COKATO, Minn. - Nov. 29, 2005 - Paisley Consulting, the recognized leader in business accountability software, today announced that it has achieved record third-quarter results by more than doubling customer and revenue growth over the same period in 2004. During the quarter, Paisley Consulting added more than 60 new customers, including National Life Group, Energen Corporation, Air France-KLM, and H. J. Heinz Company, as well as industry-leading companies in the retail, information technology, energy, manufacturing, telecommunications and financial services sectors. With this unmatched growth, Paisley Consulting expands its market leadership counting nearly seven times more customers--including 35% of the Fortune 100--than its nearest competitor. Led by its flagship software offering, The Paisley Solution, the industry's only integrated solution for Sarbanes-Oxley, enterprise risk management, internal audit and general compliance, Paisley Consulting is on pace to achieve record revenue growth for the year.
Paisley Consulting's record-setting third-quarter results comes on the heels of a recent report issued by Gartner, the world's leading provider of research and analysis of the global information technology industry, which concluded that "companies that select individual solutions for each regulatory challenge they face will spend 10 times more on IT portion of compliance projects than companies that take on a proactive and more integrated approach." In addition to reinforcing the need for The Paisley Solution, the report listed the company in the visionary quadrant, reserved for those companies that "have a solid understanding of the market as demonstrated by domain expertise and responsiveness to their customers' expectations."
"Paisley Consulting had a truly outstanding quarter. We continue to add significant and record numbers of new customers to our portfolio of premier companies who have realized substantive and measurable benefits from our suite of solutions," said Tim Welu, CEO of Paisley Consulting. "Paisley Consulting provides the only integrated solution for Sarbanes-Oxley, enterprise risk management, internal audit and general compliance. The validation of this model by Gartner reinforces our thought leadership and showcases our commitment to providing our customers with truly innovative and meaningful solutions."
Integrating two of the company's industry-leading software products, AutoAudit(R) and Risk Navigator(R), the Paisley Solution is the first available software platform to facilitate standardized, automated and collaborative processes between risk management, compliance, internal audit and business units. The Paisley Solution leverages best practices learned from hundreds of successful implementations, a single technology platform, and a central repository of control and risk data. The result is greater efficiency, improved collaboration, and reduced time and resource costs associated with risk management and compliance processes.
Developed for companies of every size and across multiple industries, Paisley Consulting's solutions can be implemented as an integrated whole for maximum value or may be deployed as individual point solutions. Either way, these best-of-value solutions can help reduce costs and target opportunities for continuous improvement.