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Forbes
23-06-2025
- Business
- Forbes
Why Institutional Memory Is A Bottleneck For AI Agents
Kevin Novak, Managing Partner & Founder at Rackhouse Venture Capital. AI agents are quickly becoming a top buzzword for 2025. Breakthroughs in reasoning and task automation are pushing AI from experimental tools into critical parts of business operations. For the first time, systems can consistently execute complex knowledge work across industries. But there's a critical bottleneck emerging as companies rush to adopt agents, and it's not what most are preparing for. Despite impressive gains in intelligence, AI agents still largely operate without institutional memory. Every interaction is like onboarding a new hire on their first day, and without accumulated context, even the most capable agents can be prone to predictable and costly mistakes. In the era of intelligent automation, context is king. And right now, it's the missing foundation beneath the promise of AI agents. The 'First Day' Problem Even with strong reasoning, every task an agent tackles is a fresh start. They begin with zero organizational knowledge. Teams either load huge amounts of context into the system prompt—which eats into available tokens and introduces 'needle in a haystack' information retrieval problems—or they hope the model's pretraining and chain of thought provides enough relevant information to succeed. This becomes clear in real-world use. Several agents I've examined can execute multistep code changes based on a product spec, but they often fail to respect an organization's idiosyncrasies such as their coding style, release protocols or interpersonal handoffs. For instance, an agent will not know that a schema freeze has been declared before a major release unless that detail is manually loaded. The same thing can happen in consumer-facing workflows. Most people do not realize they follow a personal decision tree when booking travel. You might choose a long layover to rack up extra miles, or you might spring for a first-class ticket unless it is more than twice the price of economy-plus. AI agents, lacking context, cannot see the logic behind these trade-offs. They can make technically correct choices that are operationally misaligned. Tribal Knowledge And Organizational Memory This is where tribal knowledge can become a blocker. Even basic tasks, like knowing the password to a legacy system or understanding why a data table has null values, can be governed by undocumented decisions made years ago. Institutional memory does not live in documentation. It lives in people, and when those people leave, that knowledge often leaves with them. Some organizations try to get ahead of this by enforcing documentation, hiring technical writers or building out data catalogs. In theory, these efforts reduce reliance on unwritten rules. But in practice, the knowledge transfer is often partial. Worse, even knowledge that's current when written can immediately start to go stale and out-of-date as the business evolves. As a result, many business processes still rely on team intuition, and agents are not yet equipped to tap into that. Without a memory layer, I believe AI agents will continue to struggle in these gray areas. They will run directly into edge cases and exceptions that experienced teams have already learned to navigate. Real-World Consequences The risks are already showing up. 'Jimmy's pipeline' is a familiar story inside many engineering teams. It refers to a critical piece of infrastructure built by someone ('Jimmy') who left years ago. No one touches it because the last time someone did, the system went down for a week. Everyone knows to leave it alone—not because it is documented, but because it is understood. An AI agent does not know this. It sees an outdated, inefficient system and confidently rewrites it, leading to an entirely avoidable outage. These issues are not limited to engineering. In legal workflows, one client might require document formatting based on an obscure contractual clause. In procurement, vendor selection may follow historical patterns that are not in the system. In customer success, VIP accounts often require personalized treatment that never makes it into the knowledge base. In short, instead of increasing efficiency, agents that operate without memory can generate rework, risk and confusion. Coaching The Next Generation Of Agents I believe that the next wave of progress with AI agents will not come from better reasoning—it will come from better context handling. Right now, most companies rely on prompt engineering to inject relevant details into the system prompt. That can work in narrow use cases, but in my experience, it tends to break down as the number of tasks or users grows. Prompts get long, age quickly and can't adapt in real time. We have started to see more dynamic approaches emerge. For example, one tool I've worked with gives agents the ability to store and retrieve information over time—a rough analog for how humans accumulate institutional memory through experience. But most of these systems are still early. As complexity scales, agents can run into tool selection errors or apply context in ways that stop