Rimini Street Launches Rimini Custom™ to Expand its Award-Winning Services to a Broader Scope of Enterprise Software
Rimini Street, Inc. launches Rimini Custom™, a new service offering to expand enterprise software support, focusing on innovation and transformation while extending the useful life of existing software.
The expansion of Rimini Street's service offerings to include Rimini Custom™ represents a strategic move to capture more market share within the enterprise software support sector. By extending support to a wider array of enterprise software products and releases, Rimini Street is positioning itself as a comprehensive provider, which could potentially increase its appeal to large organizations seeking to streamline their IT support services. This diversification of services could lead to a more stable recurring revenue stream and may enhance investor confidence in the company's growth trajectory.
Moreover, the emphasis on allowing organizations to focus on innovation and transformation while Rimini Street handles the support of existing systems addresses a common pain point for many businesses. This could lead to increased customer satisfaction and loyalty, translating to a lower churn rate and a stronger competitive edge against traditional support providers.
The launch of Rimini Custom™ is likely to have a direct impact on Rimini Street's financial performance. By expanding its serviceable market, the company could see an increase in sales and a broader customer base. This move may also result in cost efficiencies due to economies of scale if Rimini Street can leverage its existing infrastructure and expertise to support additional software without a proportional increase in costs.
Investors should monitor the adoption rate of Rimini Custom™ as it could serve as an indicator of the company's ability to execute on its growth strategy. Additionally, the service's impact on the average revenue per user (ARPU) will be a key metric to assess its financial significance. If Rimini Street can successfully cross-sell Rimini Custom™ to its existing client base, it could significantly boost its ARPU.
Rimini Street's initiative to offer Rimini Custom™ aligns with the broader industry trend of IT service providers expanding their portfolios to include more comprehensive, end-to-end solutions. As organizations increasingly seek to optimize their IT operations and reduce the total cost of ownership, service providers that can offer a one-stop-shop for support are well-positioned to meet these market demands.
The ability to support a broader scope of software products and releases could also indicate that Rimini Street is anticipating or responding to shifts in enterprise software usage patterns. Given the complexity and cost associated with upgrading or replacing enterprise software, the extended support offered by Rimini Custom™ may resonate with organizations looking to maximize the lifespan and value of their existing IT investments.
02/27/2024 - 09:00 AM
New offering extends the life of additional enterprise software products and releases, allows an organization to focus its IT resources on innovation and transformation, and provides unified IT services from one proven, trusted partner
LAS VEGAS --(BUSINESS WIRE)--
Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, products, and services, the leading third-party support provider for Oracle and SAP software, and a Salesforce and AWS partner, today announced the launch of Rimini Custom™ , a new service offering that expands the company’s leading support and services to a broader scope of enterprise software products and releases.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240227814619/en/
Rimini Street Launches Rimini Custom™ to Expand its Award-Winning Services to a Broader Scope of Enterprise Software (Graphic: Rimini Street)
“Rimini Custom is a game-changer for organizations that need to focus their limited IT resources on innovation and transformation investments while ensuring existing, stable enterprise software applications, databases, and technologies continue to support mission-critical operations with an extended useful life. Organizations don’t have the time, resources, or ROI to rip and replace their vast, working software estates. With Rimini Custom, Rimini Street can ensure more of our clients’ enterprise software portfolios are supported and optimized while they focus on investments that can help drive competitive advantage and growth,” said David Rowe, chief product officer and EVP of global transformation at Rimini Street.
“Organizations need to take a strategic approach to managing IT and business processes in an era of rapid technological change, outsource commoditized mission-critical systems, and invest in innovation,” says R “Ray” Wang, principal analyst and CEO of Constellation Research.
More software supported. More value delivered.
Since its inception in 2005, Rimini Street has been at the forefront of addressing complex IT challenges, partnering with over 5,300 clients to help them achieve their business growth and profitability goals. Recognized for its deep technical expertise across a wide array of enterprise software such as Oracle, SAP, and Salesforce® - and driven by the demands and needs of its clients - Rimini Street has continually evolved to provide its services to a broader scope of enterprise software products and releases. With Rimini Custom, software licensees can now bring their requests for support of just about any enterprise software product and release to Rimini Street.
“Rimini Street delivers exceptional support for our SAP ecosystem. We are excited to explore additional Rimini Street support opportunities with the availability of Rimini Custom,” said Jeff Miller, senior director of technology services at NIBCO.
Rimini Custom clients will enjoy the benefits of award-winning Rimini Support™ , Rimini Manage™ , and other Rimini services previously only available for a limited set of vendors, product lines and releases. Rimini Support services deliver industry-leading response SLAs and cover a wide range of value-added enterprise software management services, including customization support, at no additional cost. This steadfast focus on client service and success has earned Rimini Street a 4.9 client satisfaction rating on cases and onboarding, where 5.0 is considered excellent. Rimini Support features include:
Superior Service Experience - Guaranteed, tailored, end-to-end support and services with ultra-responsive resolution and proactive root cause analysis
Proven Sustained Value - Up to 15 additional years of service for the software supported from the time of contract with no upgrades needed
ONE Trusted Partner - Single-provider solution that unifies software support and services for pressing IT needs, enabling time, people, and resource efficiencies
“Our unmatched ability to continually grow our capabilities and help clients manage complex enterprise software platforms has distinguished us as the leading independent support provider for enterprises navigating change. With significant investments in support infrastructure, methodology, and resourcing, Rimini Street is able to effectively scale our award-winning support and maintain our high level of quality and service commitment to our clients for a much wider scope of enterprise software products and releases,” said Craig Mackereth, global vice president of global support delivery at Rimini Street.
Learn more about the benefits of Rimini Custom for your organization, and watch the video of the launch announcement here .
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support, products and services, the leading third-party support provider for Oracle and SAP software and a Salesforce and AWS partner. The Company has operations globally and offers a comprehensive family of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software, and enables clients to achieve better business outcomes, significantly reduce costs and reallocate resources for innovation. To date, over 5,300 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 enterprise software solutions provider. To learn more, please visit riministreet.com , and connect with Rimini Street on Twitter , Instagram , Facebook and LinkedIn . (IR-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 “anticipate,” “believe,” “continue,” “could,” “currently,” “estimate,” “expect,” “future,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “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; additional expenses to be incurred in order to comply with injunctions against certain of our business practices and the impact on future period revenue and costs; changes in the business environment in which Rimini Street operates, including the impact of any recessionary 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 ability to sustain or achieve revenue growth or profitability, manage our cost of revenue and accurately forecast revenue; 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 qualified employees and key personnel; challenges of managing growth profitably; 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; the impact of environmental, social and governance (ESG) matters; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and 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, or a failure by us to establish adequate tax reserves; 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 Quarterly Report on Form 10-Q filed on November 1, 2023, 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.
© 2024 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/20240227814619/en/
Janet Ravin
pr@riministreet.com
Source: Rimini Street, Inc.
What is the new service offering launched by Rimini Street, Inc.?
Rimini Street, Inc. has launched Rimini Custom™, a new service offering that expands the company’s leading support and services to a broader scope of enterprise software products and releases.
What are the benefits of Rimini Custom™ for organizations?
Rimini Custom™ allows organizations to focus their limited IT resources on innovation and transformation investments while ensuring existing enterprise software applications continue to support mission-critical operations with an extended useful life.
Who is the chief product officer and EVP of global transformation at Rimini Street?
David Rowe is the chief product officer and EVP of global transformation at Rimini Street.
How many clients has Rimini Street partnered with since its inception?
Rimini Street has partnered with over 5,300 clients since its inception in 2005.
Which enterprise software providers does Rimini Street support?
Rimini Street supports enterprise software providers such as Oracle, SAP, and Salesforce®.
