Paisley Consulting Inc., a maker of compliance and risk management software, introduced a new product that can bring together the many disparate users of regulatory data throughout an organization onto a single shared platform. The Paisley Solution integrates two of the Cokato, Minn.-based company's core products, AutoAudit and Risk Navigator, with other enhancements to bring new efficiencies to compliance management, and document use and retention.

The result is an integrated compliance architecture that allows internal audit, risk management and compliance teams to eliminate redundancies in data gathering and analysis and bring more

order to the remediation process. "A lot of crossing over by these groups is very hard to facilitate when they are working in their own silos," says Paisley President and CEO Tim Welu. "[The Paisley Solution] allows the organization to set up and create a standard set of definitions around their organizational entities and processes and work from a common library of risks and controls." Everyone works off a core set of forms and documents that contain common definitions, say, of what procurement is, the sub-processes involved, who owns the process in terms of responsibility and what risks and controls are in place. The separate teams can create their own specialized processes within the system that feed into it, for their work papers, testing, actions plans and document repositories. The system can also receive documentation inputs from business managers and control which users are allowed to make changes.