making sense. Protocols like model context protocol (MCP) may offer a cleaner substrate for delivering modular context to agents, but the ecosystem for memory infrastructure is still underdeveloped. I believe this remains one of the clearest market gaps in applied AI—and that the companies that figure it out will create real leverage. Final Thoughts The bottleneck holding back AI agents today is no longer reasoning. It's context. I have seen how even lightweight efforts to capture tribal knowledge can prevent obvious missteps. Keeping your agent scope narrow and placing people around workflows that require history or judgment tends to produce more stable outcomes. As usage scales, I believe systems that consistently deliver context—whether through documentation, memory layers or internal tools—will unlock far more value than reasoning improvements alone. The companies that get this right have an opportunity to move faster, avoid rework and build more resilient automation strategies. In this way, context can be what separates early adoption from lasting advantage. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Yahoo
11-06-2025
- Business
- Yahoo
Telescope Innovations' Directors Establish Private Debt Instrument to Accelerate Development of Self-Driving Labs
VANCOUVER, British Columbia, June 10, 2025 (GLOBE NEWSWIRE) -- Telescope Innovations Corp. ('Telescope Innovations', 'Telescope', or the 'Company') (CSE: TELI) (OTCQB: TELIF) (FSE:4JU) is a leader in intelligent automation platforms for accelerating chemical process development. The Company announces that it has entered into a secured loan facility with a group of lenders which includes Jason Hein and Henry Dubina, pursuant to which the Company has received a loan (the 'Loan') in the amount of CAD $1,200,000 to support operational activities. The Loan bears interest at a rate of 6.95% per annum and matures on June 1, 2026. Each of Messrs. Hein and Dubina are directors of the Company and are related parties of the Company pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ('MI 61-101'). As a result, the portion of the Loan provided by Messrs. Hein and Dubina, which totals CAD $600,000, constitutes a 'related party transaction'. The Company is relying on the exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Sections 5.5(a) and 5.7(1)(a) respectively, as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the Loan exceeds 25.0% of the Company's market capitalization. 'This private credit instrument demonstrates the commitment and continued enthusiasm of our founder, board and executive management to accelerate the development of the Company's Self Driving Laboratory ('SDL') platforms. We are on the verge of introducing our break-through technology platform to address this completely underserved, rapidly growing market opportunity,' commented Henry Dubina, CEO and Chairman of the Board of Directors of Telescope. Dr. Jason Hein, Founder and CTO, said, 'Our SDL pairs robotics with real-time chemistry analytics and machine-learning-guided experimental loops. The system sets up reactions, measures kinetics on the fly, and decides on the next experiment without researcher slowdown — exactly the automation, data connectivity, and AI foundations that are still lacking as global pharma companies race to modernize their labs. We are accelerating our SDL development efforts precisely when most big-pharma labs are budgeting multi-million dollar upgrades. By acting now, we are positioning Telescope at the forefront of this industry shift.' The Company paused the previously announced non-brokered private placement equity financing (February 4th, 2025) due to tariff uncertainty and public market volatility. Currently, private credit offered the optimum flexibility to the Company than traditional commercial credit due to better terms, repayment schedules, covenants, and collateral requirements. As conditions improve, the Company may seek future equity financing as and when the Company needs. About Telescope Innovations Telescope Innovations is a chemical technology company developing scalable manufacturing processes and tools for the pharmaceutical and chemical industry. The Company builds and deploys new enabling technologies including flexible robotic platforms and artificial intelligence software that improves experimental throughput, efficiency, and data quality. Our aim is to bring modern chemical technology solutions to meet the most serious challenges in health and sustainability. On behalf of the Board, Telescope Innovations Corp. Henry Dubina, Chief Executive Officer Forward-Looking Information Forward-looking information is based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, and uncertainties that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law. CONTACT: Henry Dubina, Chief Executive Officer E: hdubina@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
10-06-2025
- Business
- Globe and Mail
Robotic Process Automation Ignites Growth for USA Businesses with IBN Technologies
