Latest news with #JoeLocandro
Techday NZ
a day ago
- Business
- Techday NZ
Exclusive: CIO says AI breaks the cycle of forced ERP upgrades
CIOs are no longer bound to the treadmill of forced ERP upgrades. That was the message from Joe Locandro, Executive Vice President and Global CIO at Rimini Street, who argued that artificial intelligence and third-party support are reshaping the economics and strategy of enterprise software. "We're going to keep our Snowflake data warehouse intact. I'm not putting any more in," Locandro said. "Any other data I need, I just go to the source system. The financial system is always up to date. It's going to be more up to date than whatever I put in a data warehouse." He explained that the rise of agentic AI has changed how companies can work with their systems. "Why do you need to pull all the data into one place if you can get an agent to go every day, every hour, and pick what you need?" he asked. "Technical debt used to mean, if you're three versions out of date, it's not supportable and it hinders innovation. That's no longer true." At Rimini Street, Locandro said, old systems are not liabilities but assets to be preserved and supported. "All these ERPs we support, we patch them, we keep them current, ECC6 for example, all the way to 2040," he explained. Supporting the ageing workforce A key challenge is the loss of specialist knowledge as experienced IT professionals retire. "Those old manufacturing systems are really maintained by my age group in the 60s and beyond," Locandro said. "You've got three or four people in each company who only know it, and they're really critical. It's not about the systems so much as the ageing workforce to support them." To address this, Rimini Street provides custom support alongside its work with standard ERPs. "Now people like me and other CIOs, we have alternatives," Locandro said. "Why don't you self-fund your innovation through third-party support?" Savings are significant, he argued. "For example, in ECC6 the support from the database is usually around about 40 per cent cheaper, and then you move up the stack to managed services and applications. If you had a $2 million bill for maintenance on Oracle, we can get it done for far less," he said. Innovation without compromise Locandro rejected the idea that cost savings come at the expense of innovation. "The beauty is the way AI innovation works nowadays, the agents go through what we call a data fabric layer. It builds up like a data dictionary," he explained. This means AI can connect to disparate systems without requiring costly migrations. "Just as it trolls the internet, it trolls internally," he said. "In the future, CIOs will just get plug-and-play apps for what they need. Payment gateways, CRMs, stock inventory - everything's getting more granular." He likened the shift to the app revolution in consumer technology. "In the old days, there was no such thing as an Apple app. Now look how many apps there are. It's the same thing with enterprise systems," he said. Security and cost pressures Rimini Street has also launched Remedy Protect, a wrapper that secures legacy systems without changing their core. "We've got a smart group of engineers. They're like a special ops company," Locandro said. "When you go to the board and they ask about technical debt, you can say not only is it supported, but security exposure is going down too. It's a double whammy." With corporate IT budgets under intense pressure, cost control is driving decision-making. "My budget couldn't cope with 20 per cent increases on Microsoft licences and 300 per cent increases on VMware," he said. "So I went to Rimini Street as a customer. That's where I got my cost relief and kept my budget flat." The company's global footprint, with centres in Brazil, India, the US and soon Malaysia, supports 24/7 monitoring. "We have a response time of less than 10 minutes for priority issues," Locandro said. "If something goes bang in the night, your internal teams can't answer it in 10 minutes because they're asleep. We're always watching." The vendor squeeze Locandro criticised major ERP vendors for restrictive upgrade policies. "The upgrade is never a customer choice. It's a vendor imperative," he said. "They say 2027 you're unsupported, so you have to upgrade." He pointed to SAP's Rise programme, which requires companies to strip out customisations and surrender perpetual licences. "I've spent 50 million making this system regulatory compliant. Now you're telling me I can't take it across? I've got to strip it and redevelop it?" he said. "Boards see it as a one-way bet. There's no optionality." Even some system integrators, he noted, are partnering with Rimini Street despite conflicting strategies. "They told us, if we introduce you to keep the landscape afloat until the customer's ready, maybe they'll give us the big project later," he said. Choice, not compulsion For Locandro, the bigger picture is about shifting power back to customers. "AI is now breaking the nexus with forced upgrades. The traditional path versus the smart path - that's the paradigm shift," he said. Companies can now decide whether to sweat assets, build new functionality on top, or adopt new modules only when needed. "It's like a banking system. It works fine. Leave it be. If you want new functionality, do what the banks do - put a new mobile app on top. It's cheaper, quicker, and avoids endless audits and regression tests," he explained. He said boards are now weighing IT investments against core business priorities more sharply than ever. "If I had $100 million, would I put it in a plant that needs to produce more, or would I give it to you for an IT system and wait five years?" he asked. Locandro concluded with a warning for software vendors: "I never had a choice before. Now I do. I'm not forced to a vendor timetable or road map anymore. I get choice, and that's the game-changer."
