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Exam Code: 1Z0-148 Practice exam 2022 by Killexams.com team
1Z0-148 Oracle Database 12c: Advanced PL/SQL

Exam Title: Oracle Database: Advanced PL/SQL
Exam Number: 1Z0-148
Format: Multple Choice
Duration: 110
Number of Questions: 75
Passing Score: 62%

Designing PL/SQL Code
Identify guidelines for cursor design
Use cursor variables
Use DBMS_SQL functions
Create subtypes based on existing types
Working with Collections
Manipulate collections
Distinguish between the different types of collections and their uses
Use nested collections
Use collection of objects
Using Advanced Interface Methods
Execute external C programs from PL/SQL
Execute Java programs from PL/SQL
Improving Performance with Caching
Identify when to result cache a function
Handle session dependencies in a result cache function
Set up PL/SQL functions to use PL/SQL result caching
Invokers Right function result caching
Explain invalidation of cache results
Use the DBMS_RESULT_CACHE package
Profiling and Tracing PL/SQL Code
Trace PL/SQL program execution
Profile PL/SQL applications
Safeguarding Your Code Against SQL Injection Attacks
Explain SQL injection
Reduce attack surfaces
Use DBMS_ASSERT
Multidisciplinary
Items wherein concepts across multiple objectives will be tested in each item
Creating and Managing Collections
Create and manage nested tables
Create and manage varrays
Create and manage associative arrays/PLSQL tables
Manipulating Large Objects
Create and maintain LOB data types
Differentiate between internal and external LOBs
Use the DBMS_LOB PL/SQL package
Use of temporary LOBs
Describe and use SecureFile LOB
Tuning PL/SQL Performance
Use native and interpreted compilation methods
Optimize PL/SQL code
Enable intraunit inlining
Use DBMS_PARALLEL_EXECUTE package
Analyzing PL/SQL Code
Use the supplied packages and dictionary views to find coding information
Determine identifier types and usages with PL/Scope
Use the DBMS_METADATA package for creation DDL that can be used to re-create the objects
Use compile time warnings
Use conditional compilation
Implementing Fine-Grained Access Control for VPD
Explain the process of fine-grained access control
Build security policies
Edition-Based Redefinition
Use Edition-Based Redefinition

Oracle Database 12c: Advanced PL/SQL
Oracle Database resources
Killexams : Oracle Database resources - BingNews https://killexams.com/pass4sure/exam-detail/1Z0-148 Search results Killexams : Oracle Database resources - BingNews https://killexams.com/pass4sure/exam-detail/1Z0-148 https://killexams.com/exam_list/Oracle Killexams : New Oracle Database Platforms And Services Deliver Outstanding Cloud Benefits

Let’s talk about Oracle’s successful and expanding investment in cloud infrastructure. The company just celebrated its 45th anniversary, beat Wall Street’s estimated revenue in its fiscal fourth quarter, and showed its highest organic revenue growth rate in over a decade. The company is clearly doing a lot of things its customers like.

Front-and-center to Oracle’s success is Oracle Cloud Infrastructure (OCI) growth. Over the past year there has been a steady stream of OCI-related announcements. These have included plans to grow from 30 to 44 public cloud regions by the end of 2022 (39 are already in place), smaller Dedicated Region configurations, plans for Sovereign Clouds, new Cloud@Customer offerings, and expansions of OCI’s already impressive portfolio of services. This is perhaps the fastest expansion of cloud services by any service provider, and it helped drive Oracle’s 49% year-over-year IaaS growth and 108% growth in Exadata Cloud@Customer (Q4 FY22 earnings report).

And, if those aren't enough to make you consider OCI for your public cloud, what about the new Oracle Database Service for Microsoft Azure that Larry Ellison and Satya Nadella announced at Microsoft Inspire on July 20th? This new service allows Azure customers to choose where to run Oracle Database for their Azure applications. Azure users can easily set up and use Oracle databases running on optimized OCI infrastructure directly from Azure, without logging into OCI.

The Oracle Database Service for Microsoft Azure is an Oracle-managed service currently available in 11 pairs of OCI and Azure regions worldwide. It uses the existing OCI-Azure Interconnect to offer latency between the two clouds of less than 2 milliseconds over secure, private, high-speed networks. This means that developers and mission-critical applications running on Azure can directly access the performance, availability, and automation advantages of Oracle Autonomous Database Service, Exadata Database Service, and Base Database Service running on OCI.

Oracle’s growth numbers represent a great metric to measure its overall success. However, most IT architects and developers want to understand why Oracle's cloud offerings are better than the likes of Amazon Web Services (AWS) for their Oracle Database workloads.

The answer is simple. While Oracle is undoubtedly a strong competitor when matched head-to-head against nearly every public cloud offering, it offers clear advantages for Oracle Database applications. For example, organizations that use Oracle Database in their on-premises data center can more easily move workloads to OCI because it provides extreme levels of compatibility with on-premises installations and offers organizations the same or greater performance, scale, and availability. You won't find a better example of this than Oracle’s cloud-enabled Exadata X9M platform that’s available natively in OCI or for Azure users through Oracle Database Service for Microsoft Azure.

Last year, Oracle delivered what may be the fastest OLTP database machine with the Exadata X9M. This machine is engineered to do only one thing: run Autonomous Database Service and Exadata Database Service faster and more efficiently than anything else on the market, delivering up to 87% more performance than the previous generation platform.

Wringing every ounce of performance and reliability from a database machine such as Oracle Exadata requires thinking about system architecture from the ground up. It requires a deep knowledge of Oracle Database and the ability to optimize the entire hardware and software stack. This is a job that only Oracle can realistically take on.

Exadata X9M’s employs a flexible blend of scale-up and scale-out capabilities that support virtually any workload by separately scaling database compute and storage capabilities. Of particular note is how the Exadata X9M provides high performance for both transactional and analytics workloads and efficient database consolidation.

Let’s start with analytics. At the highest level, Exadata X9M enables fast analytics through parallelism and smart storage. Complex queries are automatically broken down into components that are distributed across smart Exadata storage servers. The storage servers then run low-level SQL and machine learning operations against their local data, returning only results to the database servers. This allows applications to use 100s of gigabytes to terabytes per second of throughput—something you won’t find on your typical cloud database.

For OLTP, Exadata X9M breaks out some additional secret sauce in the form of scalable database server clusters, persistent memory (PMem) in the smart storage servers, and remote direct memory access over converged Ethernet (RoCE) that links them together. Databases run across hundreds of vCPUs to provide high performance and availability and read data directly from shared PMEM on the storage servers. The end result is that Oracle Database achieves SQL read latencies from shared storage of under 19 microseconds, which is more than ten times faster than traditional flash storage.

However, Exadata X9M in OCI doesn’t forego the use of flash memory, it embraces it. Without applications having to do anything, Exadata storage servers automatically move data between terabytes of PMem, tens or hundreds of terabytes of NVMe 4.0 flash, and terabytes to petabytes of disk storage to provide the best performance for different types of workloads. This results in a level of performance that isn’t possible with a traditional on-premises or cloud architecture built using generic servers and storage.

Bringing X9M to the Cloud

There's no question that cloud resources are integral to nearly every enterprise's IT infrastructure. The cloud offers a flexible and scalable consumption model with economics that can be superior to traditional on-premises deployments. While cloud infrastructure can be easily scaled to meet many growing application needs, this is not necessarily true for databases that support mission-critical applications. It's common for organizations to have to refactor applications and redesign databases when they move to the cloud to provide the same levels of performance and availability they had premises, such as when moving Oracle Database to AWS. However, by deploying Exadata X9M in OCI, Oracle eliminates the expensive and time-consuming need to refactor applications for the cloud.

