SOURCE: Paisley Consulting

February 06, 2007 13:12 ET

Paisley Consulting Extends Strong Performance in Governance, Risk and Compliance Industry

Company Completes Record-Breaking Year With Continued Growth, Key Customer Wins and Industry Recognition

MINNEAPOLIS, MN -- (MARKET WIRE) -- February 6, 2007 -- Paisley Consulting, a leading provider of governance, risk and compliance (GRC) software solutions, today announced continued growth and strong financial results for its fiscal 2006 year ending December 31, 2006. Building on strong momentum in the governance, risk and compliance market, Paisley Consulting reported record revenues of $33 million, a year-over-year growth rate of 45 percent and record profits. During the year, the company also achieved several key milestones including key customer wins, strategic product introductions and growing recognition as a marketplace leader by industry analysts.

Paisley Consulting attributes its growth and momentum to strong market demand for its holistic approach to governance, risk and compliance. Throughout the year, the company continued to expand its portfolio of new clients with additions such as Time Warner, A. Schulman and Dollar Thrifty.

"Organizations around the world continue to rely on Paisley Consulting to help them unite information silos, replace point solutions and eliminate fragmented approaches to governance, risk and compliance," said Tim Welu, CEO of Paisley Consulting. "As a result of this growing demand, we've experienced extremely strong momentum during 2006 and achieved record-breaking financial results. We're proud of our ability to aggressively grow the top-line while delivering healthy bottom-line results. Building on our momentum in 2006, we look forward to another strong year in 2007."

Based on its ability to execute and completeness of vision, Gartner, Inc. listed Paisley Consulting in the leaders quadrant in the "Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007"(1) report. In addition, Forrester Research cited the company as a Strong Performer in The Forrester Wave™: Governance, Risk And Compliance Platforms, Q1 2006, with the strongest audit integration into the GRC application. Named to the prestigious Inc. 500 list for the third time, Paisley Consulting was one of only 22 software companies included on this year's list.

Reinforcing its dedication to continuous product innovation, Paisley Consulting recently announced Paisley Enterprise GRC™, a complete GRC solution for large enterprises, and GRC on Demand™, a SaaS-based solution. The solutions include components for financial controls management, operational risk management (ORM), enterprise risk management (ERM), audit automation, IT governance and general compliance.

Paisley Consulting also expanded its employee base throughout the year. The company now has 230 employees throughout its offices worldwide.

About The Magic Quadrant

The Magic Quadrant is copyrighted January 2007 by Gartner, Inc. and is reused with permission. The Magic Quadrant is a graphical representation of a marketplace at and for a specific time period. It depicts Gartner's analysis of how certain vendors measure against criteria for that marketplace, as defined by Gartner. Gartner does not endorse any vendor, product or service depicted in the Magic Quadrant, and does not advise technology users to select only those vendors placed in the "Leaders" quadrant. The Magic Quadrant is intended solely as a research tool, and is not meant to be a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About Paisley Consulting

Paisley Consulting is an industry-leading software vendor that provides solutions for governance, risk and compliance (GRC) including financial controls management, internal audit, operational risk management, compliance, IT governance and enterprise risk management. For more than a decade, Paisley Consulting has delivered superior software and services to both large enterprise and mid-market organizations. Governance, risk and compliance software has always been and continues to be the company's focus.

Leveraging industry best practices, standards-based technology, and a choice of software platforms and deployment options, Paisley Consulting customers are empowered to improve the accuracy, consistency and efficiency associated with internal audit, financial controls management, enterprise risk management, operational risk management, IT governance and compliance initiatives. Developed for companies of every size and across multiple industries, Paisley Consulting's solutions enable organizations to streamline governance, risk and compliance processes, reduce costs of compliance, manage and mitigate risks, and provide visibility, oversight and assurance.

For more information, call 320.286.5870, email or visit

(1) Gartner Research, Magic Quadrant for Finance Governance, Risk and Compliance Management Software, 2007, by French Caldwell and Tom Eid, February 1, 2007.

Contact Information

  • Press Contact:
    Stacey Billy
    Paisley Consulting
    Email Contact