Business Wire

Rimini Street Celebrates 15 Years of Delivering Client Success

Share

Rimini Street, Inc. (Nasdaq: RMNI), a global provider of business software products and services, the leading third-party support provider for Oracle and SAP software products and a Salesforce partner, today announced that September marks the 15th anniversary of the Company’s founding in 2005 to redefine the enterprise software support market. The Company set out to deliver a premium, ultra-responsive support model, and bring choice and value to software licensees around the world. Since its inception, Rimini Street has continually set the premium standard on what Oracle and SAP licensees should expect from their support experience. The Company is responsible for delivering a long history of innovative “firsts” for the enterprise software support market, including guaranteed ultra-responsive SLA’s, support for customizations at no additional cost, support for at least 15 years without required upgrades or updates and saving clients nearly $5 billion in total maintenance and support costs.

15 Years of Innovation and Client Success

Rimini Street entered the market in 2005 offering a disruptive 50% savings compared to the software vendor’s annual support fee and a better, more comprehensive support model. In addition to receiving a premium support experience, every Rimini Street client is guaranteed support on their current platform for a minimum of 15 years from the time that they switched support providers, regardless of the software release they are currently running. Software licensees are no longer required to implement updates, upgrade their system, or perform a full migration to a new platform to be able to receive full support. Unneeded upgrades and migrations are a time-consuming, costly and highly disruptive process and switching to Rimini Street improves the operational efficiencies of both the enterprise software system and the IT organization, allowing the client’s internal support teams to focus on priority projects that support competitive advantage and growth.

To date, the Company has helped more than 3,500 clients solve their enterprise software roadmap and support challenges, enabling them to save up to 90% in total maintenance costs and giving them funding for their business transformation needs. Rimini Street has helped IT departments across the globe become valuable, strategic partners to their business, rather than be viewed as a cost center.

“We switched our enterprise software support to Rimini Street in 2015 and have not looked back. The Company has closely partnered with our organization, and on more than one occasion delivered on our needs beyond what we were expecting,” said Ron Abreu, director, Global IT, SWM International. “The combination of their responsive service and cost savings was important to us. To date we have been able to extend the life expectancy of our legacy systems and reduce our total cost of ownership. Switching to Rimini Street Support was an important part of this success.”

People, Process and Technology Innovation Drive Award-Winning Support Model

Rimini Street’s unique, award-winning enterprise software support model puts its highly experienced engineers, with an average of 15 years’ experience in the client’s specific software system, on the front lines with clients ensuring a personalized, ultra-responsive approach to all support cases. The Company fosters a client-obsessed culture which prioritizes client-centric KPIs to ensure that everyone across the service delivery organization is working together toward a common goal. Rimini Street continues to regularly achieve an average client satisfaction rating of 4.8 out of 5.0, where 5.0 is “excellent,” and in the second quarter of 2020, the Company delivered more than 104,000 case update communications to its clients on time. In addition, Rimini Street was the first third-party support provider to deliver SLAs based on client update communications, as well as for response times. Recently the Company further enhanced its industry-leading SLA for all clients with a 10-minute guaranteed response time for critical Priority 1 cases and a 15-minute response time for all Priority 2 cases.

“Our experience with Rimini Street over the seven plus years of our support partnership has been their continual commitment to going above and beyond to deliver value back to our organization – something that we never experienced with the original software vendor,” said Dennis Ratliff, IT Applications/Development, Viking Range. “Not only have we been a client for the last seven years, but we have also had the same Primary Support Engineer during this time, and we appreciate the longevity and personal connection we have established with the Company as a result. In addition, we have saved numerous IT personnel hours over the years courtesy of our Rimini Street support team who are dedicated to helping us find a solution, even when the issue is not part of our ERP system. They are truly a trusted advisor and partner.”

Rimini Street has won numerous industry awards for delivering excellence and innovation in customer service – 24 awards for customer service in 2019 alone – largely due to its combined approach of putting proven, experienced engineers on the front lines, its strength in processes that are also ISO 9001 and ISO 27001-compliant, and the Company’s patented and patent pending purpose-built support solutions and technologies. The Company recently won two awards for innovation and achievement in customer success with its patent pending Rimini Street Artificial Intelligence Support Applications (AI Applications), which has already reduced software case resolution time for clients by 23%. The AI Applications are a result of the Company’s continued investment in optimizing support processes and ensuring global service delivery outcomes at scale.