"Robotic Process Automation [USA]" Explore the rising impact of Robotic Process Automation in the USA, highlighting its role in modernizing financial and operational workflows. Readers will gain insights into how intelligent automation is enabling businesses to enhance efficiency, improve accuracy, and adapt to evolving market demands. Learn how IBN Technologies delivers customized Robotic Process Automation solutions customized for various industries to drive future-ready growth. Miami, Florida - 10 June, 2025 - Strategic adoption of RPA combined with artificial intelligence is gaining momentum across the United States as companies and industries advance their operational capabilities. From finance and healthcare to retail and logistics, organizations are integrating robotic process automation and other intelligent technologies to keep pace with evolving market demands and increasing speed of business. This growing trend signals a shift in how work gets done, transforming routine tasks into automated processes that free teams to focus on higher-value activities. As this wave of automation gains momentum, many leaders are exploring how AI and automation can reshape workflows, enhance agility, and unlock new opportunities within their organizations. The rapid adoption of AI-enabled automation across sectors invites businesses to reimagine their operations and consider what automation could mean for their future growth and competitiveness. With this evolving landscape, companies like IBN Technologies highlight the expanding role of RPA in finance in shaping tomorrow's business environment. Transform operations with smart solutions. Get a Free Consultation: Tackling Key Automation Challenges Financial institutions across the United States are embracing automation and artificial intelligence to accelerate operations and improve decision-making. RPA supports streamlined workflows, faster execution, and enhanced data accuracy. These technologies help firms stay agile and responsive in a dynamic market environment. Outdated legacy infrastructure slows automation of deployment across departments. Heightened data security requirements accompany expanded digital workflows. Uniformly scaling automation solutions remains a complex task. The demand for skilled automation professionals exceeds the supply. Limited employee awareness can slow adoption efforts. Compliance mandates require rigorous controls over automated processes. Financial leadership seeks transparent return on investment to justify automation of investments. Fragmented systems obstruct efforts to standardize financial operations. Integration gaps create inconsistencies in automation performance. While these obstacles pose challenges, automation solutions are no longer rigid or one-dimensional. RPA is increasingly offered as a service, enabling companies to adopt flexible, scalable platforms tailored to their specific operational contexts. Firms such as IBN Technologies provide these customized automation frameworks, designed to meet industry demands, organizational setups, and compliance regulations, helping enterprises simplify complexity, enhance productivity, and maintain agility in today's evolving digital landscape. Driving Operational Excellence Through Automation As industries across the U.S. advance, the momentum behind automation continues to accelerate. From optimizing workflows to enabling swift, data-driven decisions, organizations are prioritizing intelligent automation as a key strategic asset. Robotic process automation solutions emerge as foundational technologies that support agile, interconnected, and efficient business environments. • Organizations accelerate outcomes through automation-enabled processes and comprehensive automation services. • Real-time data insights enable faster, confident decisions. • Integrated platforms encourage consistent collaboration across teams. • Digital workflows increase transparency across critical operations. • Standardized procedures foster smooth coordination between departments. • Intelligent automation supports compliance with accurate task execution. • Leadership values solutions demonstrating measurable business impact. • Scalable systems empower growth aligned with organizational goals. • Flexible integrations enhance preparedness for ongoing digital transformation. • Customized workflows evolve in line with shifting priorities. Expert guidance is essential for navigating automation. With the right support, businesses can turn strategy into measurable impact. As a trusted partner, companies like IBN Technologies deliver tailored automation solutions, combining seamless integration and intelligent workflows to help organizations advance with agility, precision, and control. 