App Supporter Rimini Street Posts Another Record Quarter
July 22, 2013 Dan Burger
Third-party maintenance and support contracts seem to be a good alternative for companies feeling the pointy stick from the likes of Oracle and SAP. The popularity of that choice is readily apparent. For instance, Rimini Street, a third-party provider, just announced another record-breaking second quarter, noting 57 new client transactions and a 165 percent increase in new sales.
This isn’t the first time Rimini has reported impressive increases in its business. It is the 13th consecutive quarter of financial gains.
Its total invoicing for the second quarter of 2013 totaled $15.7 million, which it pegs as a 64 percent increase over the same quarter in 2012.
Also during Q2, the company launched support for SAP BusinessObjects, acquired $15 million in financing that is earmarked for global expansion, and was recognized again as a top workplace in the San Francisco Bay Area. The workplace award is based on employee surveys conducted by WorkplaceDynamics, a research firm specializing in organizational health and employee engagement.
Rimini Street provides maintenance and support for enterprise software that includes SAP’s Business Suite and BusinessObjects software, plus Oracle’s Siebel, PeopleSoft, JD Edwards, E-Business Suite, Oracle Database and Hyperion software.
Overall the company claims more than 660 clients, including 75 of the Fortune 500 and 16 of the Global 100. It supports client operations in more than 70 countries.
Oracle’s JD Edwards ERP software brand known as “World,” which runs on the IBM i operating system as well as the older version of the OS known as OS/400, has an estimated 1,500 customers under contract. That makes Oracle one of the largest software vendors in the IBM i community.