Building Trusted Partnerships

All Rimini Street clients benefit from an assigned senior Primary Support Engineer (PSE), who is backed by a team of functional and technical experts that form specialized teams as needed to resolve complex client cases, available to the client 24/7/365. The Company has nearly 700 professionals in its Global Service Delivery organization, based in 17 countries serving clients around the world, including 200 full-time employees on its Tax, Legal and Regulatory Compliance team. Support engineers have specific application and technology experience that enables the Company to overlap skillsets to ensure optimal, global resource assignments.

Third-Party Enterprise Software Support Market is Now Mainstream

According to a Gartner research note, the third-party enterprise software support market is expected to grow from $351 million in 2019 to $1.05 billion by 2023 – a 200% increase.1 And according to a recent Valoir report, “The third-party support market is becoming mainstream. What was once considered a cost-cutting tactic for IT leaders has become a strategic tool for effective application IT portfolio management, enabling companies to reduce risk and support greater innovation.”2 Rimini Street is the leader in the third-party enterprise software support space with more than an 80% worldwide market share, as evidenced by the Company’s 2019 fiscal year revenue of $281.1 million in comparison to Gartner’s total revenue of $351 million market in 2019, and its active and to date client count, number of full-time employees and breadth of product support portfolio. The Valoir report also cites Rimini Street’s depth of knowledge about SAP and Oracle applications, modules and databases as well as its expertise in tax, legal and regulatory updates, and a large, global engineering team that can work a case 24/7/365 with its “Follow the Sun” support model.

The Rimini Street Foundation

In 2015, Rimini Street launched the Rimini Street Foundation, a reflection of the values, hearts and passion of the Company and its employees. A program funded entirely by Rimini Street, the Foundation shares Rimini Street’s success with charitable organizations around the world via financial donations, employee volunteer hours and/or donations in kind. The program mantra is “The More we Grow, the More we Can Give” and to date, the Foundation has provided financial aid to more than 100 charities across six continents and contributed thousands of employee volunteer hours.

“When we founded Rimini Street, it was with a single mission in mind – to redefine the enterprise software support industry by delivering a higher quality, better value option than what the industry was getting from the software vendors,” said Seth A. Ravin, Rimini Street co-founder, CEO and chairman of the board. “Over our 15 years, we have celebrated many significant milestones and have grown and changed as an organization. However, one thing has never changed – our passionate, unwavering commitment to our clients. We built Rimini Street on a commitment to service excellence and delivery of the best support experience available to enterprise software licensees. It’s all about our clients, and we look forward to achieving another 15 years of growth and success by helping our clients grow, prosper and achieve success.”

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. To date, more than 3,500 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.

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. 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.


1Gartner, “Predicts 2020: Negotiate Software and Cloud Contracts to Manage Marketplace Growth and Reduce Legacy Costs,” Jo Liversidge, Frances Karamouzis, et al., December 18, 2019.

2“Third-Party Support Goes Mainstream,” a Valoir Report, May 2020.

Contact information

Michelle McGlocklin
Rimini Street, Inc.
+1 925 523-8414
mmcglocklin@riministreet.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

IFF Opens New Dubai Taste Creative Center22.10.2020 22:15:00 CESTPress release

Regulatory News: IFF (NYSE:IFF) (Euronext Paris: IFF) (TASE: IFF), a leading innovator of taste, scent, and nutrition & ingredients, today announced the opening of a new creation, application and innovation center for its Taste division in Dubai, UAE to better serve its customers’ unique needs and drive growth in the African, Middle Eastern, Turkish and Indian markets. “The new facility is a testament to our commitment to investing in the region and to support the specific innovation needs of our customers, leveraging dedicated leadership and cross-functional regional resources,” said Kathy Fortmann, Divisional CEO, Taste. “It will support our ongoing strategy to expand our geographic and customer reach, while accelerating growth in fast-growing emerging markets.” The state-of-the-art 1400m2 creative facility, centrally located in Dubai Science Park, will service companies in key regional markets by offering innovative flavors, savory solutions, juice-based compounds, inclusions, color

Saudi Arabia and International Telecommunication Union Announce MoU to Support AI for Sustainable Development Efforts22.10.2020 21:11:00 CESTPress release

