Rimini Street Granted U.S. Patent for its Artificial Intelligence-based Case Assignment Advisor

Rhea-AI Summary

Rimini Street (NASDAQ: RMNI) has been granted a patent by the USPTO for its innovative Case Assignment Advisor application, leading to a 23% improvement in client case resolution times. The technology integrates multiple data sources and uses machine learning to ensure optimal engineer assignments, enhancing client satisfaction to a 4.9 out of 5.0 rating. This achievement has garnered multiple industry awards, including the Gold 2021 Stevie American Business Award. The patent furthers Rimini Street's commitment to driving innovation in enterprise software support.

Positive

• Granted patent for Case Assignment Advisor enhances competitive positioning.
• Average case resolution times improved by 23%, indicating efficiency gains.
• Client satisfaction rating increased to 4.9 out of 5.0.

Negative

• None.

Proprietary, award-winning AI technology enables an average 23% improvement in client case resolution times and improves client system operations

LAS VEGAS--(BUSINESS WIRE)-- Rimini Street, Inc. (NASDAQ: RMNI), 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, today announced it has been granted a patent by the United States Patent and Trademark Office (USPTO) for its proprietary artificial intelligence (AI) based application, Case Assignment Advisor.

The Case Assignment Advisor resolves the challenge of identifying and assigning the best engineer(s) to work a particular case by:

• Integrating multiple data sources and capturing multi-dimensional engineer skills
• Applying machine learning algorithms to normalize and rank engineer skills
• Filtering the engineer pool based on the rules and constraints driven by business requirements
• Recommending the optimal engineer by analyzing more than 40 vectors (e.g., skills, experience, availability, time zone, language, case load, etc.)
• Providing additional business insights and predictions through deep analysis to further enrich auto case assignment.

The technology, which resides on the Rimini Street AI platform, empowers Rimini Street engineers to resolve cases much faster with ultra-responsive support and services. Since implementing Case Assignment Advisor, Rimini Street has improved case resolution times for clients by an average of 23% while increasing its overall client satisfaction score to an average case survey rating of 4.9 out of 5.0 (where 5.0 is “excellent”).

This innovative technology has garnered industry accolades, even before the patent was officially granted. Among the recognitions: A Gold 2021 Stevie American Business Award for Achievement in Science or Technology; a Stevie International Business Award for Achievement in Science or Technology; and a Grand Prize for Best Customer Support from the Japan Institute of Information Technology.

“Rimini Street Case Assignment Advisor is truly revolutionary technology and further disrupts the global enterprise software support industry,” said Brian Slepko, executive vice president of global service delivery, Rimini Street. “We are proud to be granted this patent because it delivers on two of Rimini Street's overarching goals: To drive innovation and deliver best-in-class service to our clients.”

About Rimini Street, Inc.

Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000^® Company, 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 4,400 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. (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 “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 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, the impact of our credit facility’s ongoing debt service obligations and financial covenants and operational covenants on our business and related interest rate risk, the duration of and operational and financial impacts on our business of the COVID-19 pandemic and related economic impact, as well as the actions taken by governmental authorities, clients or others in response to the COVID-19 pandemic; catastrophic events that disrupt our business or that of our 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; 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 initiatives; the sufficiency of our cash and cash equivalents to meet our liquidity requirements, including under our new credit facility; our ability to maintain an effective system of internal control over financial reporting, and our ability to remediate identified material weaknesses in our internal controls, including in relation to the accounting treatment of our warrants; changes in taxes, laws and regulations; competitive product and pricing activity; challenges of managing growth profitably; the customer adoption of our recently introduced products and services, including our 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 we expect to introduce in the 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 discussed under the heading “Risk Factors” in Rimini Street’s Quarterly Report on Form 10-Q filed on November 3, 2021, 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.

© 2021 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/20211214005531/en/

Vikki Hansen

Rimini Street, Inc.

+1 (708) 556-3185

vhansen@riministreet.com

Source: Rimini Street, Inc.

FAQ

What is the Case Assignment Advisor by Rimini Street?

The Case Assignment Advisor is a patented AI-based application that optimally assigns engineers to client cases, improving case resolution times.

How much has Rimini Street improved client case resolution times?

Rimini Street reported an average improvement of 23% in client case resolution times after implementing the Case Assignment Advisor.

What is Rimini Street's client satisfaction rating?

The client satisfaction rating for Rimini Street has reached an average of 4.9 out of 5.0.

What awards has Rimini Street received for its technology?

Rimini Street received several awards, including the Gold 2021 Stevie American Business Award for Achievement in Science or Technology.

What is Rimini Street's stock symbol?

Rimini Street is traded under the stock symbol RMNI on NASDAQ.