Welcome to our dedicated page for Rimini Street news (Ticker: RMNI), a resource for investors and traders seeking the latest updates and insights on Rimini Street stock.
Corporate Overview
Rimini Street (RMNI) is an independent provider specializing in end-to-end enterprise software support. Established in 2005, the company offers an extensive range of services that enable clients to run, manage, support, customize, configure, connect, protect, monitor, and optimize their enterprise applications encompassing both Oracle and SAP systems. Leveraging a subscription-based model, Rimini Street delivers cost-effective support programs that challenge traditional vendor-based support fees, which has resonated strongly with IT executives, including CIOs and CFOs, particularly in a landscape characterized by tight IT budgets and increasing cost pressures.
Service Offerings and Business Model
At its core, Rimini Street's business model is built on delivering comprehensive support solutions designed to replace the more expensive annual support contracts offered by the original software vendors. The company provides a unified family of support services for enterprise resource planning (ERP), customer relationship management (CRM), product lifecycle management, and various technology software systems. This approach enables client companies to access award-winning support services without the burden of escalating traditional fees. By offering a subscription model, Rimini Street ensures predictable and scalable cost structures while maintaining a focus on quality and continuity in service delivery.
Operational Excellence and Market Position
Rimini Street is recognized for its rigorous operational standards and a well-honed support methodology that distinguishes it within the competitive landscape. The company’s service model is driven by in-depth technical expertise, comprehensive maintenance protocols, and proactive risk management practices aimed at maximizing the performance of enterprise software environments. Its offerings are underpinned by extensive industry knowledge and a commitment to addressing the ever-evolving challenges faced by modern businesses. Widely acknowledged by prominent industry analysts and independent research organizations, the company has consistently been identified as a credible and robust alternative in the enterprise software support market.
Industry Recognition and Client Base
Over the years, Rimini Street has built a reputation for its innovative approach to software support and has attracted a diverse clientele that spans across both domestic and international markets. Its business model, recognized by industry analysts at firms such as Gartner, Forrester, and Nucleus, emphasizes a value proposition centered on cost-efficiency, enhanced service quality, and strategic IT flexibility. This recognition is a testament to the company’s ability to adapt to evolving market demands while maintaining a focus on core operational strengths and customer satisfaction.
Comprehensive Support Solutions
The portfolio of services offered by Rimini Street extends far beyond simple maintenance. The company integrates customization, configuration, and optimization services into a unified support framework that helps clients sustain and improve the performance of their enterprise applications. This holistic view of support not only ensures immediate operational continuity but also contributes to long-term IT resilience for its clients. By focusing on a collaborative, client-centered approach, Rimini Street addresses both current challenges and complex IT landscape requirements with precision and reliability.
Global Reach and Client-Centric Approach
While a significant portion of Rimini Street’s revenue is generated within the United States, the company has also established a credible presence in various international markets. Its ability to tailor support services to meet the diverse needs of clients across different regions speaks to the versatility and adaptability of its business model. The company’s focus on creating deep, long-term partnerships is evident in its commitment to consistent service delivery and the strategic management of enterprise application environments on a global scale.
Key Industry Keywords and Insights
In discussing Rimini Street, it is essential to highlight industry-specific terms such as enterprise software support, subscription-based service, and cost-effective IT optimization. These keywords not only underscore the operational focus of the company but also illustrate its role in a broader market context where businesses increasingly seek innovative ways to manage software environments while mitigating rising costs.
Competitive Landscape and Value Proposition
- Cost Efficiency: By offering support at approximately half the cost of traditional vendor support fees, Rimini Street presents a compelling value proposition for organizations looking to optimize their IT budgets.
- Technical Expertise: The company’s deep-rooted technical knowledge and strong support framework enable it to address complex software maintenance challenges, ensuring high-quality service delivery.
- Client Focus: With a robust international client base, Rimini Street’s approach is characterized by proactive customer engagement and a tailored service model designed to meet the unique needs of each organization.
- Industry Recognition: The consistent acknowledgment by independent industry analysts and research firms reinforces the company’s authority and trustworthiness in the enterprise software support market.