Oracle Exadata X9M in OCI shines for enterprise applications by delivering an elastic cloud database experience. For example, when running Autonomous Database Service or Exadata Database Service on dedicated X9M infrastructure in OCI, you can use 2 to 32 database servers and 3 to 64 smart storage servers in any combination. This means you can deploy platforms with more database servers for heavy OLTP workloads, more storage servers for data warehouses, or an even mixture of each when consolidating both types of workloads.

You can get the raw numbers for CPUs, storage, and memory for Exadata X9M in OCI from the Oracle website. Still, the critical thing to know is that all configurations deliver the database capabilities that enterprises require. For instance, the “entry” Exadata X9M configuration in OCI supports 19 microsecond SQL Read IO latency, 5.6 M SQL Read IOPS, and 135 GB/second of analytics throughput. Furthermore, with the ability to scale database servers by 16x and storage servers by 21x, we expect that no organizations will run into performance limitations.

Oracle tells us that by putting Exadata X9M into OCI, it now delivers the world's fastest OLTP cloud database performance, and they have the data to back it up. Latency is critical for OLTP workloads, an area where the X9M has no equal. Exadata X9M’s 19 microsecond SQL IO latency is 25x better than when running Oracle Database on AWS Relational Database Service (RDS). The analytics throughput numbers from shared storage are even more impressive, with Oracle claiming that Exadata X9M in OCI delivers up to 384x the analytics throughput of Oracle Database running on AWS RDS.

Oracle has conquered the performance challenges for OLTP and analytics in the cloud and delivers this level of performance with attractive economics. Oracle makes the Exadata X9M for OCI available with a true consumption-based model where you only pay for the size of platform you need and the consumption you use. One key feature of Oracle Autonomous Database running on Exadata X9M is that it can auto-scale consumption by 3x based on the demands of the queries executing at every point in time. This helps you meet peak requirements by scaling up database consumption when needs grow and minimizes costs by scaling it back down later. Oracle cites global customers using these scaling capabilities to economically meet seasonal demands for retail companies and end-of-quarter financial closes for any business.

Analyst Take

Running business workloads in the cloud is popular and continues growing at impressive rates because it solves practical problems for IT practitioners and business users. However, generic cloud infrastructure hasn’t delivered the same level of performance and availability for mission-critical OLTP and analytics workloads that many customers achieved with on-premises platforms.

If your enterprise depends on Oracle Database technology—and 97% of the Global Fortune 100 companies use Oracle Database, with 88% relying on Oracle Exadata for business-critical workloads—you need to seriously consider running your cloud database workloads on Exadata X9M in OCI. Oracle's expanding portfolio of OCI services and delivery platforms, coupled with its unique ability to integrate optimized database platforms like Exadata X9M into OCI redefines what it means to run mission-critical databases in the cloud.

The Exadata X9M is built by the same people who build the Oracle Database, best positioning Oracle to optimize the performance, reliability, and automation required to get the most out of Oracle Database in the cloud. Oracle Exadata X9M is a stellar piece of engineering, bringing together compute and storage in an optimized architecture that delivers levels of throughput and reliability that deserve the superlatives I'm throwing around. And, it's not just me saying it; Oracle's momentum in the cloud bears this out as customers continue to make Exadata their preferred option to run Oracle Database.

When combined with the new Oracle Database Service for Microsoft Azure, Exadata X9M in OCI should cause organizations to rethink strategies focused on using generic cloud infrastructure for critical database applications.

Note: Moor Insights & Strategy writers and editors may have contributed to this article.

Moor Insights & Strategy, like all research and tech industry analyst firms, provides or has provided paid services to technology companies. These services include research, analysis, advising, consulting, benchmarking, acquisition matchmaking, and speaking sponsorships. The company has had or currently has paid business relationships with 8×8, Accenture, A10 Networks, Advanced Micro Devices, Amazon, Amazon Web Services, Ambient Scientific, Anuta Networks, Applied Brain Research, Applied Micro, Apstra, Arm, Aruba Networks (now HPE), Atom Computing, AT&T, Aura, Automation Anywhere, AWS, A-10 Strategies, Bitfusion, Blaize, Box, Broadcom, C3.AI, Calix, Campfire, Cisco Systems, Clear Software, Cloudera, Clumio, Cognitive Systems, CompuCom, Cradlepoint, CyberArk, Dell, Dell EMC, Dell Technologies, Diablo Technologies, Dialogue Group, Digital Optics, Dreamium Labs, D-Wave, Echelon, Ericsson, Extreme Networks, Five9, Flex, Foundries.io, Foxconn, Frame (now VMware), Fujitsu, Gen Z Consortium, Glue Networks, GlobalFoundries, Revolve (now Google), Google Cloud, Graphcore, Groq, Hiregenics, Hotwire Global, HP Inc., Hewlett Packard Enterprise, Honeywell, Huawei Technologies, IBM, Infinidat, Infosys, Inseego, IonQ, IonVR, Inseego, Infosys, Infiot, Intel, Interdigital, Jabil Circuit, Keysight, Konica Minolta, Lattice Semiconductor, Lenovo, Linux Foundation, Lightbits Labs, LogicMonitor, Luminar, MapBox, Marvell Technology, Mavenir, Marseille Inc, Mayfair Equity, Meraki (Cisco), Merck KGaA, Mesophere, Micron Technology, Microsoft, MiTEL, Mojo Networks, MongoDB, MulteFire Alliance, National Instruments, Neat, NetApp, Nightwatch, NOKIA (Alcatel-Lucent), Nortek, Novumind, NVIDIA, Nutanix, Nuvia (now Qualcomm), onsemi, ONUG, OpenStack Foundation, Oracle, Palo Alto Networks, Panasas, Peraso, Pexip, Pixelworks, Plume Design, PlusAI, Poly (formerly Plantronics), Portworx, Pure Storage, Qualcomm, Quantinuum, Rackspace, Rambus, Rayvolt E-Bikes, Red Hat, Renesas, Residio, Samsung Electronics, Samsung Semi, SAP, SAS, Scale Computing, Schneider Electric, SiFive, Silver Peak (now Aruba-HPE), SkyWorks, SONY Optical Storage, Splunk, Springpath (now Cisco), Spirent, Splunk, Sprint (now T-Mobile), Stratus Technologies, Symantec, Synaptics, Syniverse, Synopsys,Tanium, Telesign,TE Connectivity, TensTorrent, Tobii Technology, Teradata,T-Mobile, Treasure Data, Twitter, Unity Technologies, UiPath, Verizon Communications, VAST Data, Ventana Micro Systems, Vidyo, VMware, Wave Computing, Wellsmith, Xilinx, Zayo, Zebra, Zededa, Zendesk, Zoho, Zoom, and Zscaler. Moor Insights & Strategy founder, CEO, and Chief Analyst Patrick Moorhead is an investor in dMY Technology Group Inc. VI, Dreamium Labs, Groq, Luminar Technologies, MemryX, and Movandi.

Mon, 01 Aug 2022 01:01:00 -0500 Steve McDowell en text/html https://www.forbes.com/sites/moorinsights/2022/08/01/new-oracle-database-platforms-and-services-deliver-outstanding-cloud-benefits/
Killexams : Customers to cloud providers: We want bridges, not walls
By Leo Leung, Vice President, Product Management, Oracle Cloud Infrastructure

In the new era of cloud computing, customers want to use their preferred cloud services regardless of provider and be assured those services will work together. In addition, they want to continue to rely on familiar management and monitoring consoles so they don’t have to learn new skills to maintain productivity.

This multicloud mandate is why Oracle and Microsoft have worked together to forge cloud service interoperability across Oracle Cloud Infrastructure (OCI) and Microsoft Azure with the new Oracle Database Service for Microsoft Azure. Available now, this service allows the many customers served by both companies to use popular Microsoft Azure-based services that tap into OCI database services in a secure and expeditious way. 

Oracle and Microsoft agree that making it easier for customers to keep running their cloud services of choice—regardless of provenance—is important since we want those customers to be happy (and to remain customers).

The new Oracle Database Service for Microsoft Azure lets Azure customers manage database operations from their familiar Azure interface while taking full advantage of the speed and power of Oracle databases. Customers don’t have to know or care that the databases themselves are running on OCI since they will not experience any latency, thanks to the careful infrastructure groundwork the two companies have already put in place (more on that below.) Practically, this means that businesses can bring Microsoft Power BI business analytics, Microsoft Azure Synapse big data analytics, or other applications to bear on data running in Oracle Autonomous Database or Oracle Exadata Database Service.

This new service counters the notion, peddled for years by some vendors, that customers can’t successfully run workloads across clouds. On the contrary, this service gives customers the freedom to keep using the services they prefer on data running in another cloud. 

Also important: this new service automates the network and security configuration processes that customers up until now had to do perform manually. And they can easily provision Oracle databases, and the metrics and logs are automatically sent to their Azure App Insights and Log Analytics dashboards – just like the rest of their Azure resources.

What makes Oracle Database Service for Microsoft Azure possible is the path Oracle and Microsoft started paving three years ago with Oracle Interconnect for Azure, which provides a secure, private link between the two clouds in regions around the world. The interconnect supports data transmission, queries, API calls, and other interactions between the two clouds with under two milliseconds of latency, allowing joint customers to securely run Microsoft services against data stored in Oracle databases without any loss in efficiency. 

Multicloud projects like these will become the way forward as business customers seek to move more of their key IT to the cloud without losing the valuable features and functions that are running their operations on-premises.  

It’s easy to see why tech providers want the biggest possible chunk of a customer’s IT budget. That’s why many have built walled gardens of technologies for every possible requirement to keep customers from wandering. 

But customers don’t really care about vendor go-to-market strategies—they just want to run the best services for their workloads, and they want those distributed services to work together. That’s why Oracle and Microsoft will continue to facilitate cross-cloud collaboration going forward.  

The goal is to ensure that customer workloads work well on-premises, in the cloud, and across different clouds. The Oracle Interconnect for Azure and new database service proves that operating workloads across clouds is not only possible, but in fact very productive. 

Mon, 01 Aug 2022 07:17:00 -0500 en-US text/html https://techcrunch.com/sponsor/oracle/customers-to-cloud-providers-we-want-bridges-not-walls/
Killexams : Oracle cofounder Larry Ellison says he wants to transform healthcare. First his company will have to tackle a billion-dollar mess.
  • Oracle in June purchased Cerner, a medical-records giant, for about $28 billion.
  • The US Department of Veterans Affairs tapped Cerner in 2018 to overhaul its information systems.
  • Long-standing issues with the technology and the cost of the project just became Oracle's problem.

In June, Larry Ellison, Oracle's chairman, chief technology officer, and cofounder, joined a growing list of billionaires to make lofty promises about transforming healthcare in the US.

The software giant bought the medical-records company Cerner for about $28 billion to dramatically expand its healthcare portfolio.

Shortly after the deal closed in June, Ellison laid out a vision for how the two companies could build a "revolutionary" health-information system in the cloud, creating a way for providers and public-health officials to access patient data from across organizations.

That's a dreamy departure from today, where a person can show up to an emergency room that has no available record of their blood type.

"We're going to solve this problem," Ellison said at a company event.

At $4.1 trillion — or $12,530 worth of spending per American in 2020 — the US healthcare industry is an attractive target for companies that have transformed other sectors and need new ways to grow. Amazon just made its third-largest acquisition to buy a primary-care startup, and experts have speculated it could be used to build a Prime-like offering for people to manage their health.

But after years of pivots and flops, some of Big Tech's projects in healthcare are looking more modest. Last August, Cerner hired Dr. David Feinberg from Google, which had assembled and disassembled a whole health-related product area in three years.

Oracle isn't new to health. But it's a big undertaking to fix the lack of a shared technology infrastructure for US health records, and Ellison's statements will be tough to live up to.

One issue — how well Oracle can navigate a complicated project with the US Department of Veterans Affairs — will be its most visible test.

Oracle's first major test in healthcare is public and messy

The VA is the nation's largest health system, caring for more than 9 million veterans at more than 1,200 healthcare facilities each year. In 2018 it signed a contract with Cerner to replace its 40-year-old electronic medical records. Cerner had already made about $2.8 billion from the project as of April, according to the US Senate Committee on Veterans' Affairs.

But delays and technical issues have plagued the VA's rollout of Cerner's technology. The VA initially won a $10 billion budget to pay Cerner with, but cost estimates have rocketed far beyond that sum such that Congress passed a bill to increase scrutiny of the program.

Citing a study set to be published by the Institute for Defense Analyses, Sen. Jon Tester said in a congressional hearing on July 20 that the lifetime cost of the deployment, upkeep, and other measures would be $50.8 billion over 28 years. The hearing was Oracle's first about the VA contract since acquiring Cerner.

It's unclear to what extent Oracle will use the VA's $10 billion budget to implement fixes and upgrades and how much of the cost Oracle will eat.

"Right now the new EHR is not getting her done," Tester said in the hearing, referring to the electronic-health-records system. He added, "I really do hope that the acquisition by Oracle is going to be a game-changer."

The VA rollout has involved patient harm, shutdowns, and glitches

Oracle has set its sights on using its cloud assets to Improve the flow of health information. The company has said it plans to create a unified national health-records database "on top of" hospitals' individual data reams. Oracle also wants to make the records themselves more useful with voice-based search and similar tools.

"That is now our primary mission here at Oracle," Ellison said.

Before 2018, the VA was identifying some of the same problems Ellison said he wanted to fix. The Department of Defense provides medical care to troops until they become veterans, at which point the VA takes over. One goal of the VA's upgrade was to deliver providers at both organizations a way to see those patients' records digitally.

But VA officials have said this goal, among others, has suffered as the Cerner rollout has dragged on. The Office of Inspector General overseeing the VA has issued more than 10 reports about several issues and more than 60 recommended fixes, a handful of which are two years old and still haven't been implemented, frustrating lawmakers.

Crashes and slowdowns of Cerner's technology have caused VA staffers to switch to pen and paper. Providers have struggled to learn the new system, leading the VA to implement more training. And a quirk of the Cerner record has sent physicians' medical orders in Spokane, Washington, to an unmanned inbox, leading to delays in care.

One of the reports described a case in which a psychiatrist's order to schedule a follow-up appointment for a patient without a home was lost in the queue. The report said the patient, who was at risk of suicide, called a crisis line four weeks later about a plan to self-harm, then was hospitalized.