'One strategic decision in automation can elevate an organization's competitive edge. Collaborating with experienced experts ensures automation delivers the exceptional results companies expect,' says Ajay Mehta, CEO of IBN Technologies. Demonstrated Success Through Expertise Across multiple industries in the USA, organizations have partnered with IBN Technologies to implement tailored RPA solutions, driving significant gains in operational efficiency and competitive advantage. By embedding RPA into their workflows, these companies have strengthened their market positions. The influence of RPA in finance and accounting stands out, enabling faster, more precise decision-making and streamlined processes. By adopting RPA, industries in the U.S. have accelerated their operations by over 30% More than 40% of RPA-enabled companies report stronger real-time decision-making across business functions. Organizations adopting RPA have seen a 25% average decrease in operational expenses. The trajectory of business aligns with automation. As industries deepen their adoption of this transformative technology, opportunities for elevated productivity, insightful decision-making, and sustained growth continue to expand. With customized robotic process automation solutions, companies are well-prepared to adapt to evolving market demands. IBN Technologies remains a leader in delivering tailored RPA services that equip businesses to innovate and reach new milestones of success in today's competitive global landscape. Financial Excellence with Automation The rise of RPA is revolutionizing how financial operations are managed across industries in the United States. By integrating intelligent automation into accounting and finance, organizations significantly reduce manual workloads while improving data accuracy and compliance. This transformation enables faster processing of transactions, enhanced reporting capabilities, and streamlined workflows that adapt to shifting business needs. Beyond efficiency gains, RPA empowers finance teams to focus on strategic initiatives by automating routine tasks and minimizing errors. As businesses face increasing pressure to maintain agility and meet regulatory standards, intelligent process automation delivers a scalable and adaptable solution. Companies embracing these technologies are not only boosting productivity but also building resilient infrastructures that support future growth. Trusted providers like IBN Technologies serve customized RPA solutions designed specifically for finance functions, helping enterprises unlock new levels of operational excellence and competitive advantage in a rapidly evolving market. Intelligent Process Automation: About IBN Technologies IBN Technologies LLC, an outsourcing specialist with 25 years of experience, serves clients across the United States, United Kingdom, Middle East, and India. Renowned for its expertise in RPA, Intelligent process automation includes AP Automation services like P2P, Q2C, and Record-to-Report. IBN Technologies provides solutions compliant with ISO 9001:2015, 27001:2022, CMMI-5, and GDPR standards. The company has established itself as a leading provider of IT, KPO, and BPO outsourcing services in finance and accounting, including CPAs, hedge funds, alternative investments, banking, travel, human resources, and retail industries. It offers customized solutions that drive AR efficiency and growth. Media Contact Company Name: IBN Technologies LLC Contact Person: Pradip Email: Send Email Phone: +1 844-644-8440 Address: 66, West Flagler Street Suite 900 City: Miami State: Florida 33130 Country: United States Website:
Associated Press
27-05-2025
- Business
- Associated Press
EvolutIA Announces Formation of Advisory Board to Accelerate Growth in Agentic Process Automation and AI
Tampa, FL May 26, 2025 --( )-- EvolutIA, a leader in intelligent automation and AI-powered agentic transformation, today announced the formation of its Advisory Board, an accomplished group of executives, technologists, and entrepreneurs assembled to guide the company's next phase of growth. This distinguished board brings decades of experience across various sectors, including technology, healthcare, automation, capital markets, and talent strategy. EvolutIA partners with forward-thinking organizations to accelerate their journey toward enterprise autonomy, replacing rigid, rules-based automation with adaptable AI agents that think, learn, and act. As enterprises strive to move beyond the limitations of traditional automation, EvolutIA is pioneering a new category: Agentic Process Automation (APA). APA combines intelligent agents with scalable operational design to drive efficiency, enhance decision-making, and unlock new value streams. The newly appointed Advisory Board will provide strategic counsel, industry insight, and deep functional expertise to help EvolutIA capitalize on this growing market opportunity and expand the reach of its transformative solutions. Jeff Colvin will serve as Advisory Board Chair. A proven operator and investor, Colvin brings over three decades of leadership in high-growth technology and healthcare ventures. His track record includes scaling and exiting market leaders such as Rapidigm, Datavail, Acustream, and Jolt AG, culminating in one of the largest RPA/AI mergers in the U.S. 'Jeff is a disciplined operator and strategic thinker,' said EvolutIA CEO Chris Thilburg. 