Saudi Arabia, represented by the Saudi Data and AI Authority (SDAIA), and the International Telecommunication Union (ITU) today announced a memorandum of understanding (MoU) to collaborate on initiatives aimed at supporting and strengthening efforts to optimize the benefits of AI technologies and applications for sustainable development. Under the partnership, Saudi Arabia will support ITU in developing projects, activities and initiatives that will, among other things, aim to facilitate greater multi-stakeholder participation, international cooperation, and knowledge sharing to accelerate progress towards the UN Sustainable Development Goals (SDGs). This could potentially include developing initiatives such as an “AI Readiness Landscape Framework” that would explore and highlight country responses, progress and best practices related to AI policy frameworks. The MoU was announced by HE Dr. Abdullah Bin Sharaf Alghamdi, President of SDAIA, and HE Houlin Zhao, Secretary-General of ITU,

Aerogen Collaborates on Development of More Than 15 Potential COVID-19 Inhaled Therapies22.10.2020 19:57:00 CESTPress release

Aerogen, the global leader in aerosol drug delivery, today announced details of a broad collaborative effort to support pharmaceutical companies from around the world as they work to develop COVID-19 vaccines and treatments. To date, more than ten million patients globally have been treated safely and effectively with Aerogen’s drug delivery technology 1,5–7. As the global scientific community rallies against the pandemic, there has been unprecedented interest in inhaled delivery of antiviral drugs, leading to Aerogen’s involvement in multiple COVID-19 drug development initiatives with leading pharmaceutical companies and prominent academic groups. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022006039/en/ Aerogen Ultra (Photo: Business Wire) Aerogen’s closed-circuit nebulizer technology, which addresses key concerns around safety and improves patient outcomes5–8, is being used in hospitals across the globe to deliver a

Five Highlights at the 26 th Yiwu Fair to Attract 50,000 Global Merchants22.10.2020 16:25:00 CESTPress release

The 26th China Yiwu International Commodities (Standards) Fair ("Yiwu Fair") was opened on October 21 at Yiwu International Expo Center. The event, which will last till October 25, is expected to attract over 50,000 businessmen worldwide with these five highlights that can’t be missed. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022005798/en/ Highlight 1: Encouraging online and offline trade Due to the COVID-19 pandemic, exporters are facing great challenges this year. Therefore, Yiwu Fair 2020 invited more foreign business organizations and their representative offices in China. Around 10 delegations with 1,600 foreign businessmen in China are expected to attend. And online trade matchmaking meetings targeting Malaysia, the United Kingdom, Chile, etc. will allow exhibitors to connect with oversea traders online while meeting on-site foreign traders. Meanwhile, matchmaking meetings will also be held to help exhibitors

Hilton Effect Foundation Reveals 2020 Grants and Achieves $1 Million in Global COVID-19 Community Response Efforts22.10.2020 16:00:00 CESTPress release

The Hilton Effect Foundation announced today its 2020 Hilton Effect grantees, which include community-based organizations playing a direct role in COVID-19 pandemic recovery efforts. Through these grants and donations already made by the Foundation, which serves as Hilton’s primary philanthropic arm, the Foundation has now awarded more than $1 million dollars in COVID-19 community response efforts. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201022005724/en/ Hilton Effect Foundation reveals 2020 grants and achieves $1 million in global COVID-19 community response efforts. (Graphic: Hilton Effect Foundation) “A core part of the Hilton Effect Foundation’s work is to support our communities around the world through both good times and bad,” said Kate Mikesell, president, Hilton Effect Foundation. “From the very start of the pandemic, we have been listening to community leaders about the direct and indirect challenges they ar

Smiths Detection Inc. receives a $90.8M IDIQ contract to manufacture Joint Chemical Agent Detector Adapter for US Department of Defense22.10.2020 16:00:00 CESTPress release

Smiths Detection Inc. (SDI), a global leader in threat detection and security screening technologies, announced it will initiate manufacturing of the Solid Liquid Adapter (SLA) following an indefinite delivery/indefinite quantity (IDIQ) award, worth potentially $90.8M over a maximum nine (9) year ordering period, with the US Department of Defense (DoD). The SLA adds new and expanded detection and identification capabilities to Joint Chemical Agent Detectors (JCAD), one of the DoD’s largest chemical detection programs in history. JCAD fitted with an SLA (JCAD SLA) gives the SLA operator the ability to both test for illicit drugs, including opioids such as fentanyl, and detect explosive compounds – without compromising the conventional chemical warfare agent detection capability of the JCAD. Speaking about the newly developed technology, Smiths Detection Inc. President, Shan Hood, said, “The SLA leverages existing technology, extending both capabilities and the life-cycle of widely deplo

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom