Paisley and QUMAS announce partnership

Paisley to leverage QUMAS DocCompliance™ as part of Paisley Enterprise GRC™

Minneapolis, Minn. and Jersey City, NJ — June 4, 2008 - Paisley and QUMAS, both leading providers of governance, risk and compliance (GRC) solutions, today announced a strategic partnership. In this partnership, Paisley will embed the QUMAS DocCompliance™ functionality as a feature of Paisley Enterprise GRC™, providing enhanced compliance management capabilities for Paisley and expanded market penetration for QUMAS.

QUMAS DocCompliance is a feature rich system for document lifecycle management which enables organizations to create, manage and securely store all content, reports and records as well as operate in a continuous state of compliance. The system automates and controls the review, approval, distribution and management of documents and policy changes and provides traceable accountability throughout the organization.

Paisley Enterprise GRC is a comprehensive audit, financial controls management, enterprise risk management, operational risk management, IT governance and compliance software solution purpose-built to address integrated governance, risk and compliance requirements.

Paisley has a strong, thirteen year heritage in the internal audit, risk management and financial controls software space across a broad horizontal market. For over a decade, QUMAS has been a market leader in compliance solutions for life sciences and financial services markets. In the December 2007 Forrester Wave: Enterprise Governance, Risk and Compliance Platforms, Q4 2007 (in which both Paisley and QUMAS were named leaders) analysts evaluated the QUMAS product suite and noted that the platform "was one of the top scorers in policy and procedure management"; and evaluated the Paisley Enterprise GRC platform and noted that it "was among the top products, with the highest overall scores in the category of risk and control management as well as general technical functionality."

"We see this as a relationship that joins together the complimentary functionality of the two leading enterprise GRC platforms," said Tim Welu, CEO of Paisley. "We are excited about the expanded policy management capabilities that the DocCompliance solution will bring and how it will enhance the Paisley Enterprise GRC solution. The addition of this functionality will further support the GRC convergence efforts of our clients and extend the value of our solution to all organizational consumers of compliance information."

"We are excited to enter into this strategic relationship with Paisley and see great opportunities for both organizations as a result," said Kevin O'Leary, CEO of QUMAS. "The QUMAS DocCompliance product offers significant complimentary functionality to Paisley Enterprise GRC. The Paisley relationship also provides a significant distribution channel for our solutions and expanded visibility of the QUMAS solutions in a very broad market."

About Paisley

Paisley is an industry leading provider of solutions for governance, risk and compliance (GRC) including comprehensive software solutions, training, and expert GRC professional services. The company's portfolio of software solutions includes Paisley Enterprise GRC™ and GRC on Demand™ which support the business processes of financial controls management, internal audit, operational risk management, compliance, IT governance, and enterprise risk management. Paisley GRC solutions are utilized by more than 1,400 large enterprise and mid-market organizations including 30% of the Fortune 500.

For more information, call 320.286.5870, email

About QUMAS -

QUMAS is the leader in Enterprise Governance, Risk and Compliance (GRC) with more than 250 customer deployments and over a decade of experience helping companies in highly regulated industries provide a proactive regulatory defense.

The QUMAS solution facilitates an informed, risk-based response to GRC challenges across the organization. QUMAS solutions channel and focus resources, providing better overall governance and predictability of business performance as well as meaningful reporting to stakeholders.

For more information, call 973.805.8600, email or visit

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