'His leadership will be instrumental as we navigate the complexity and opportunity of enterprise-scale AI.' Joining Colvin are four esteemed advisors: · Michael Wasik, a serial entrepreneur and investment banker, brings more than 25 years of experience in scaling companies, executing M&A transactions, and driving capital strategy. His expertise spans technology, media, and telecommunications, including public market transitions and strategic exits. · Michael Duke, a nationally recognized expert in healthcare revenue cycle transformation and hyperautomation, currently leads automation and innovation at Guidehouse. His was instrumental in developing the firms M3 Automation Discovery methodology that has led to the generation of tens of millions in operational impact and he will advise on EvolutIA's AI agent deployment strategy. · Alan Young, a technology leader with over 35 years of experience spanning IT, finance, and software development, has advised both tribal conglomerates and Fortune 500 companies on technology infrastructure and service delivery. His work in consolidating IT operations and leading enterprise software platforms will shape EvolutIA's efforts to scale up. · Mark Turgeon, a seasoned professional in strategic recruiting, offers deep insights into human capital, embedded workforce models, and executive search. With a focus on aligning talent with growth strategies, Mark will help EvolutIA scale its internal teams and partner network as demand accelerates. 'Our advisors represent the best in business, strategy, and innovation,' said Thilburg. 'Their insights will shape how we scale our impact, expand into new markets, and help clients reimagine operations through agentic automation.' The formation of the Advisory Board marks a significant milestone in EvolutIA's mission to transform enterprise operations with intelligent, autonomous systems. With this team in place, the company is well-positioned to expand its influence and accelerate the adoption of next-generation automation across enterprises. About EvolutIA EvolutIA is a leading consultancy and solution provider in Agentic Process Automation, helping enterprises accelerate their journey toward enterprise autonomy. By replacing rigid automation with adaptable AI agents that optimize complex workflows, increase ROI, and unlock organizational potential, EvolutIA empowers businesses to operate with greater intelligence and agility. The company partners with top AI platforms and service providers to deliver scalable automation that thinks, learns, and adapts at enterprise speed. For media inquiries or more information, contact: [email protected] Contact Information: EvolutIA Chris Thilburg 727-436-6926 Contact via Email Read the full story here: EvolutIA Announces Formation of Advisory Board to Accelerate Growth in Agentic Process Automation and AI Press Release Distributed by
National Post
07-05-2025
- Business
- National Post
Rimini Street and ServiceNow Partner with Apsen Farmacêutica to Deliver a Next-Generation Vision of Enterprise-Wide Workflow Automation
Article content Pharmaceutical manufacturer layers ServiceNow over its existing SAP ECC 6 ERP platform, enables intelligent workflow and automation for immediate business impact and avoids low ROI spend on expensive, risky vendor-mandated migration to SAP S/4HANA Article content Article content LAS VEGAS — Knowledge 2025 — Rimini Street, Inc. (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, management and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today at ServiceNow's annual customer and partner event, Knowledge 2025, announced that Apsen Farmacêutica, a Brazilian pharmaceutical manufacturer, has partnered with Rimini Street and ServiceNow to implement a next-generation vision of enterprise-wide workflow automation. This new vision will enable autonomy across the company to help respond faster to market changes, reduce information silos and improve operational efficiency. Article content 'Rimini Street's innovative solution with ServiceNow was the fastest and surest path to achieving our transformation vision.' – Renan Santos, CIO of Apsen Farmacêutica Article content Apsen is prioritizing business needs above technology, leaning into a flexible, modular approach to ERP that allows for continuous innovation and control over IT investments. The first step on this path was to remove dependencies on vendors and systems, starting with its SAP ERP platform investments. Article content 'The core of the strategy, designed three years ago, was to bring in a team with the capacity to transform IT, adopting the concept of 'Make, Buy or Blend' and connecting all of the company's systems in an orchestrated manner. In the middle of the process, the topic of SAP came up,' said Renan Santos, CIO of Apsen Farmacêutica. 'With SAP's announcement that they will no longer support SAP ECC 6 after 2027, we had a choice to make – take on the cost, disruption and risk of migrating to S/4HANA or reimagine our existing system to become an innovation platform. That's when we partnered with Rimini Street to implement ServiceNow's ERP modernization solution.' Article content 'We are very excited to partner with ServiceNow and Apsen Farmacêutica to deliver this next-generation technology – which was easily layered on top of their existing SAP ECC 6 ERP and other current enterprise software platforms, with no costly, risky and unnecessary upgrades or migrations required,' said Seth Ravin, CEO of Rimini Street. 