The first VA facility launched Cerner's technology in October 2020, and four more have followed, but no further deployments are planned for 2022 while the VA assesses these issues. Dr. Terry Adirim, who's leading the records project for the VA, said in the hearing that there's concern about what would happen in larger, complex medical centers that perform surgeries and have intensive-care units.

Oracle is pouring resources into the VA issues

To face the music on Capitol Hill, Oracle sent Mike Sicilia, an executive vice president who's leading the Cerner acquisition.

"In my latest meetings with many of you and other congressional stakeholders, your frustration with the current situation was clear," Sicilia said.

The executive said that this was Oracle's first priority and that it had already shifted its top talent, including senior engineers, to work on the VA and Defense Department's EHR system. He said Oracle's main strategy to remedy bugs and cut costs is to move the Cerner application to a modern cloud data center within nine months, if it gets permission from the government to do so.

Oracle did not respond to Insider's request to say more about how that would work, but Sicilia said the migration would come at no additional expense to taxpayers.

Asked whether Oracle knew about the magnitude of these challenges, Sicilia, nearly smiling, said there are always things you discover after the fact.

"We certainly had read things that were publicly disclosed," he said. "But there's nothing like owning something to fully understand what's going on."

Thu, 28 Jul 2022 02:10:00 -0500 en-US text/html https://www.businessinsider.com/oracle-cerner-va-issues-larry-ellison-2022-7
Killexams : Oracle has started laying off more US employees this week, sources confirmed No result found, try new keyword!Oracle has started cutting workers as part of a larger plan to reduce its head count by thousands and save $1 billion in costs, according to reports. Mon, 01 Aug 2022 06:46:43 -0500 en-us text/html https://www.msn.com/EN-US/news/companies/oracle-has-started-laying-off-more-us-employees-this-week-sources-confirmed/ar-AA10bGnx Killexams : Lotte Mart Chooses Rimini Street Support Services for its Oracle Applications

LAS VEGAS--(BUSINESS WIRE)--Aug 2, 2022--

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, today announced that Lotte Mart, a large-scale hypermarket chain in South Korea, has switched to Rimini Street as its Oracle application maintenance support services provider. Lotte Mart wanted to focus resources on strategic projects related to business growth and needed more practical ERP support to better manage its rapidly changing distribution business. Based on the high quality of service provided, Lotte Mart chose Rimini Street to optimize its support services.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220802005326/en/

Lotte Mart Chooses Rimini Street Support Services for its Oracle Applications (Photo: Business Wire)

Comprehensive Support Helps Increase Efficiency of IT Teams

Lotte Mart’s first store opened its doors in 1998 in Kangbyeon and has expanded to 175 stores in Korea and abroad. The company relies upon a customized mass-scale Oracle database to manage its retail stores, distribution and logistics. Oracle support costs for the database absorbed significant portion of the IT budget.

“Rimini Street has made a detailed analysis of Lotte Mart’s current situation including the necessity to cut cost and services issues with the software vendor’s support program and has instead provided a tailored support service that better meets our needs,” said Jung-soo Pyo, department leader of System Strategy, Lotte Mart.

The satisfaction level of its IT employees increased dramatically after the switch to Rimini Street as the Company responded and provided faster solutions faster. Like other Rimini Street support clients, Lotte Mart is assigned a local Primary Support Engineer, with an average of 20 years of experience working with enterprise software and backed by a team of functional and technical engineers. The company also benefits from Rimini Street’s ultra-responsive service level agreement of 10-minute response times for P1 critical cases.

“After the switch to Rimini Street, we have been able to break free from vendor-oriented service policies and focus on business-oriented services,” said Pyo. “Work efficiency of IT services have been maximized with a swifter response and support to issues when requested.”

Having optimized its performance, Lotte Mart plans to focus its IT staff and realized savings towards future investments on transformative initiatives and projects to drive business innovation. To better support the IT roadmap, Lotte Mart is reviewing plans to adopt Rimini Street to support additional areas of the business and is contemplating its adoption across the entire Lotte Group.

“Lotte Mart has been able to enhance digital competitiveness, break free from the vendor’s upgrade cycle and take back control over its IT roadmap after the switch to Rimini Street Support Services,” said Hyungwook Kevin Kim, regional general manager, Korea, Rimini Street. “Rimini Street’s award-winning services powered by our patented AI technology have helped thousands of companies across the globe to significantly cut enterprise software maintenance costs, and with the funds they’ve saved, solve short-term budget problems and invest in digital transformation initiatives that drive competitiveness and growth.”

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)

Forward-Looking Statements

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 real 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 real 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20220802005326/en/

CONTACT: Jeff Spicer

Rimini Street, Inc.

+1 (415) 297-6488

pr@riministreet.com

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INDUSTRY KEYWORD: DATA MANAGEMENT RETAIL TECHNOLOGY SUPERMARKET SOFTWARE INTERNET

SOURCE: Rimini Street, Inc.

Copyright Business Wire 2022.

PUB: 08/02/2022 12:00 PM/DISC: 08/02/2022 12:02 PM

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Killexams : Oracle’s India cloud unit targets triple-digit growth in next few years
Oracle Cloud Infrastructure's (OCI) India unit is targeting to grow in triple digits for the next couple of years, on the back of the country’s economic growth and increasing spending of the middle-class on technology, top executives said.

It is also betting big on the financial sector as well as government projects to drive this growth.

“The Indian economy is forecast to expand nearly 8% this year. It is by far above every other economy in the world. If you factor in the size of the economy and also the growth of the middle class, it's getting wealthier,” said Garrett Ilg, president of Japan and Asia Pacific at Oracle.


This comes as Oracle’s India business has been a strong growth engine for the company – with the OCI unit clocking over 100% growth for the third year in succession and the software-as-a-services (SaaS) business also more than doubling for each of the last two years.

Ilg said the number is not an aberration and is sustainable for the next two years. “It (growth) is absolutely because (of) the momentum that is happening in the Indian market,” he told ET on the sidelines of the Oracle India Partner Forum event.

The company views small and medium enterprises, including startups, using its NetSuite, enterprise resource planning, human capital management and data analytics products.

Discover the stories of your interest


The Texas, US-headquartered company identifies the financial sector, due to its competitive landscape, customer base and matured micro payments systems, as a huge opportunity for growth, along with the public sector due to the push to reduce costs and extend efficient services.

Strategic growth area
The tech giant said the public sector and government business was a strategic area for its growth in India.

It has worked in the Niti Aayog's aspirational districts programme of monitoring 112 most under-developed districts in the country and the Income Tax Department has been using the Oracle Marketing Cloud solutions to reach out to taxpayers and to create awareness.

“We are seeing government projects as a strategic area for us and will continue to invest there. Initiatives such as the Diksha programme for e-learning and Open Network for Digital Commerce (ONDC) will be game changers,” said Shailender Kumar, senior vice president and regional managing director, Oracle India.

Shailender Kumar

Within the ONDC, it is working on the secured logistics digital exchange (SLDE) that integrates buyers, sellers, banks and logistic players.

The company is adding a dedicated team to manage SaaS solutions for public sector business, said Kumar.

Oracle recently closed a large project from Uttar Pradesh Power Corporation and is in discussions with state governments such as in Odisha, West Bengal, Haryana and Maharashtra for public sector projects.

