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Digital Innovation on the Agenda of the Modern CFO
Today’s CFOs are taking powerful and innovative approaches to optimize budget spend and transform the way they view digital IT assets. By redefining vendor relationships and freeing up new, elastic forms of working capital, CFOs aim to help the business increase top-line growth, reduce bottom-line costs, or both. The CFOs at Metalurgica Fallgatter (Fallgatter) and Continental Parafusos (Continental) led the charge to identify ways for their respective companies to reduce their SAP application maintenance spend. Both organizations zeroed in on third-party support as the alternative solution and by selecting Rimini Street, they liberated significant maintenance and support savings that they were able to divert to business transformation initiatives.
Fallgatter, a metalworking parts and equipment company based in Cachoeirinha, Brazil, became a customer of Rimini Street in 2017. Responding to Brazil’s economic crisis and looking for additional ways to optimize spend across the organizations, the company’s CFO Cristiane Holl led the charge to revamp their IT budget and find ways to reduce their software maintenance spend, which was one of the single biggest costs. After due diligence, the company selected Rimini Street to become their SAP applications support provider.
With the cost savings and better IT resource management afforded by the move to Rimini Street, Fallgatter was able to invest in more modern CRM systems, better tax management solutions and new business applications for HR and production. “By partnering with Rimini Street to reduce our application maintenance spend, our company was able to invest in other important systems and applications to improve the business and align our IT roadmap with the core business goals. Now our ERP maintenance spend is no longer draining our IT budget,” said Holl.
Operational Efficiencies Gained with Rimini Street Support
CFO Maria Augusta Martins at Continental Parafusos, an industrial fasteners manufacturer for the automotive industry based in São Paulo, Brazil, also analyzed the financial benefits of moving to Rimini Street’s ultra-responsive support services. Additionally, she wanted to ensure that changing support wouldn’t affect the reliability and stability of their production systems. By speaking in depth to Rimini Street clients in Brazil, Martins was satisfied that they would be in safe hands with Rimini Street and assured the interoperability and compatibility with constantly evolving technology standards.
In addition, Continental was able to increase its manufacturing efficiency and productivity by switching to Rimini Street, as significant internal resources were liberated to focus on more strategic business initiatives. “The quality and agility of the services provided by Rimini Street allow our IT team to focus on the innovation of our manufacturing technology, not day-to-day ERP maintenance,” said Martins. “Any bugs are resolved quickly; Rimini Street also anticipates potential incidents and handles our legal and regulatory updates to ensure we stay compliant.”
“Companies such as Fallgatter and Continental showcase the benefits that organizations can experience when bold financial leaders review their vendor support costs and model to help solve financial challenges and drive their businesses towards greater profitability and operational efficiency,” said Edenize Maron, general manager, Rimini Street Latin America. “CFOs like Cristiane Holl and Maria Augusta are examples of leaders who have already understood this new opportunity to drive innovation and change.”
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. More than 2,000 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)
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, 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 (including our pending appeal of the permanent injunction) or in the government inquiry or any new litigation; the final amount and timing of any refunds from Oracle related to our 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, Rimini Street Mobility, Rimini Street Analytics, 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 8, 2019, 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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