State Library of Victoria Entrusts Its Oracle Software Support and Security to Rimini Street
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, has announced that the State Library of Victoria (“Library”), Australia’s oldest library, has entrusted the support and maintenance of its Oracle E-Business software to Rimini Street.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220622005792/en/
State Library of Victoria Entrusts Its Oracle Software Support and Security to Rimini Street (Photo: Business Wire)
Rimini Street is also providing the Library with its Advanced Database Security (ADS) and Advanced Application Middleware Security (AAMS) solutions, enabling an innovative approach to security that can block vulnerabilities in hours - unlike traditional and old vendor software patch models that can take months and significant testing costs to implement. Rimini Street’s cybersecurity solutions provide the Library with peace of mind that digital threats are being addressed.
“Our Finance team are very happy with the support and security that Rimini Street provides, which keeps our assets and our customers secure, and our finance services running,” said Bradley Vice, chief financial officer at the State Library of Victoria. “Rimini Street worked with our team to identify and provide solutions for the risks we face. The team enjoy the service we’re provided and are pleased with Rimini’s Street responsiveness and the security capability they provide.”
Disruptive Patching and Vendor Support Hinders Innovation
The State Library of Victoria is the oldest public library in Australia. With two million in-person visitors, and four million online visitors annually, it is one of the most frequented libraries in the world. The library collects items of historical significance to Victoria and the world, creating an archive which grows by 70,000 pieces each year. Its ‘Vision 2020’ redevelopment increased public access and the library has also grown its public online offerings, with the aim to be a leader in digital library developments.
Providing an outstanding and secure digital experience for their millions of visitors is a key priority for the library. The organization wanted to deliver enhancements to its offerings and move to more cloud-based services. However, it was paying for annual maintenance and support from the software vendor and did not believe that it was receiving the best value for money. Functional issues that needed to be addressed required outsourcing to external technicians, which was becoming expensive as the system aged and specialist capability becomes harder to find. Further, the rapid increase in digital visitors through the pandemic demanded an ability to respond rapidly to cyber threats and also required a strengthening of system controls. The library needed to ensure it remained protected to continue delivering its services, and system maintenance to patch software was proving to be disruptive to its operations.
The library began looking for ways to lower its costs to enable it to undertake more strategic initiatives while also looking for ways to limit the drain on resources required to regularly patch its system, address functional requirements and maintain security.
“Rimini Street provided an attractive proposal which stacked up favourably for what we needed,” said Vice. “The Rimini Street support team respond quickly which has allowed us to clear outstanding tickets and spend more resources on undertaking a number of other Library improvement projects.
“For example, in partnership with Rimini Street, we have developed functional enhancements and improved system controls, and we have also completed a proof of concept for an online invoicing management solution.”
Superior Support Frees Up Resources for New Strategic Initiatives
“Patches and upgrades require costly and time-consuming regression testing and downtime, and this level of disruption to fix a discovered security vulnerability simply leaves ERP customers exposed to attack,” said Daniel Benad, group vice president and regional general manager, Oceania, Rimini Street. “Large institutions such as the State Library of Victoria require fast solutions to vulnerabilities, and a more proactive approach is required to protect the database and application middleware than simply waiting for a code patch to be developed, tested and installed. Protecting with a virtual shield from the outside has proven to be a more effective security solution.”
Like all Rimini Street clients, the State Library of Victoria benefits from the company’s flexible, premium-level enterprise software support model, including its industry-leading Service Level Agreement of 10-minute response times for all critical Priority 1 cases. All clients are also assigned a Primary Support Engineer with an average of 20 years’ experience in the client’s enterprise software and backed by a team of functional and technical engineers.
About Rimini Street, Inc.
Rimini Street, Inc. (Nasdaq: RMNI) 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, nearly 4,700 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)
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 amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; the impact of our credit facility’s ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk, including uncertainty from the discontinuance of LIBOR and transition to any other interest rate benchmarks; 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 continuance of the pandemic; catastrophic events that disrupt our business or that of our current and prospective clients, including terrorism and geopolitical actions specific to an international region; 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 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 credit facility; our ability to maintain an effective system of internal control over financial reporting and our ability to remediate any identified material weaknesses in our internal controls; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take, or a failure by us to establish adequate reserves for tax events; 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) offerings, 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; our ability to attract and retain qualified personnel; uncertainty as to the long-term value of Rimini Street’s equity securities; the effects of seasonal trends on our results of operations, including the contract renewal cycles for vendor supplied software support and managed services; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats, protect the confidential information of our employees and clients and comply with privacy and data protection regulations; and those discussed under the headings “Risk Factors” and “Cautionary Note About Forward-Looking Statements” in Rimini Street’s Quarterly Report on Form 10-Q filed on May 4, 2022, 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.
© 2022 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.
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