Rimini Street: Agentic AI ERP for Legacy Modernization

Rimini Street has unveiled a new strategy called "Agentic AI ERP." This expands the company beyond its traditional role in third-party enterprise software support. The company now aims to provide AI-enabled modernization for organizations using existing ERP systems. Dean Pohl, Rimini Street's vice president of treasury and investor relations, stated this reflects a shift to a broader technology and innovation partner. Rimini Street supports Oracle, SAP, and VMware environments. The company's "Rimini SmartPath" strategy moves from support to optimization and innovation. CFO Michael Perica notes that their support business, making up about 87% to 88% of operations, helps clients save on software vendor costs and avoid unnecessary upgrades. Perica says Rimini Street enables "self-funded innovation," offering 50% savings on day one and potentially 90% over time by helping clients avoid costly moves to software-as-a-service platforms. The company's offerings now include managed services, professional services, and new AI solutions, like Rimini Govern for AI. Rimini Street's historic addressable market was about $15 billion, but this has expanded by an additional $65 billion through broader software coverage. They aim to help organizations add AI capabilities to stable on-premises ERP systems. This could be important for businesses looking to modernize without full system migrations.