LAS VEGAS--(BUSINESS WIRE)--Rimini Street, Inc. (Nasdaq: RMNI), a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products, today announced it has obtained Single Touch Payroll (STP) certification by the Australian Government’s Australian Taxation Office (ATO) for PeopleSoft Global Payroll and SAP HCM Payroll. The new certification enables Rimini Street’s Australian clients to submit their payroll data via a ‘pay event,’ either on or before pay day, to the ATO. Rimini Street’s tax, legal and regulatory division passed the complex, rigorous qualification process with the first file submission for both PeopleSoft and SAP software products, well ahead of the deadline set by the ATO.
Premium Service Support for Critical Certification Process
All organizations with 20 or more employees are required to report under STP to stay compliant with the Australian Taxation Legislation. The aim of STP is to streamline employer payroll information reporting to the ATO. The change requires companies to report payments such as salaries and wages, pay as you go (PAYG) withholding, and superannuation information from their payroll solution each time an organization pays its employees, rather than at the end of each financial year.
“With the Australian Taxation Office mandating new Single Touch Payroll reporting requirements, we needed to ensure that our systems were fully compliant,” said John Brizee, SAP manager at Golding Contractors. “Rimini Street provided the STP update for our SAP payroll application. The update was installed, tested, and ready-to-go well in advance of the ATO’s deadline of July 1, 2018.”
Rimini Street put a comprehensive process in place eighteen months prior to the July 1, 2018 deadline to begin preparing clients for this new reporting standard. The Company achieved STP certification for PeopleSoft software products in May 2018 and for SAP related products in June 2018 by completing three main verification steps set by the ATO – an in depth security questionnaire, execution of the ATO’s conformance test suite and lastly, product verification testing.
“STP is the largest change to Australian payroll in recent history,” said Paul Henville, group vice president, Global Product Delivery. “By obtaining the STP certification for our PeopleSoft and SAP clients, we can ensure their systems are supported and compliant for this monumental shift in payroll reporting. This is just one example of how Rimini Street remains diligent, proactive and on the forefront of constantly changing tax, legal and regulatory requirements; STP in particular was one of the most complex requirements we have had to undertake, which we were able to complete ahead of the original software vendors.”
To review the list of vendors certified for STP, visit http://www.sbr.gov.au/products-register/sbr-product-register-full-list
Industry-Leading Tax, Legal & Regulatory Research and Technology
Rimini Street’s tax, legal and regulatory strategy and scoping team is made up of veteran tax specialists, attorneys and international tax, legal and regulatory professionals who use advanced technology and numerous government and private-sector sources to monitor, collect and verify tax, legal and regulatory changes.
Rimini Street also participates in, and is a member of, many prominent tax, legal and regulatory associations around the world, including the American, Canadian, United Kingdom and Australian Payroll Associations, the American Bar Association Section of Taxation, the Financial Executives International Association, the Tax Council and the Tax Executives Institute. The innovative combination of technology, proven methodology and ISO 9001 quality processes consistently assures a fast “legislature-to-live”℠ update delivery cycle and the highest quality deliverables in the industry.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) is a global provider of enterprise software products and services, and the leading third-party support provider for Oracle and SAP software products. The Company has redefined enterprise software support services since 2005 with an innovative, award-winning program that enables licensees of IBM, Microsoft, Oracle, Salesforce, SAP and other enterprise software vendors to save up to 90 percent on total maintenance costs. Clients can remain on their current software release without any required upgrades for a minimum of 15 years. Over 1,620 global Fortune 500, midmarket, public sector and other organizations from a broad range of industries currently rely on Rimini Street as their trusted, third-party support provider. To learn more, please visit https://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 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, continued inclusion in the Russell 2000 Index in the future, 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 litigation developments or in the government inquiry; the final amount and timing of any refunds from Oracle related to our litigation; our ability to raise additional equity or debt financing on favorable terms; the terms and impact of our 13.00% Series A Preferred Stock; changes in taxes, laws and regulations; competitive product and pricing activity; difficulties of managing growth profitably; the success of our recently introduced products and services, including Rimini Street Mobility, Rimini Street Analytics, Rimini Street Advanced Database Security, and services for Salesforce Sales Cloud and Service Cloud products; 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, including its common stock and its Preferred Stock; and those discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on 10-Q filed on August 9, 2018, which disclosures amend and restate the disclosures appearing under the heading “Risk Factors” in Rimini Street’s Annual Report on Form 10-K filed on March 15, 2018, and as updated from time to time by Rimini Street’s future 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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