'We are proud to have helped Apsen self-fund its innovation investments by redirecting the savings from upgrade and migration avoidance. Apsen saw immediate benefits in streamlined processes, reduced operating costs and better operational efficiency.' Article content 'ServiceNow is excited to partner with Rimini Street to deliver our combined solution and next-generation ERP modernization vision to Apsen Farmacêutica – with Apsen realizing value from the solution just weeks after the project started,' said Peter Russo, vice president, core business workflows, product and solutions marketing at ServiceNow. 'ERP and other enterprise software upgrades and migrations generally don't provide strong ROI compared to innovation investments. Apsen is a great example of how ServiceNow and Rimini Street together can deliver value, savings and an accelerated path to innovation, modernization, and agentic AI to organizations around the world.' Article content Rimini Street and ServiceNow have partnered to bring a new solution to market that enables 'Transformation without Disruption' by combining the ServiceNow Platform with Rimini Street's proven enterprise software support for SAP, Oracle, Infor, Microsoft ERP and other siloed enterprise software, and requires no costly upgrades, migrations or replatforming. Article content With this new solution, Rimini Street: Article content Replaces software vendor support for underlying ERP and enterprise software, reducing total support costs by up to 90% while extending software and release lifespans for a guaranteed minimum of 15 years without required upgrades or migrations Frees up funds and resources to invest in accelerating innovation by deploying a ServiceNow layer over and across existing ERP, SaaS and other software Delivers powerful enterprise AI and an integrated 'single pane of glass' view of the organization, providing actionable operational insights and enhancing competitive advantage Connects siloed systems and data Implements intelligent workflows and task automation that help increase productivity and reduce labor requirements Offer users new, modern screen & mobile capabilities, interactions and experiences (UX) Article content 'As a technology professional, it is very frustrating to have two very different experiences as an individual and as a corporate employee – despite the large investments made by companies. Aligning these two worlds is the goal I share with my team,' said Santos. 'We were looking for an agile solution that would deliver value quickly and avoid the costs, complexity and risks inherent in any large software migration project, and Rimini Street's innovative solution with ServiceNow was the fastest and surest path to achieving our transformation vision.' Article content With Rimini Street providing comprehensive support for Apsen Farmacêutica's mission-critical SAP ECC system, Santos and team easily converted SAP tasks and customizations into ServiceNow intelligent workflows, connecting all required existing systems and teams. Keeping with its strategy of composability and flexibility, Apsen Farmacêutica selected low code/no code tools and integrated AI to bring embedded intelligence to workflows, enabling real-time analysis of operations. Article content The results of Apsen Farmacêutica's partnership with Rimini Street and ServiceNow include: Article content With the company seeing the results and benefits of Santos' vision to break from traditional, vendor-driven mandates and restore control and power back into the business, the cultural impact to the organization is significant. 'We have assembled a strong internal team, which now has the capacity to rethink processes, suppliers and architecture in a strategic way. What began as a next-generation vision and a pilot has become a model for the entire company,' said Santos. Article content As Apsen Farmacêutica plans to expand the solution to automate other critical processes such as logistics, quality and finance, Santos adds that Rimini Street's in-depth knowledge of mission-critical systems like SAP ECC 6 and the ServiceNow solution enabled a new reality for the organization. Article content 'Our focus remains on keeping current systems stable and protected, while at the same time creating a structure that allows for continuous and agile innovation. This partnership is strategic so that we can grow with security, scalability and increasingly efficiency,' added Santos. Article content Learn more about Apsen Farmacêutica's path to achieving 'Transformation without Disruption™' with Rimini Street and ServiceNow here. Article content About Rimini Street, Inc. Article content Rimini Street, Inc. (Nasdaq: RMNI), a Russell 2000® Company, is a global provider of end-to-end enterprise software support and innovation solutions and the leading third-party support provider for Oracle, SAP and VMware software. The Company offers a comprehensive portfolio of unified solutions to run, manage, support, customize, configure, connect, protect, monitor, and optimize enterprise application, database, and technology software. The Company has signed thousands of contracts with Fortune Global 100, Fortune 500, midmarket, public sector and government organizations who selected Rimini Street as their trusted, proven mission-critical enterprise software solutions provider, achieving better operational outcomes and realizing billions of US dollars in savings used to fund AI and other innovation investments. Article content ServiceNow, the ServiceNow