Ottawa Citizen
25-04-2025
- Business
- Ottawa Citizen
Rimini Street Appoints Joe Locandro as EVP and Chief Information Officer to Lead Global IT Strategy
Article content Former Rimini Street client and seasoned IT and business executive to drive enterprise systems strategy and accelerate innovation across Rimini Street's global operations Article content Article content LAS VEGAS — Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the appointment of Joe Locandro as executive vice president (EVP) and chief information officer (CIO). In this role, Locandro will lead Rimini Street's global IT operations, oversee enterprise systems strategy and drive technology innovation initiatives in support of Rimini Street's continued growth and client success. Article content Locandro brings more than 25 years of international leadership experience across sectors including energy, aviation, utilities, construction, and entertainment. In his most recent role prior to joining Rimini Street, he served as the CIO of Fletcher Building, a leader of construction and infrastructure leader, and one of the largest listed companies in New Zealand. Previously, he held executive technology and transformation roles at globally recognized organizations including BP, Cathay Pacific, CLP, Emirates, Energy Australia, and Village Roadshow. Article content 'Having personally experienced the value and expertise of Rimini Street's engineering capability, dedication to client success was a compelling motivation to join the Rimini team. Their ability to help organizations get on a smart path to accelerated growth and profitability is a key value proposition for all companies. I am excited for the opportunity to deliver high quality support and innovation to our internal stakeholders and enable new capabilities for the clients we proudly serve around the world,' said Locandro. Article content 'Joe's leadership will play a pivotal role in enhancing our global IT systems, infrastructure and cybersecurity operations as we continue scaling our platform to support many more thousands of clients worldwide,' said Seth Ravin, CEO and chairman of the board at Rimini Street. 'His deep expertise and pragmatic approach to transformation make him an ideal fit for Rimini Street.' Article content 'Flexibility is a winning strategy,' said Locandro. 'Rimini Street empowers organizations to evolve at their own pace and I'm looking forward to strengthening the systems, security and scalability that underpin that promise across our global operations.' Article content Locandro holds a bachelor's degree in economics and commerce from the University of Melbourne, a graduate diploma in Marketing from Monash University and has completed executive studies at Stanford University's Graduate School of Business focused on strategic technology leadership. Locandro also has served on the board of SITA (Société Internationale de Télécommunications Aéronautiques) and is a member of the Australian Institute of Company Directors. He will be based in Rimini Street's APAC region and report directly to Mr. Ravin. Article content Article content With Locandro's appointment, Rimini Street is further advancing its ability to deliver resilient, agile IT solutions that support the evolving needs of clients worldwide. Article content About Rimini Street, Inc. Article content Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider and achieved better operational outcomes, realized billions of US dollars in savings and funded AI and other innovation investments. Article content 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 'anticipate,' 'believe,' 'continue,' 'could,' 'currently,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'goal,' 'potential,' 'predict,' 'project,' 'seem,' 'seek,' 'should,' 'will,' 'would' 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, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; any additional expenses to be incurred to comply with any injunction ordered by the courts relating to the Rimini II litigation matter and the impact on future period revenue and costs incurred related to these efforts; changes in the business environment in which Rimini Street operates, including the impact of any macro-economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our expectations regarding new product offerings, partnerships and alliance programs, including but not limited to our partnership with ServiceNow; our ability to grow our revenue and accurately forecast revenue, along with the results of any efforts to manage costs in light of current revenue expectations and expansion of our offerings; the expected impact of reductions in our workforce during the last and current fiscal year and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain key personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind-down the offering of services for Oracle PeopleSoft products, which may be impacted by pending decisions in the Rimini II litigation; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise 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; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats; any deficiencies associated with generative artificial intelligence (AI) technologies potentially used by us or used by our third-party vendors and service providers; our ability to protect the confidential information of our employees and clients and to comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, tariff costs (including tariff relief or the ability to mitigate tariffs, particularly in light of proposed policies of the new Presidential administration), a failure by us to establish adequate tax reserves, or our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance (ESG) matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities/agencies; our credit facility's ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street's equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading 'Risk Factors' in Rimini Street's Annual Report on Form 10-K filed on February 27, 2025, 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.