Understanding the Business Impact
For organizations that rely heavily on enterprise software applications, Rimini Street’s service offerings provide a strategic advantage by ensuring system stability, operational continuity, and a cost-effective alternative to traditional support contracts. The comprehensive nature of its services and the company’s proactive approach to support make it a critical component for enterprises aiming to maintain competitive operational efficiency in a challenging economic climate.
Rimini Street, Inc. (Nasdaq: RMNI) has launched the RMNI LOVE Grant Program in Tokyo, inviting local certified charities to apply for one of five
Rimini Street (NASDAQ: RMNI) has been selected by Globe Union, a leader in kitchen and bath products, to address challenges stemming from declining vendor support for its Oracle EBS systems. This partnership aims to reduce operational costs while enhancing innovation. Globe Union benefits from dedicated support, timely ticket resolutions, and a minimum 15-year software support guarantee. The savings from reduced IT labor can now be reallocated to key projects, including a major production base relocation and new reporting systems. This strategic move emphasizes cost efficiency and technological empowerment in their operations.
Rimini Street, Inc. (NASDAQ: RMNI) will report its fourth quarter and fiscal year 2022 earnings on March 1, 2023, after market close. A conference call and webcast for discussion of results and the 2023 outlook is scheduled for 5:00 p.m. Eastern / 2:00 p.m. Pacific. The event will be accessible via Rimini Street's Investor Relations site. The company is a leading provider of third-party support for Oracle and SAP software, serving over 4,900 organizations globally. Investors can find more details about the event on their official website.
Rimini Street, Inc. (Nasdaq: RMNI) has announced the global adoption of its four-day workweek program, "Fabulous Fridays!" for 2023 following a successful trial in 2022. The initiative aims to enhance employee well-being and productivity by reducing workdays, allowing employees more time for relaxation and personal matters. Feedback from staff has been overwhelmingly positive, citing improved work-life balance. This decision supports Rimini Street's core values of sustainability and productivity, reinforcing its commitment to employee satisfaction and operational excellence.
Rimini Street (NASDAQ: RMNI), a leader in third-party support for Oracle and SAP, has announced a strategic partnership with Tanita Corporation, a global leader in health monitoring devices. By moving to Rimini Street for SAP support, Tanita is reducing its annual maintenance costs by up to 90%. This shift allows Tanita to reallocate valuable IT resources towards critical initiatives including cybersecurity and digital transformation. Tanita's switch underscores Rimini Street's reputation for providing reliable support while enabling companies to optimize their IT strategies for better operational efficiency.
Rimini Street (Nasdaq: RMNI) announces its participation in the 25th Annual Needham Growth Conference on January 12, 2023, at 1:30 p.m. ET.
CEO Seth A. Ravin, CFO Michael L. Perica, and VP of Investor Relations Dean Pohl will present virtually. The event can be watched live via a provided link, with a 90-day archive available post-event.
This participation highlights Rimini Street's position as a leading provider of enterprise software products and services, supporting organizations globally.
Rimini Street, Inc. (NASDAQ: RMNI) has secured a pivotal contract with Kooksoondang, a prominent Korean rice wine producer, transitioning from annual vendor support to Rimini Street for SAP ECC software management. This shift is aimed at enhancing support quality without vendor-forced upgrades for the next 15 years, while simultaneously reducing costs to funnel resources into strategic initiatives. Rimini Street provides a dedicated support engineer and guarantees a 10-minute response time for critical issues, ensuring operational stability as Kooksoondang invests in digital transformation projects.
Rimini Street, Inc. (Nasdaq: RMNI) announced that Officeworks successfully utilized Rimini Connect™ for Browsers to adapt its SAP systems post the retirement of Microsoft IE11. This solution enabled Officeworks to maintain critical CRM and customer support functionalities without a costly system upgrade. The partnership allowed Officeworks to avoid disruptions and continue its IT roadmap while ensuring browser compatibility. Daniel Benad from Rimini Street emphasized the importance of avoiding technology-driven operational issues.
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