SOURCE: Paisley

October 24, 2007 09:00 ET

Paisley Continues Record Year With Strong Third-Quarter Results, Expanding Its Leadership Position in Governance, Risk and Compliance

MINNEAPOLIS, MN--(Marketwire - October 24, 2007) - Paisley, a recognized leader in governance, risk and compliance (GRC) software, today announced that it has achieved strong third-quarter results driven by new customer wins and a 63 percent increase in hosted and Software as a Service (SaaS) delivered solutions.

During the quarter, Paisley added more than 20 new customers from industry-leading companies in the banking, insurance, retail, service and manufacturing sectors. Led by strong sales of Paisley Enterprise GRC™, a complete governance, risk and compliance solution for large enterprise customers, and GRC on Demand™, a comprehensive governance, risk and compliance solution delivered via a SaaS model, Paisley is on pace to achieve record revenue growth for the year.

"We continue to experience record market demand for our GRC solutions," said Tim Welu, CEO of Paisley. "Our rapid growth this quarter was fueled by the acquisition of new, blue-chip clients in a variety of industries. Organizations throughout the world continue to choose our solutions to help them implement an integrated GRC strategy that ties together internal audit, risk management and compliance efforts across the enterprise."

In addition to reporting solid financial performance, the company was once again recognized as one of the fastest growing privately held firms in the U.S. Named to the prestigious Inc. list for the fourth time in the past five years, Paisley was the only governance, risk and compliance solutions vendor recognized on this year's list.

About Paisley

Paisley is an industry-leading software vendor that provides solutions for governance, risk and compliance including financial controls management, internal audit, operational risk management, compliance, IT governance and enterprise risk management. For more than a decade, Paisley 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 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'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

Contact Information

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