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 awarded the 2021 Asia Pacific Best Practices Award for Third-Party Enterprise Software Support Services Company of the Year by leading research and consulting firm Frost & Sullivan. The recognition recognizes Rimini Street's commitment to help clients maximize returns on their enterprise software and technology investments to better enable innovation to drive competitive advantage and growth.
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Rimini Street Wins Frost & Sullivan Best Practices Award for Third-Party Enterprise Software Support Services Company of the Year (Graphic: Business Wire)
Award Honors Innovation in Client Service Excellence
The Frost & Sullivan Best Practices Award honors organizations and businesses in 14 major industries that exemplify visionary innovation, industry-leading performance and unrivaled customer care. Since 2001, the award has been recognizing companies that demonstrate leadership and excellence in meeting clients’ needs and developing products and services that provide the best quality and value in the market. Through a rigorous evaluation process, Frost & Sullivan's team of analysts identified nominees for each market sector and determined the award recipient based on stringent criteria, including the implementation of industry best practices, commitment to providing superior customer service, and the achievement of business growth targets.
According to Frost & Sullivan’s assessment, Rimini Street excelled in the criteria that apply to the third-party enterprise software support services industry. The firm also noted that Rimini Street outperformed competitors in its innovative, market-leading support services offering, which provides enhanced ownership experience and substantial operating cost savings for its clients. By replacing traditional vendor support, the company enables licensees of Oracle, SAP, IBM, Microsoft, and other enterprise software to save up to 90 percent on total software support costs.
In Asia Pacific, Rimini Street's growing customer base, which includes clients in Australia, China, PRC Hong Kong, India, Indonesia, Japan, Macau, Malaysia, New Zealand, Philippines, Singapore, South Korea, South Pacific, Taiwan, Thailand, and Vietnam, affirms the company's leadership and commitment to delivering exceptional support and significant cost savings to clients in the region and across the globe. To assist clients in the Asia Pacific region in navigating a more diverse database landscape, Rimini Street recently extended its unified support to open-source databases. In addition, Rimini Street's dedicated tax, legal and regulatory practice, made up of approximately 200 tax and finance professionals globally, assists clients of all sizes in keeping their enterprise software compliance up to date with rate, rule, policy and reporting changes.
"Through its premium support program comprising advanced features such as customization, interoperability, and performance tuning, Rimini Street helps businesses extract more value from their existing software investments. By extending the operating lifespan of a vendor’s enterprise software, the company empowers businesses to reduce operational costs and maximize return on investment. Its customer-centric commitment, best-in-class support, and ultra-responsive service has elevated the company’s position as the trusted partner for marquee clients across its expanding regional customer base. Rimini Street’s stellar financial performance in the region reflects its strategic focus and cements its leading position in the market," said Krishna Baidya, Director, ICT Practice, Frost & Sullivan.
“We are honored to be the recipient of Frost & Sullivan's Best Practices Award and be recognized for our industry-leading enterprise software support model,” said Seth A. Ravin, Rimini Street CEO. “Our mission is to provide extraordinary technology solutions powered by extraordinary people, which together help our clients achieve their strategic, operational and financial goals. This award, along with the trust that we receive from our clients in Asia Pacific and around the world, is a testament that we are fulfilling this mission and inspires us to continuously innovate and improve the quality of our services and solutions for the benefit of our valued 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.
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.
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