Will gain market share
Oracle said it changed the approach to a subscription-based and consumption-based model from chasing big deals with big discounts. It expects this to help close the market share gap with rivals.

“Oracle has modified the cloud market with our focus on consumption. We are actually looking for companies that know what they need now and then they can subscribe to more later. We don't want customers to buy big just to get a discount,” Ilg said.

According to Synergy Research Group, Amazon’s AWS, Microsoft Azure and Google Cloud are three top players in the market as of December 2021 – with a market share of 33%, 21% and 10%, respectively.

The change to subscription-based business model along with its partnership with Microsoft Azure for multi-cloud capabilities and strong security layer in OCI Gen 2 model are “big differentiators” that the Oracle executives said would help the company gain market share.

Last month, Oracle and Microsoft announced the availability of Oracle Database Service for Microsoft Azure. With this new offering, Microsoft Azure customers can access and monitor Oracle Database services in OCI.

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Killexams : Rimini Street, Inc. (RMNI) CEO Seth Ravin on Q2 2022 Results - Earnings Call Transcript

Rimini Street, Inc. (NASDAQ:RMNI) Q2 2022 Earnings Conference Call August 3, 2022 5:00 PM ET

Company Participants

Dean Pohl - VP, IR

Seth Ravin - Founder, Chairman & CEO

Michael Perica - EVP, CFO & Principal Accounting Officer

Conference Call Participants

Andrew Sherman - Cowen and Company

Brian Kinstlinger - Alliance Global Partners

Jeff Van Rhee - Craig-Hallum

Operator

Good afternoon, ladies and gentlemen, and welcome to the Rimini Street's Earnings Conference Call. [Operator Instructions].

I will now turn the call over to Dean Pohl, Vice President, Investor Relations. Mr. Pohl, you may begin.

Dean Pohl

Thank you, operator. I'd like to welcome everyone to Rimini Street's second quarter 2022 earnings conference call. On the call with me today is Seth Ravin, our CEO; and Michael Perica, our CFO. Today, we issued our earnings press release for the second quarter ended June 30, 2022, a copy of which can be found on our website under Investor Relations. A reconciliation of GAAP to non-GAAP financial measures has been provided in the table following the financial statements in the press release. An explanation of these measures and why we believe they are meaningful is also included in the press release under the heading about non-GAAP financial measures and certain key metrics.

As a reminder, today's discussion will include forward-looking statements that reflect our current outlook. These forward-looking statements are subject to risks and uncertainties that may cause real results to differ materially from statements made today. We encourage you to review our most latest SEC filings, including our Form 10-Q filed today for a discussion of risks that may affect our future results or stock price. Now before taking questions, we'll begin with prepared remarks.

With that, I'd like to turn the call over to Seth.

Seth Ravin

Thank you, Dean, and thank you, everyone, for joining us today. Q2 2022 results. For the second quarter, we had many positive financial and operational achievements, including strong subscription renewals and extensions, increased cross-sales of our expanded solution portfolio to existing clients and we maintained our excellent industry-leading client satisfaction rating of more than 4.9 out of 5.0 per cases in onboarding. We achieved record revenue of $101.2 million, up 10.5% year-over-year and above the high end of our guidance range.

We also achieved a record revenue retention rate of 95% on subscription revenue and increased gross margin to 63.1%, up from 62.2% year-over-year. We continued to see sales growth in our newer application management services, professional services, interoperability, monitoring and security services and we believe our unique client experience, a very high client satisfaction rating will drive increased loyalty, improved retention rates and higher cross-sales to existing clients over time.

However, in line with other companies, we faced global macro environment and currency exchange rate headwinds that impacted quarter results. We believe that the macro environment will ultimately benefit our business after organizations complete a replanning adjustment cycle and we're addressing it and other opportunities with changes that include my return to oversee global revenue operations to reaccelerate growth.

Since Rimini Street's inception in 2005, we've signed over 4,800 clients, including over 180 Fortune 500 and Fortune Global 100 companies and estimate that we have saved our clients more than $6 billion that they were able to reinvest in their businesses. We ended the second quarter with 2,905 active clients, a year-over-year increase of 9.8%. In addition, despite the labor challenges affecting many organizations globally, we were successful in expanding our global workforce by 17.9% year-over-year, ending the quarter with over 1,834 employees.

Demand and sales execution. We continue to see strong and growing demand for our expanded portfolio of services. Globally, companies facing impact to profits caused by continuing post-pandemic supply chain challenges, global macro challenges, including war, sanctions, trade disputes, deglobalization, inflation, rising interest rates and currency exchange rate movements. These macro shocks were originally believed to be short-term impacts but are now being viewed as likely multi-year headwinds that are forcing organizations to replan their businesses, including their IT investment plans.

The replanning phase has frozen many investment decisions. Frozen IT decisions impacted the market as a whole during the second quarter as reflected in extended and delayed IT sales cycles for many companies, including Rimini Street. However, as previously noted, we believe that once organizations complete their replanning process, Rimini Street is well positioned to ultimately benefit from this macro environment with growth in new client acquisitions.

Rimini Street's portfolio of IT solutions provides the services many organizations need around their enterprise software systems and provides industry-leading value, ROI and proven engineering capability. Our existing clients' renewed subscription is at a strong pace as they leverage Rimini Street as their trusted vendor to support, run, secure and drive more value out of their existing stable systems. Rimini Street is also helping them overcome labor challenges and focus their limited resources on strategic investments and key initiatives or to preserve cash. Accordingly, with both new client acquisitions and existing client cross sales, we continue to see a strong opportunity to expand our portfolio of enterprise software solutions and continue building and maturing our go-to-market capability to launch, sell and deliver our full solutions portfolio to new and existing clients globally.

To achieve our goals, I am now dedicating a majority of my time to maturing our service offerings, delivering innovative new marketing and improving global sales execution. I was recently meeting with prospects and clients across North America and traveled to Japan, Malaysia, Singapore, the U.K. and France. We have seen positive responses to our new television ads and seeing better-than-expected attendance at our Street Smart Client events around the world. In Japan, for example, we were very pleased to see nearly 150 executives attend our thought leadership event in person, demonstrating the value of the discussions, content and our service offerings.

Client case studies. To highlight how clients are leveraging Rimini Street services globally to achieve their strategic goals across different industries, I'd like to share 2 case studies from the second quarter. First, the State Library of Victoria, Australia's oldest library. They trusted Rimini Street for support of their Oracle E-business and Oracle database software. Rimini Street is also providing the library with its advanced database security and advanced application with our security solutions; 2 solutions and its Rimini Protect suite of security products. These solutions provide an innovative approach to security that can block vulnerabilities before an attack or close an attack vector within hours, unlike traditional and old vendor software patch models that can take days, weeks, months or years to receive a patch and require significant testing time and cost to implement.

Rimini Street's cybersecurity solutions provides the library with peace of mind that digital threats are being addressed. Chief Financial Officer, Bradley Vice noted that his finance team are very happy with the support and security that Rimini Street provides, which keeps their assets and their customers secure and their finance services running. He further noted that Rimini Street worked with his team to identify and provide solutions for the risks they face and that the team enjoys the services they are receiving. Pleased with Rimini Street's responsiveness and the security capability we provide.

