grow, but are often in a predicament trying to figure out how to fund these critical business initiatives when so much of their IT budget is locked up in their ERP system,” said Hyungwook “Kevin” Kim, regional general manager, Rimini Street Korea. “By choosing Rimini Street Support, ENEX has been able to free up precious resources, take back the control of their IT roadmap and plan for future IT modernization needs that are more aligned with their businesses’ goals to help achieve competitive advantage and growth.”

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 4,200 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.

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 impact of our credit facility’s ongoing debt service obligations and financial covenants and operational covenants on our business and related interest rate risk, 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 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; including under our new credit facility; our ability to maintain an effective system of internal control over financial reporting, and our ability to remediate identified material weaknesses in our internal controls, including in relation to the accounting treatment of our warrants; 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 August 4, 2021, 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.

© 2021 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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com

About Business Wire

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Nornir secures €30 Million capital commitment from Global Emerging Markets (GEM)8.12.2021 01:09:00 EET | Press release

The Norwegian deep tech company Nornir, today announced a $30 Million investment commitment from GEM Global Yield LLC SCS (“GEM”), the $3.4 Billion, Luxembourg based, private alternative investment group that focuses on emerging markets with offices in Paris, Nassau (Bahamas) and New York. Under the agreement, GEM will provide Nornir with a Share Subscription Facility of up to €30 Million for a 36 month term following the public listing of the Nornir common stock. Nornir will control the timing and maximum amount of each drawdown under the facility and has no minimum subscription obligation. Nornir's unique “Hive Mind” network technology operates in the AI driven Smart City and smart asset management industry; which is one of the fastest growing markets in the world expected to reach $100 trillion in 2021. The industry is morphing into the Internet of Things (IoT) era which opens up new markets and opportunities where digital assets become intelligent and embedded into various addition

Wordley Partnership: New Partner Appointments Bolster Insurance, Commercial Litigation, International Arbitration and Corporate Practice7.12.2021 22:49:00 EET | Press release

International law firm Wordley Partnership has appointed two new partners, Costas Frangeskides and Simon Schindler. The appointments boost Wordley Partnership’s Insurance sector and Commercial groups. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207006028/en/ Costas Frangeskides (Photo: Business Wire) Brief biographies are enclosed below: Costas is based in London and joins from leading international practice Holman Fenwick Willan (HFW) where he had been a partner since 2002 and is highly experienced in insurance and reinsurance disputes, commercial law, and international arbitration. He has a proven track record and has handled many high-profile commercial and insurance disputes. Commenting on the appointments, managing partner Paul Wordley of Wordley Partnership said: "We are delighted to announce Costas and Simon joining our team. This demonstrates our continuing commitment and expertise in the insurance markets, and

New Data Reveals Social Presence and Engagement Key to Streaming Growth7.12.2021 21:42:00 EET | Press release

Roughly 80% of social engagement for streaming platforms comes from Instagram, with TikTok close behind thanks to accounts like Netflix growing by more than a million followers each month in 2021. This is according to the Social Guide for Streaming report from Conviva, the continuous measurement platform for streaming media, which examined social engagement for more than 87 global streaming platforms and 695 streaming TV shows from January 1, 2021 to October 21, 2021. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207005982/en/ Conviva’s State of Streaming: Social Guide for Streaming 2021 Publishers Report (Graphic: Business Wire) “A strong presence on social platforms like Facebook, Twitter and Instagram is critical for streaming publishers as it has been proven social is a key to content discovery,” said Keith Zubchevich, CEO, Conviva. “And, it’s not just about posting volume. The publishers that creatively and regularl

Andersen Global Strengthens European Platform with Addition of Collaborating Firm in Czech Republic7.12.2021 20:15:00 EET | Press release

Andersen Global enters into a Collaboration Agreement with Prague-based law firm rutland & partners, adding breadth to its platform in Europe. Rutland & partners, established in 2010 by Founding Partner Monika Rutland, focuses on corporate, real estate and M&A, providing legal services to businesses, foreign entities and private clients. Recognized by Chambers & Partners and The Legal 500, the firm offers full-service capabilities in litigation, employment, immigration, construction, pharmaceuticals and health care, banking, trust, and IT law. “Establishing long-lasting relationships and providing clients with quality, comprehensive solutions are integral aspects of our value-added service,” said Monika. “Our collaboration with Andersen Global further equips us to provide a seamless, integrated suite of services so clients can achieve their business objectives at the local and international levels.” Andersen Global Chairman and Andersen CEO Mark Vorsatz added, “rutland & partners compe

i2c Sets Industry Record with More Than 20 New Implementations Across 10 Markets in November7.12.2021 18:21:00 EET | Press release

i2c Inc., a leading provider of digital payment and banking technology, today announced it had deployed more than 20 new payment and digital banking programs for clients across 10 markets and four continents during the month of November alone. “The growth levels combined with the diversity of customers and programs we’re witnessing in our business today is a testament to our growth strategy and global team,” said Amir Wain, founder and CEO of i2c Inc. “We are thrilled to be the enabler of choice for visionaries in the payments and digital banking space as they work to accelerate financial innovation and expand access to millions of end users worldwide,” he said. i2c powers industry leaders in fintech, digital banking, cryptocurrency, as well as traditional financial institutions on a single, agile global platform. This fiscal half’s success includes new enterprise partners, as well as product and global program expansions for several U.S. and international programs, including: 1derful

Sunny Varkey Launches Tmrw, a New Learning Operating System (LearnOS) for Global Education to Bring a Quality Education Within Reach of Every Child7.12.2021 17:48:00 EET | Press release

Tmrw, a new and scalable Learning Operating System (LearnOS) for global education with a mission to help bring a quality education to every child, was launched this month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211207005768/en/ Sunny Varkey, Chairman and Founder of Tmrw (Photo: Business Wire) Its interoperable All-In-One Integrated Platform is built to be accessible and affordable for Government funded schools operating in both the developed and developing world settings. In particular, it seeks to reach all students irrespective of their background or their ability to pay. It is designed to cater to the needs of every curriculum, context and mode of learning, whether brick and mortar, virtual or blended. Tmrw’s vision over time is to underpin learning, teaching, and the operational needs of K12 education, higher education and life-long learning. Sunny Varkey, who also founded the Global Teacher Prize, has ensured th

Nexo Expands Institutional Access to Crypto in Collaboration with Fidelity Digital Assets7.12.2021 17:30:00 EET | Press release

Nexo , the leading regulated institution for digital assets, today announced its collaboration with Fidelity Digital AssetsSM, a leading institutional focused execution and custody services platform provider, to revolutionize institutional access to digital assets by together offering best-in-class custodial and lending services, including the launch of innovative institutional-focused products. Nexo, a pioneer of cryptocurrency-collateralized credit, and Fidelity Digital Assets as custodian and collateral agent, will develop a comprehensive product suite and compliant infrastructure for institutional investors seeking exposure to digital assets. As a first step, the collaboration with Fidelity Digital Assets will expand Nexo’s ability to service and enhance its growing portfolio of assets under management and will provide an additional custody layer to Nexo’s military-grade security infrastructure. This latest development gives institutional investors who currently custody their digit

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom