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 Mitsubishi Corporation Life Sciences, a food ingredients manufacturer within Mitsubishi Corporation's Food Industry Group, has switched to Rimini Street Support for its JD Edwards applications. Switching from the vendor's support to Rimini Street has enabled the company to dramatically reduce its maintenance costs and free up internal resources for strategic initiatives. By freeing up critical resources - time, money and personnel - Mitsubishi Corporation Life Sciences is able to begin investing in its digital transformation initiatives for the next five to 10 years and establish a foothold for further business expansion, both locally and overseas.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211027005034/en/
Mitsubishi Corporation Life Sciences to Accelerate Next Wave of Digital Transformation and Business Growth by Switching to Rimini Street Support (Photo: Business Wire)
Optimizing Resources to Fuel Digital Transformation
Mitsubishi Corporation Life Sciences Limited is a member of the Mitsubishi Corporation Food Industry Group, which has diversified businesses in a number of market segments. It was formed in April 2019 through the merger of three companies - Mitsubishi Shoji Foodtech, MC Food Specialties and KOHJIN Life Sciences - to launch Mitsubishi Corporation Life Sciences Limited. The company is focused on a five to 10-year plan to transform its business through strategic digital initiatives, including projects to support remote working and flexible working environments, digitizing documents and moving to a paperless environment and utilizing artificial intelligence and big data technologies to support its future business needs.
As part of this reform, the company needed to find budget to begin planning and implementing these new digital initiatives. To support this company-wide initiative, IT reviewed and evaluated its JD Edward system - used for production management including work orders, material requirements planning and order management - to assess the current ROI it was receiving in exchange for the high support costs. The company wanted to continue using its current stable software version for as long as possible and did not see value in future upgrades. In addition, the company felt that the vendor was not providing adequate support for its system - they encountered frequent problems that caused critical issues in their operations but were not receiving quality support to address these issues. For Mitsubishi Corporation Life Sciences, even the slightest downtime seriously impacts its business activities such as accounting, production, sales, purchasing and inventory management. Mitsubishi Corporation Life Sciences sought an alternative approach to address these issues, which led them to Rimini Street.
"We use JD Edwards for many critical business areas such as accounting, production, sales, purchasing and inventory management, and even a momentary downtime would have a serious impact on our business activities. In the past, the vendor's support for critical software issues that could stop our business has been unsatisfactory. As we looked for ways to both get the quality support we needed and the ability to optimize our investment in the platform, we found out about third-party maintenance support from Rimini Street," said Shinya Hattori, chief information officer and general manager of Information Systems at Mitsubishi Corporation Life Sciences. "We made the decision to switch to Rimini Street within about six months of starting our evaluation. With the resources we have freed up as a result of this switch, we aim to invest in areas of corporate growth including overseas expansion and will work closely with Rimini Street to build our own IT roadmap for the future."
Rapid Response and World-Class Support
As with all Rimini Street clients, Mitsubishi Corporation Life Sciences benefits from a flexible, premium-level enterprise software support model that includes industry-leading Service Level Agreements (SLAs) with guaranteed response times of 10 minutes or less for all critical (P1) issues. All clients are also assigned a Primary Support Engineer with an average of 20 years' experience in the client's specific enterprise software and backed by a team of functional and technical engineers.
"In the past, the software vendor often failed to quickly respond to our requests for support," said Yohei Yoshizaki, group manager for the Information Systems Department at Mitsubishi Corporation Life Sciences. "With Rimini Street, we receive a higher quality service, more sincere responses to our inquiries and faster response times."
"Mitsubishi Corporation Life Sciences is another example of how companies in Japan are optimizing their costs and maximizing their ERP investments to pave the way for digital transformation that help their businesses grow and thrive," said Yorio Wakisaka, group vice president and regional general manager, Japan, Rimini Street. "By partnering with Rimini Street, they have dramatically reduced their support and maintenance costs enabling them to free up resources that can be redirected to more strategic business imperatives. We look forward to continuing to support Mitsubishi Corporation Life Sciences as they take back the control of their IT roadmap to better drive 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.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005034/en/