Next is Labeyrie Fine Foods based in France, who is a leading fine foods retailer with facilities in 48 countries. Labeyrie switched its Oracle JD Edwards and Oracle Database Support to Rimini Street. With 80 application modules connected to the Oracle ecosystem, Labeyrie processes more than 500,000 batches of orders nightly. Maintaining the system became challenging after the software vendor ended full support for this mission-critical system. Labeyrie sought a solution to provide the mission-critical support they needed and create more value for the organization while simultaneously reducing costs.

Labeyrie's CIO, Louis Goffaux, stated that in addition to supporting their ERP system, Rimini Street's experts provide guidance on potential changes to how they use the platform. And that the monthly and quarterly meetings with the Rimini Street are extremely worthwhile, exactly the type of close all-around support they were looking for. He goes on to note that Rimini Street provides an efficient, agile service at half the price they were previously paying the software vendor. Given their digital transformation goals and financial constraints, Labeyrie believes Rimini Street is a perfect fit for their needs.

Oracle litigation update. Rimini Street and Oracle have been in litigation for more than 12 years. While the U.S. courts have confirmed long ago the third-party support is legal, we presently have 2 active proceedings with Oracle; the injunction compliance dispute and Rimini II proceedings, both of which relate to the manner in which Rimini Street provides support services for certain Oracle product lines. Rimini Street is not prohibited from providing support or services for any Oracle products.

With respect to the injunction compliance dispute, Rimini Street has filed an appeal to the Ninth Circuit of the United States Court of Appeals relating to certain rulings of the U.S. District Court. We expect the appeals process to take another 9 months to a year to receive a ruling, but a ruling could come earlier or later. With respect to Rimini II, the case Rimini Street filed against Oracle in 2014, the case remains in a 3 trial stage. Currently, the Rimini II trial is scheduled to begin on October 31, 2022 in Las Vegas, Nevada. Please see our disclosures in the latest 10-Q filing for additional information on Oracle litigation.

Summary. We continue focusing on revenue reacceleration, exercising disciplined cash generation and management, driving shareholder value and bringing our litigation with Oracle to a successful conclusion.

Now over to you, Michael.

Michael Perica

Thank you, Seth, and good afternoon, everyone. Q2 2022 results. Revenue for the second quarter was $101.2 million, a year-over-year increase of 10.5%. Annualized recurring revenue was $396.7 million, a year-over-year increase of 9.6%. Revenue retention rate for service subscriptions, which makes up 98% of our revenue was 95% with more than 80% of subscription revenue noncancelable for at least 12 months. For the second quarter, clients within the United States represented 53% of total revenue, while international clients contributed 27%.

Second quarter aggregate year-over-year revenue growth in the United States was 8.8%, while growth for international clients was 12.5%. We note that the U.S. revenue growth has continued to Improve over the last 4 quarters, improving from the 2021 second quarter year-over-year growth rate of more than 2% to the current year's second quarter year-over-year growth rate of 8.8%. We also note that our total revenue growth was negatively impacted by FX movements of approximately 1%.

Billings for the second quarter were $101.6 million compared to $107.3 million year-over-year, a decrease of 5.3%. New client invoicing was challenging, as Seth noted. A negative FX movement adjusted down deal size in U.S. dollar terms, but we achieved strong client renewals and cross sales with existing clients. Gross margin was 63.1% of revenue for the second quarter compared to 62.2% of revenue for the prior year second quarter and 63.7% of revenue on a non-GAAP basis, which excludes stock-based compensation expense compared to non-GAAP gross margin of 62.6% of revenue in the second quarter of last year.

We executed well in our service delivery and continue to methodically expand efficiencies and leverage through technology and process control. We expect to continue investing in the global service delivery capability and capacity for our new products, services and solutions to ensure we can deliver our best-in-class offerings with unparalleled client satisfaction. Therefore, for full year 2022, we continue to guide gross margin to be in the range of 62.5% to 63.5% of revenue on a GAAP basis and 63% to 64% of revenue on a non-GAAP basis.

Operating expenses. Like other organizations globally, we're experiencing cost pressures due to increased labor costs and inflation. However, we have been successful at mitigating this challenging part by broadening our hiring practices with an emphasis to recruit more positions in lower-cost geographies and in part by using innovative technology. We continue to explore all options available to ensure we are able to acquire the talent we need to achieve our profitability and growth targets. Sales and marketing expenses as a percentage of revenue was 35.8% for the second quarter compared to 36.2% for the prior year second quarter.

On a non-GAAP basis, which excludes stock-based compensation expense, sales and marketing expenses as a percentage of revenue was 34.9% during the quarter compared to 35.2% in the year ago period. We remain focused on making the appropriate investments needed to support our growth initiatives and we continue to expect full year 2022 sales and marketing expenses to be in the range of 34.5% to 35.5% on a GAAP basis and 33.7% to 34.7% on a non-GAAP standpoint.

General and administrative expenses as a percentage of revenue, excluding outside litigation costs, was 18.6% for the second quarter compared to 18% for the prior year second quarter and also declined as expected sequentially from 20.4% in the first quarter of fiscal 2022. On a non-GAAP basis, which excludes stock-based compensation expense, G&A was 16.9% of revenue versus 16.7% in the year ago period. There were one-time employee-related expenses and software implementation costs and other various items impacting spend during the quarter.

Moreover, we do note that our G&A expenses did decline nearly 6% in the second half of 2021 versus the first half of 2021 and see a similar trend this fiscal year. Current and expected 2022 spend includes the investment in information systems, costs for additional personnel to support growth, cost as a public company, cost to support our global compliance operation and incremental professional, legal, audit and insurance costs. Therefore, we now see G&A expenses in the 16.5% to 17.5% range, up from our prior range of 16% to 17% on a GAAP basis and 14.8% to 15.8% on a non-GAAP basis.

Net outside litigation expense was $3.1 million for the second quarter compared to $2.8 million for the prior year second quarter. Our outside litigation spend is not linear and can fluctuate each quarter based on timing and the nature of litigation activities. As Seth noted, the remaining 2 cases currently scheduled for a jury trial on October 31, 2022, resulting in litigation costs that we had expected to incur during fiscal year 2023 being pulled forward into fiscal year 2022. Accordingly, we expect outside litigation expense to now exceed $20 million from our prior guidance of $15 million to $20 million for the full year 2022. We are early in our trial preparation and thus should have more clarity to provide during our Q3 call.

For the second quarter, net income attributable to shareholders was $110,000 or $0.00 per diluted share compared to the prior year's second quarter loss attributable to shareholders of $4.8 million or a loss of $0.06 per diluted share. On a non-GAAP basis, net income was $6.4 million or $0.07 per diluted share versus $8.4 million or $0.09 per diluted share. Adjusted EBITDA was $11 million or 10.9% of revenue for the second quarter. I'd also like to highlight our non-GAAP operating margin, which excludes outside litigation spend and stock-based compensation of 11.8% for the second quarter, underscoring the significant profitability potential and substantial leverage to our operating model. Accordingly, we remain confident in our ability to achieve our long-term target of operating margins in excess of 20%.

Balance sheet. We ended the second quarter with a record cash balance of $160 million compared to $110 million for the prior year second quarter. On a cash flow basis, for the second quarter, we generated $15 million of operating cash flow and year-to-date, we generated $60.8 million, up from $47.2 million in the prior year first half. Deferred revenue as of June 30, 2022 was approximately $300 million, up 13% from $266 million for the prior year second quarter. Backlog, which includes the sum of billed deferred revenue and noncancelable future revenue was approximately $551 million as of June 30, 2022 compared to $571 million for the prior year second quarter.

