Strong Demand from Oracle Licensees Fuels 57% Billings Growth for Rimini Street’s Oracle Support Services
Company more than doubles billings for JD Edwards, Oracle Database and Oracle Hyperion and also triples revenue for Oracle Database support
LAS VEGAS - October 27, 2015 - Rimini Street, Inc., the leading independent provider of enterprise software support services for SAP SE's (NYSE:SAP) Business Suite and BusinessObjects software and Oracle Corporation's (NYSE:ORCL) Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database, Oracle Middleware, Hyperion, Oracle Retail and Oracle Agile PLM software, today announced the continued year-over-year growth in Rimini Street support for Oracle products as reflected in billings and revenue. Billings increased by 57% across all Oracle products in the 12-month period ending September 30, 2015, compared to the prior 12-month period, led by strong adoption of Rimini Street independent support by Oracle licensees on a global basis. In particular, billings for the JD Edwards, Oracle Database and Hyperion product lines increased by 133%. Also, combined annual revenue for Rimini Street support for Oracle products grew by 40% in the same time period. This increase was propelled by the more than tripling of revenue for Rimini Street support of Oracle Database during the same 12-month period.
Continued Expansion of Oracle Product Line Portfolio
As part of its global business plan and strategy, Rimini Street continues to invest in the expansion of its Oracle product support coverage across a wide range of mission-critical enterprise software. Most recently, the Company announced the availability of maintenance and support services to cover Oracle Agile Product Lifecycle Management (PLM) products, and that it has already been successfully providing this support to companies.
Today, Rimini Street supports nine Oracle product lines and continues to experience rapid growth and global adoption across a broad range of industries, from midmarket and public sector organizations, to large complex Fortune 500 companies and multinationals.
Recent Survey Findings Reveal Oracle Licensees’ Top Challenges with Oracle Support
Rimini Street recently conducted its second annual global survey of Oracle licensees, which revealed the top challenges respondents face with Oracle annual support and maintenance inefficiencies. Upgrading to the latest release to resolve their support issue was the top challenge for licensees, followed by other time- and labor-intensive activities, including having to explain the same issue multiple times, reproducing the issue to prove its validity, finding a specific fix from a support pack bundle and being required to try all self-service options first.
Rimini Street launched operations 10 years ago with support for Siebel CRM, and has been focused on developing the most relevant, value-driven support solution that addresses many of the top challenges voiced by licensees surveyed in Rimini Street’s poll. This includes an assigned Primary Support Engineer (PSE) available 24x7x365, guaranteed response times of 30 minutes or less, as well as support for customizations at no additional cost and support for a guaranteed 15 years on existing software applications with no required upgrades. Clients who leverage Rimini Street’s premium-level support model are able to save up to 90 percent in total overall support costs and repurpose significant savings back into IT and other critical initiatives that make a major impact.
“Every CIO’s challenge is trying to do more with less. In the case of the American Cancer Society, every dollar that I can take back is a dollar that can go towards valuable life-saving research and initiatives,” said Jay Ferro, chief information officer, American Cancer Society. “So from a pure cost standpoint, our decision to move to Rimini Street was the right one to make. When you add in the breadth of support, the high quality of their support team and their responsiveness, it is clear that Rimini Street delivers better value.”
"The continued growth and momentum of our Oracle product line over the past 12 months is a direct result of the value our clients are experiencing with their switch to Rimini Street support," said Seth Ravin, Rimini Street CEO. "We have spent a decade investing in, developing and delivering an innovative, industry-leading support model that clients rely on for support of their mission-critical Oracle systems. Rimini Street remains committed to delivering the best value in the enterprise software support industry and continuing to help our clients achieve their IT and business goals."
About Rimini Street, Inc.
Rimini Street is the global leader in providing independent enterprise software support services. The company has redefined enterprise support services since 2005 with an innovative, award-winning program that enables Oracle and SAP licensees to save up to 90 percent on total support costs. Clients can remain on their current software release without any required upgrades for at least 15 years. Over 1,150 global, Fortune 500, midmarket, and public sector organizations from a broad range of industries have selected Rimini Street as their trusted, independent support provider. To learn more, please visit http://www.riministreet.com.
This press release may contain forward-looking statements. The words “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “plan,” “expect,” and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to risks and uncertainties, and are based on various assumptions. If the risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. Rimini Street assumes no obligation to update any forward-looking statements or information, which speak only as of the date of this press release.
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