QUMAS wins ISA Collaboration Award 2008

JERSEY CITY, NJ — November 11, 2008 - QUMAS, a leading provider of compliance solutions to highly regulated companies, today announced that it has been honored with the 2008 Collaboration Award by the Irish Software Association (ISA) for its partnership with Paisley. In the year that the ISA celebrates its 30th anniversary, the gala award ceremony was held in the Mansion House in Dublin by the ISA, where Kevin O'Leary, QUMAS CEO, accepted the award on behalf of QUMAS.

In June 2008, Paisley and QUMAS announced a strategic partnership where Paisley will embed the QUMAS DocCompliance™ functionality as a feature of Paisley Enterprise GRC™, providing enhanced content management capabilities for Paisley and expanded market penetration for QUMAS.

The QUMAS product strengths of Policy and Procedure Management, Compliance, and Investigations and Remediation Management greatly complement the Paisley product strengths of Internal Audit, Risk and Control Management, and Loss and Event Management. The extended policy management capabilities that DocCompliance brings to the Paisley Enterprise GRC solution will support the GRC convergence efforts of Paisley clients and will extend the value of the solution to all organizational consumers of compliance information.

"QUMAS has a proven and scalable solution that is applicable across a wide range of business sectors," said Kevin O'Leary, "This collaboration with Paisley allows us to extend our footprint, and to provide great business advantage to QUMAS, Paisley, and our shared clients".

The Paisley relationship provides a significant distribution channel for QUMAS solutions. Paisley has over 1,400 clients including 30% of the Fortune 500. "Through this OEM agreement QUMAS retains the ability to scale the integration beyond the Paisley GRC solution, to implement QUMAS compliance solutions throughout these new enterprises", said Caoimhe Kiely, Global Head of Marketing with QUMAS.

"As well as providing OEM revenue, this collaboration provides QUMAS with a new and extended prospect market".

Director of the ISA, Shane Dempsey concluded the awards ceremony by saying "The companies celebrated tonight demonstrate the ability of Irish companies to achieve global success. Indigenous software companies will increasingly play a greater role in creating value for the Irish economy. "

About QUMAS

QUMAS is the leader in Enterprise Regulatory Compliance Solutions with more than 250 global customer deployments and over a decade of experience helping companies in highly regulated industries. The QUMAS solution facilitates an informed response to Compliance challenges across the organization, and provides better overall governance and predictability of business performance as well as meaningful reporting to stakeholders. 

For more information visit www.qumas.com

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