National Post
24-04-2025
- Business
- National Post
Rimini Street Appoints Joe Locandro as EVP and Chief Information Officer to Lead Global IT Strategy
Article content Former Rimini Street client and seasoned IT and business executive to drive enterprise systems strategy and accelerate innovation across Rimini Street's global operations Article content Article content LAS VEGAS — Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the appointment of Joe Locandro as executive vice president (EVP) and chief information officer (CIO). In this role, Locandro will lead Rimini Street's global IT operations, oversee enterprise systems strategy and drive technology innovation initiatives in support of Rimini Street's continued growth and client success. Article content 'Flexibility is a winning strategy. Rimini Street empowers organizations to evolve at their own pace and I'm looking forward to strengthening the systems, security and scalability that underpin that promise across our global operations.' – Joe Locandro Article content Locandro brings more than 25 years of international leadership experience across sectors including energy, aviation, utilities, construction, and entertainment. In his most recent role prior to joining Rimini Street, he served as the CIO of Fletcher Building, a leader of construction and infrastructure leader, and one of the largest listed companies in New Zealand. Previously, he held executive technology and transformation roles at globally recognized organizations including BP, Cathay Pacific, CLP, Emirates, Energy Australia, and Village Roadshow. Article content 'Having personally experienced the value and expertise of Rimini Street's engineering capability, dedication to client success was a compelling motivation to join the Rimini team. Their ability to help organizations get on a smart path to accelerated growth and profitability is a key value proposition for all companies. I am excited for the opportunity to deliver high quality support and innovation to our internal stakeholders and enable new capabilities for the clients we proudly serve around the world,' said Locandro. Article content 'Joe's leadership will play a pivotal role in enhancing our global IT systems, infrastructure and cybersecurity operations as we continue scaling our platform to support many more thousands of clients worldwide,' said Seth Ravin, CEO and chairman of the board at Rimini Street. 'His deep expertise and pragmatic approach to transformation make him an ideal fit for Rimini Street.' Article content 'Flexibility is a winning strategy,' said Locandro. 'Rimini Street empowers organizations to evolve at their own pace and I'm looking forward to strengthening the systems, security and scalability that underpin that promise across our global operations.' Article content Locandro holds a bachelor's degree in economics and commerce from the University of Melbourne, a graduate diploma in Marketing from Monash University and has completed executive studies at Stanford University's Graduate School of Business focused on strategic technology leadership. Locandro also has served on the board of SITA (Société Internationale de Télécommunications Aéronautiques) and is a member of the Australian Institute of Company Directors. He will be based in Rimini Street's APAC region and report directly to Mr. Ravin. Article content With Locandro's appointment, Rimini Street is further advancing its ability to deliver resilient, agile IT solutions that support the evolving needs of clients worldwide. Article content About Rimini Street, Inc. Article content Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider and achieved better operational outcomes, realized billions of US dollars in savings and funded AI and other innovation investments. Article content 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 'anticipate,' 'believe,' 'continue,' 'could,' 'currently,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'goal,' 'potential,' 'predict,' 'project,' 'seem,' 'seek,' 'should,' 'will,' 'would' 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, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; any additional expenses to be incurred to comply with any injunction ordered by the courts relating to the Rimini II litigation matter and the impact on future period revenue and costs incurred related to these efforts; changes in the business environment in which Rimini Street operates, including the impact of any macro-economic trends and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to attract and retain clients and further penetrate our client base; significant competition in the software support services industry; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our expectations regarding new product offerings, partnerships and alliance programs, including but not limited to our partnership with ServiceNow; our ability to grow our revenue and accurately forecast revenue, along with the results of any efforts to manage costs in light of current revenue expectations and expansion of our offerings; the expected impact of reductions in our workforce during the last and current fiscal year and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel, including sales personnel, and retain key personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind-down the offering of services for Oracle PeopleSoft products, which may be impacted by pending decisions in the Rimini II litigation; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise 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; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats; any deficiencies associated with generative artificial intelligence (AI) technologies potentially used by us or used by our third-party vendors and service providers; our ability to protect the confidential information of our employees and clients and to comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, tariff costs (including tariff relief or the ability to mitigate tariffs, particularly in light of proposed policies of the new Presidential administration), a failure by us to establish adequate tax reserves, or our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance (ESG) matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities/agencies; our credit facility's ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the transition to SOFR or other interest rate benchmarks; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street's equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading 'Risk Factors' in Rimini Street's Annual Report on Form 10-K filed on February 27, 2025, 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.
