FP Corporation Switches to Rimini Street Support for Its SAP Applications
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 FP Corporation (FPCO), the largest maker of plastic food containers and related packaging materials in Japan, has switched to Rimini Street Support for the company’s SAP ECC 6.0 applications. By switching to Rimini Street, FPCO reduced the cost of its annual software support fees by 50% and deferred a costly migration to S/4HANA while the company evaluates options over time for its next-generation ERP platform. Under Rimini Street third-party support, FPCO can run its existing SAP applications for at least 15 years from the time that it switched support providers, with no required upgrades or migrations.
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FP Corporation Switches to Rimini Street Support for its SAP Applications (Photo: Business Wire)
Recognized Market Leader Relies on Customized ERP at Core of Technological Innovations
Established in 1962, FPCO focuses on utilizing technology to maintain its leadership position in the manufacturing and marketing of disposable food containers in Japan. In 2015, the company was recognized as a “Competitive IT Strategy Company” by the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange for successfully implementing a supply chain infrastructure network across Japan, with supply chain management enterprise software at its core. The strategy was implemented to organically connect and advance FPCO’s development capabilities, purchasing power, manufacturing capacity, distribution, recycling and information networks to ultimately improve its customer service levels. As part of this strategy, FPCO relies heavily on its stable and mature SAP platform, which has been highly customized with many add-ons to meet its unique operational and business needs. After SAP raised its annual maintenance fees, FPCO reassessed the value of SAP support fees and realized it could no longer justify the costs to remain supported by the vendor. FPCO then evaluated third-party support to optimize costs and maximize the ROI for its SAP environment.
“A few years ago, our SAP maintenance fees went up. This heightened the concern around our maintenance spend and when we assessed the value of our spend, the maintenance increase made the return on investment even less attractive internally,” said Yuuki Hashimoto, vice president of IT at FP Corporation. “We had also considered moving to S/4HANA but could not support a reasonable business justification due to the huge cost to upgrade, the disruption to our business and the many add-ons that were developed for our customized environment that we would have to leave behind.”
“Instead, we are investing the money we have saved from switching to Rimini Street Support into our overall IT strategy, which includes stabilizing our current operations, enhancing the functionality of existing applications to improve our business operations, as well as investing in new areas of technology,” continued Hashimoto.
A Partner for High-Quality, Premium-Level Support in Japan
Based on the actual service experience of Rimini Street clients, FPCO’s due diligence and evaluation revealed Rimini Street’s business model to provide the high-quality partnership it required to support its mission-critical SAP system. As with all Rimini Street clients, FPCO is assigned a Primary Support Engineer (PSE), backed by a team of functional and technical engineers available 24/7/365, who have an average of 15 years’ experience in the client’s enterprise software applications. Clients also receive the Company’s industry-leading service level agreements (SLAs) with a guaranteed response time of 10 minutes for critical (P1) issues.
“Like many other SAP licensees, FPCO could see no justification to migrate to S/4HANA at this time. By switching to Rimini Street Support, FPCO was able to increase and maximize the ROI from its existing SAP system, and the company can now take its time to develop an ERP strategy and roadmap for the future that is driven by the business’ needs instead of the vendor’s,” said Yorio Wakisaka, regional general manager, Japan, Rimini Street. “We will continue to support FPCO and help it optimize annual IT costs, which will enable it to further improve its service levels with a robust supply chain management (SCM) system at its core.”
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. Over 2,100 Fortune 500, Fortune Global 100, 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.
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. All statements pertaining to Rimini Street’s expectations regarding the expected use of proceeds from the offering described in this press release constitute forward-looking statements. 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 duration of and economic, operational and financial impacts on Rimini Street’s business of the COVID-19 pandemic, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt Rimini Street’s business or that of its 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; Rimini Street’s need and ability to raise additional equity or debt financing on favorable terms and Rimini Street’s ability to generate cash flows from operations to help fund increased investment in Rimini Street’s growth initiatives; the sufficiency of Rimini Street’s cash and cash equivalents to meet its liquidity requirements; the terms and impact of Rimini Street’s 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 Rimini Street’s recently introduced products and services, including its 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 Rimini Street expects 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 risks discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on August 5, 2020 and in the prospectus supplement dated August 14, 2020 relating to the underwritten public offering of Rimini Street’s common stock that closed on August 18, 2020 and as updated from time to time by 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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