Capital market transactions. During the second quarter, the Board of Directors authorized an increase to our previously announced common stock repurchase program from up to $15 million over 2 years to up to $50 million over the next 4 years. During the second quarter, we repurchased 85,600 common shares with a market value of approximately $508,000. The repurchase shares were retired. Going forward, we will look for additional strategic opportunities to repurchase common shares, although we reserve full discretion on repurchase decisions and whether to activate or deactivate the plant at any time.

Regarding the term loan, during the second quarter, we prepaid $5 million of principal value with no prepayment penalty and the current term loan principal value is approximately $80.5 million. With a strong cash position and consistent operating cash flow generation model, we believe the company is able to comfortably fund growth, execute our capital return plan and reduce debt in the interest of our shareholders. Business outlook. We're currently providing third quarter 2022 revenue guidance to be in the range of $100.5 million to $102.5 million and we are maintaining full year 2022 revenue guidance to be in the range of $402 million to $411 million.

This concludes our prepared remarks. Operator, we'll now take questions.

Question-and-Answer Session

Operator

[Operator Instructions]. Our first question comes from Derrick Wood from Cowen and Company.

Andrew Sherman

It's Andrew. Nice quarter. Seth, would love to hear how the Americas org changes are going so far? What inning do you think we're in there? And kind of what else has lots to do there? And when do you think this can accelerate -- reaccelerate U.S. growth even faster?

Seth Ravin

Yes. Great to talk to you. We're definitely seeing improvement in the maturing of the management structure in all the Americas, which includes North America and the South and Central America. We brought that all under a single umbrella. And I think we're seeing the consistency of execution improving between the regions. I think we're seeing really, some really good deals that are getting done. But I still think the macro environment is going to cause challenges probably through the third quarter in the Americas as well as globally. And we've seen that the macro challenges really affecting at a global level. So, I think that's still going to slow everyone down a little bit in the third quarter. But as I mentioned in the prepared remarks, I expect that once these replanning cycles are done, you're going to see us benefit on the other side of that. We're involved in a lot of those discussions. The teams are involved in a lot of those discussions with many name brand clients. And I think those are all very positive signs.

Andrew Sherman

And you hired the 153 net new employees that looks like a record. What drove that? And how have retention levels trended and where do you end on sales reps?

Seth Ravin

The retention levels are challenging as much as everybody else. The difference is we hit, I think, about 21% churn rate on employees and the industry average is 23%. So, we're trending about 2 points less than the industry, but we were traditionally about 10%. So, it's high for us. So, I still think that means we're in line with the market or a little bit better in terms of the churn. We put some great programs in place like our fabulous Fridays, which are fully paid Fridays for every Friday in July and August.

So people love that. And I think we're doing a bunch of other programs, which our employees really like and it's energizing them in a post-pandemic world, where it's giving them some time to get their lives back together and reassimilate into society. We've also been bringing people together from around the world for meetings that they haven't had in 2 to 3 years, so they're reconnecting with teammates. So, I think all those things are going to help us bring down the attrition rate. I also think because the market is busy in hiring freezes and laying people off, that will cool things down a bit as well since our employees were busy hiring.

Andrew Sherman

And then, Michael, on the guidance, leaving the full year unchanged, maybe just speak to the level of conservatism in that? And anything extra you've kind of, or what have you assumed as far as macro in the second half?

Michael Perica

So Andrew, I think we are certainly, as Seth noted during this interim period with a lot of freezing for decisions that are happening out there. We're feeling confident in our guidance for the full year, but we are reflecting that overall environment as Seth noted.

Andrew Sherman

Were there any -- one last one, were there any big deals that pushed to the second half?

Seth Ravin

Definitely, there are deals that pushed. And I think, again, as you're seeing in so many different company earnings, delayed sales cycles, lengthened sales cycles, we're certainly seeing some of that as well because as these companies and government organizations rejigger their plans in order to prepare for a multi-year potential recession, different type of environment, they are not doing anything because they're not buying anything while they finish those plans. And I think based on the involvement that we've seen, the kind of work that we're involved with clients and prospects around the world, we feel pretty positive about the fact that we're going to benefit when they finally finish their plans. We intend to be a part of them.

Operator

Our next question comes from Brian Kinstlinger from Alliance Global Partners.

Brian Kinstlinger

The first one may be a little long. The September quarter is, I believe, the most important quarter from a bookings perspective for your company, case in point, last year. SAP and international businesses generally have seasonal maintenance renewals. And we're early in the third quarter, but maybe I'm curious, have you continued to see better win rates in these opportunities, especially as your business development team is more tenured? However, the second part of my question for that in one of your comments, I thought I heard that you're taking over the overseas international sales. So, I guess given that timing, I'm curious what precipitated that change if I heard it right?

Seth Ravin

Sure, Brian. Great to talk to you again. We -- 2 things. One, we made a change having the COO, where all the GMs reported to the COO. Our COO exited. And I am going to personally oversee all of the general managers. So, think of me as kind of in the acting CRO role as well. I wanted to step back in. I talked to a lot of investors. I've looked at the business and it was one of those opportunities for the founder and we've seen this story before, to step back in to reaccelerate the business.

We were previously a 30% type growth company traditionally. I think the opportunity and the demand is there for us to have that kind of business even on a much bigger number. And I decided I was going to step back in and take it personally to get us where I believe we need to be and complete the transition to $1 billion revenue scale by the end of this year. I think it's no secret that it's taken us a little bit too long to get through this transition. We should have had it done in a year. It's been 18 months. And I'm determined to complete the transition by the end of '22 and leave us in a very strong position out of the starting gate for '23.

Brian Kinstlinger

And the second part of the question, is 3Q tracking much better than last year's 3Q with your more tenured salespeople?

Seth Ravin

Well, we are always very back-end loaded in the third quarter. So, we truly are really early. But I can tell you that we closed some good SAP business even in the end of Q2 as well as early in Q3. And those are always good signs when we close deals on SAP that early. Generally, they're all sort of those last few weeks of the quarter, just the way it's all structured. So, the fact that we're seeing early closes and we've closed several deals in the early parts of the quarter, I take those as positive signs.

Brian Kinstlinger

One last question, and then I'll get back in the queue. You've talked -- I think you've been clear there are some freezes in decisions that are hurting the third quarter. I guess what I'm trying to understand, your business is set up for essentially a 50% cut to the OEMs in price. So, you're well set to cut cost for uncertainty. Why is this not the time for -- especially as maintenance renewals come up for those executives to pull the trigger and move to third-party maintenance? And why -- I mean, does that mean we'll wait another year until their maintenance agreements are up for the next -- for the next year?

Seth Ravin

Well, it really depends. And I think, Brian, a lot of this is driven, as you know, by this daily global macro drama that unfolds by the day and it's havoc on businesses. I mean, there's no other way to say it. When you have so many different questions, should I build a factory in China? Am I going to have political issues with that? How do I deal with Eastern Europe? How do I think about energy, if I'm going to build a plant inside of Europe? All these questions are now wreaking havoc to the point of causing internal paralysis for a lot of companies and they're having to step back and rethink. Now that doesn't mean they don't want to save money. That's why I said, ultimately, I expect to prevail. Now when you mentioned saving money right off the bat, well, that's the maintenance business. Our AMS business is a year-round business. It doesn't have the same exploration data. It could be any date. Our security products, our professional service, all those things can be sold any time.

