Paisley

About Paisley

Paisley operated as a specialized software provider focused on Governance, Risk, and Compliance (GRC) solutions before its acquisition. The company was founded in 1995.

The firm's core business involved developing and marketing software that enabled organizations to manage financial controls, internal audits, operational risks, and overall enterprise risk management. Paisley catered primarily to multinational corporations, large accounting and consulting firms, and governmental agencies. Its client roster included 30 percent of the Fortune 500 companies. Revenue was generated through the sale of its web-based enterprise software and Software-as-a-Service (SaaS) products, offered in eight languages.

Paisley's main product was its Enterprise GRC platform, an integrated suite built on a single data repository. This platform provided distinct components for financial controls management, internal audit, operational risk management, IT governance, and compliance. A key feature was its ability to offer shared functionalities for risk assessment, reporting, and issue tracking across different business units, thereby streamlining compliance processes and breaking down internal data silos. The software could be deployed either on-site or as a hosted solution.

In a significant milestone, Thomson Reuters announced its definitive agreement to acquire Paisley on December 3, 2008, with the deal closing on December 31, 2008. At the time of the acquisition, the Plymouth, Minnesota-based company employed approximately 230 people. Following the acquisition, Paisley became part of Thomson Reuters' Tax & Accounting business division. The integration aimed to combine Paisley's GRC software with Thomson Reuters' existing solutions, such as Checkpoint and ONESOURCE, to offer clients a comprehensive tool for managing financial regulations and internal controls.