Rimini Street (RMNI) TD Cowen’s 53rd Annual Technology, Media & Telecom Conference 2025 summary

Value proposition and market positioning

• Offers third-party vendor replacement support, managed services, and custom solutions for large ERP systems, with a focus on cost savings and support for custom code.

• Delivers immediate and significant cost reductions, often half the vendor's maintenance cost, and supports custom code not covered by vendors.

• Enables clients to reallocate savings to innovation and next-generation technologies through new partnerships.

• Experiences increased inbound interest during economic uncertainty as organizations seek to optimize spending and avoid costly, low-ROI upgrades.

• Shifts from a direct selling model to developing an indirect channel with prominent enterprise software partners to boost brand awareness.

Industry trends and client opportunities

• SAP ECC end-of-life in 2027 is driving heightened client engagement and strategic planning discussions.

• Oracle claims perpetual support, but clients still face pressure to upgrade, creating opportunities for alternative support paths.

• Emphasizes the importance of optionality and educating clients on alternatives to vendor-driven roadmaps.

• Winding down PeopleSoft business, representing 7% of revenue, to focus on larger platforms; transition expected to take two to three years from initiation.

Strategic partnerships and innovation

• ServiceNow partnership enables clients to modernize enterprise assets without forced upgrades, leveraging the Now platform for enterprise-wide innovation.

• Rimini Street integrates ServiceNow with ERP systems, providing connectors and managed services to optimize and innovate on top of existing assets.

• Joint go-to-market efforts with ServiceNow target both existing and new clients, with meaningful revenue expected to begin next year.

• Professional services and managed services revenue streams are tied to connecting and managing the Now platform atop customized ERP installations.

• Retention rates are expected to improve as clients invest in innovation at the user layer while maintaining stable, supported core systems.