logo, Now, Now Platform, and other ServiceNow marks are trademarks and/or registered trademarks of ServiceNow, Inc. in the United States and/or other countries. Article content Forward-Looking Statements Article content 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 'anticipate,' 'assume,' 'believe,' 'continue,' 'could,' 'currently,' 'estimate,' 'expect,' 'forecast,' 'future,' 'intend,' 'may,' 'might,' 'outlook,' 'plan,' 'possible,' 'goal,' 'potential,' 'predict,' 'project,' 'seem,' 'seek,' 'should,' 'will,' 'would' 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, adverse developments in and costs associated with defending pending litigation or any new litigation, including the disposition of pending motions to appeal and any new claims; any expenses to be incurred to comply with any injunction ordered by the courts relating to the Rimini II litigation matter and the impact on future period revenue and costs incurred related to these efforts; changes in the business environment in which Rimini Street operates, including the impact of any recessionary macro-economic trends, heightened geopolitical tensions and changes in foreign exchange rates, as well as general financial, economic, regulatory and political conditions affecting the industry in which we operate and the industries in which our clients operate; the evolution of the enterprise software management and support landscape and our ability to educate the market to attract and retain clients and further penetrate our client base; significant competition in the software support services industry and our intentions with respect to our pricing model; customer adoption of our expanded portfolio of products and services and products and services we expect to introduce; our expectations regarding new product offerings, partnerships and alliance programs, including but not limited to our partnership with ServiceNow; our ability to grow our revenue and accurately forecast revenue, along with the results of any efforts to manage costs in light of current revenue expectations and expansion of our offerings; the expected impact of reductions in our workforce during the last and current fiscal year and associated reorganization costs; estimates of our total addressable market and expectations of client savings relative to use of other providers; variability of timing in our sales cycle; risks relating to retention rates, including our ability to accurately predict retention rates; the loss of one or more members of our management team; our ability to attract and retain additional qualified personnel; our business plan, our ability to grow in the future and our ability to achieve and maintain profitability; our plans to wind-down the offering of services for Oracle PeopleSoft products; the volatility of our stock price and related compliance with stock exchange requirements; our need and ability to raise 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; risks associated with global operations; our ability to prevent unauthorized access to our information technology systems and other cybersecurity threats; any deficiencies associated with generative artificial intelligence (AI) technologies potentially used by us or used by our third-party vendors and service providers; our ability to protect the confidential information of our employees and clients and to comply with privacy regulations; our ability to maintain an effective system of internal control over financial reporting; our ability to maintain, protect and enhance our brand and intellectual property; changes in laws and regulations, including changes in tax laws or unfavorable outcomes of tax positions we take; tariff costs (including tariff relief or the ability to mitigate tariffs, in light of new or increased tariffs imposed by the United States government and the potential for retaliatory trade measures by affected countries); a failure by us to establish adequate tax reserves; our ability to realize benefits from our net operating losses; any negative impact of environmental, social and governance matters on our reputation or business and the exposure of our business to additional costs or risks from our reporting on such matters; our ability to maintain our good standing with the United States government and international governments and capture new contracts with governmental entities; our credit facility's ongoing debt service obligations and financial and operational covenants on our business and related interest rate risk; the sufficiency of our cash and cash equivalents to meet our liquidity requirements; the amount and timing of repurchases, if any, under our stock repurchase program and our ability to enhance stockholder value through such program; uncertainty as to the long-term value of Rimini Street's equity securities; catastrophic events that disrupt our business or that of our clients; and those discussed under the heading 'Risk Factors' in Rimini Street's Quarterly Report on Form 10-Q filed on May 1, 2025, 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. Article content © 2025 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. Article content Article content Article content Article content Contacts Article content Article content