And so yes, there is a window under which they're going to have to make a decision. For those who have maintenance renewals in the third quarter, they're going to have to make a call about whether they're going to move forward and take advantage of better service and better savings and do the things that they want to invest in, in the business with that savings now or they could miss the window. And I think that's -- those are the kinds of things that have left us to keep the current guidance for the annual revenue is because we have really strong visibility on our recurring revenue. It's these new projects like everybody else. There's a little bit of -- we've got to wait and see. The visibility is not nearly as good as it was months ago. And we're just going to have to ride it out and see how we can move these deals forward through this environment.

Operator

Our next question comes from Jeff Van Rhee from Craig-Hallum.

Jeff Van Rhee

Congrats. Love that free cash flow again. So a few for me, though, if I could. Start with maybe on the revenue front, you've got obviously a pretty wide range, and this is for either of you, but a pretty wide range on the revenues. To the extent you can talk through that and what would it take to hit the high end, mid and low? I understand there's variability, but we're coming into Q3, that's still a pretty wide range here. So, how are you thinking about keeping such a wide range? And what gives us high and low end?

Seth Ravin

Sure, Jeff. Thanks. I think the range, we always narrow it down, of course, after the third quarter. We'll have a much better sense. And I think the fact that we have a hugely predictable recurring revenue stream now that's a monster at hundreds of millions of dollars gives us a lot of stability and confidence in the range that we have. When we talk about what would it take to hit the higher end of the range, it's going to require a good Q3. As you know, we can have a great Q4, but it's not going to impact revenue that much on the ratable basis. That will tee-up '23 numbers nicely. But the real revenue, you set your course in the first half of the year, the third quarter, you have to really have a good quarter to get to the high end of those numbers. I mean that's just the bottom line.

Jeff Van Rhee

And would you say -- I mean, from a pipe standpoint and then I want to get to the sales transition in a second, but from a pipe standpoint, the pipe is there. So, it's not -- obviously, the pipe has got to be there and already working if you're going to get it done at this quarter. So, you'd say the pipe is there. It's a matter of close rates and that's still within reasonable to get at the high end based on the pipe you see?

Seth Ravin

I think the high end is going to require, like I said, a strong quarter. I think there is a pipeline to get mostly there. And then you always in the third quarter as in any quarter, we have these bluebirds that can come up traditionally, some very large ones because customers come to the table late with a -- we've only got weeks left and we'd like to do something. That is a pretty traditional occurrence for us.

So we don't have to have visibility to a full pipe that would get us there. There is, of course, there is a coverage model that says there's enough in the pipeline to make those numbers happen. But the reality is, again, it's that visibility with this constantly changing macro drama and even the exchange rates were pretty brutal on us in terms of so much of our revenue coming from places with reductions against the dollar.

So $1 million in Australia becomes $800,000. So, those things certainly working against us, too. But I think that the pipe exists to make it happen. It will take some really good work and some good luck in the economy and some cooperation with clients to pull it all together to get to the high end of the range.

Jeff Van Rhee

And just a few other quick ones, if I could. On the expense growth, it looks like you're targeting somewhere in the high single-digits, deliver or take than on the revenue growth side. But the decision to keep hammer down on head count, I think you said headcount is up 18% year-over-year, and I know you've been very aggressively adding the last 12, 24 months. How do you -- what are the puts and takes? I mean, what would it take for you to get off the gas on the employees? And just how do you think about the trade-offs there?

Seth Ravin

I think it's really -- we're at a position where you think about the hiring, a lot of it is in the gross margin area. And you've seen we've gone to 63-plus percent, but we also need a lot of headcount for AMS. AMS is a very labor-intensive business. And we're probably behind where we'd like to be. We'd love to have another 100 heads in the service delivery organization and for professional services. We have major projects that customers want us to do that we physically haven't been able to staff.

So there's some challenges there for sure. And that's why when you think about the hiring, the other thing to be careful of is don't get caught up in the FTE numbers. I'm always -- I'm actually always a little bit ambivalent about providing the number because while we grew at over 17% year-over-year, those heads could be in India or other countries where there are a fraction of the cost of a U.S. head or a European head or an Asia Pac head. And so it could be a little bit misleading that you could have increasing numbers, but they may be very, very low-cost employees. So, that number could be, like I said, you just have to take that carefully.

Jeff Van Rhee

Last for me then, Seth, on one other -- to follow-up on a comment you made about your -- the transition lingering 18 months you want it done by the end of '22. I know you're working on a lot of things, but what's 1 and 2 on that list? How are you going to know you gotten there, you're done? I mean, what needs to happen by the end of '22?

Seth Ravin

Well, the close rates were very good for our sales team. I mean we're heading -- we've been hitting about a 30% close ratio on our opening pipeline numbers, which is a strong close rate. That's not where the issue is. We want to increase the total volume of deals. You've got a maturing sales force. The #1 issue that I have is making sure that the phone is ringing in marketing and building the pipe even much bigger. We want to see even larger multiples of deals and backup deals. That's how you reassure yourself in an environment where you have more in your deals for lack of a better term because of macro and whether people can make a decision and timing.

When you get into that kind of environment, you want to double up your number of deals in the pipe so that for every deal that you have, you have not just 1 backup, but you have 2 backups, maybe 3 backups. And that's how you assure that you're going to get to the numbers that you want. So right now, it's all about building a massive pipe of business, much bigger, much broader than we would normally require because you have to expect we have a higher fall-off rate or a deal gets extended and misses a deadline and a renewal time, that's what you have to do. And that's what we're focused on making happen.

Operator

At this time, we have no further questions.

Seth Ravin

Okay. Well, thank you very much, everybody. Thanks for joining us on our second quarter '22 earnings call. And I also want to thank all of our colleagues for their efforts in the second quarter. It's been very, very helpful. A lot of work went into the quarter, delivering those kinds of amazing clients add numbers as well. We look forward to having everyone join us on our next earnings call. We'll discuss the third quarter '22 results, and we'll select fourth quarter performance to date commentary as well. Until then, please continue in good health and our thoughts and charitable support for those suffering in harm's way. Thank you very much, everyone. Have a great day.

Operator

This concludes today's conference call. Thank you for attending.

Sat, 06 Aug 2022 13:54:00 -0500 en text/html https://seekingalpha.com/article/4530976-rimini-street-inc-rmni-ceo-seth-ravin-on-q2-2022-results-earnings-call-transcript
Killexams : Kiwi Oracle user Tranxactor Group shifts from AWS for Oracle Cloud
John Norrie (Tranxactor Group)

John Norrie (Tranxactor Group)

Credit: Supplied

Auckland-based loyalty, CRM and payment provider Tranxactor Group has switched to Oracle's cloud from AWS, slashing infrastructure costs.

Tranxactor had historically run its ThorTransactor platform on an Oracle on-premises solution, before deciding to move to the public cloud with AWS. However, it found that using mixed environments was not cost efficient.

After evaluating other cloud providers, Tranxactor selected Oracle Cloud Infrastructure (OCI) for its consistent pricing, speed, security, and scalability and had since reduced infrastructure and systems management costs by 75 per cent.

Privately-owned Tranxactor will also use Oracle's enterprise database service to provide brands with rich and immersive customer engagement and loyalty programmes.

Founded in 2002, Tranxactor's ThorTransactor loyalty and CRM platform has processed more than 5.5 billion transactions to-date by more than 23 million loyalty and gift card holders around the world.