FAonDemand News Letter July 2008

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July 2008

Volume 7

Customer Buzz
“FAOnDemand was able to provide us true “on demand” services that exceeded my expectations. Due to business needs we required finance personnel assistance in India and FAOnDemand was able to deliver quality candidates at a moments notice. I plan to use FAOnDemand in the future as needs arise and recommend their services for companies of all sizes.”

Steve Lo, CPA, Corporate Controller CollabNet

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Acrophobias Stay Away.
Want to know how it feels to look down Grand Caynon suspended on a glass bridge!. >>

Fun Facts!
Why does wet fabric appear darker?
When fabric gets wet, light coming towards it refracts within the water, dispersing the light. In addition, the surface of the water causes incoherent light scattering. The combination of these two effects causes less light to reflect to your eyes and makes the wet fabric appear darker

IFRS and When

Scott Leibs and Tim Reason
CFO Magazine

The curtain has risen, the band is playing — but when, precisely, will international financial reporting standards (IFRS) take center stage?

That's the question on the minds of companies, academics, audit firms, and virtually every other entity remotely connected with corporate finance. There is growing speculation that the Securities and Exchange Commission will set a date as early as mid-August, which many say is not a moment too soon.>>

FAO 2.0: The Next Generation

By Lisa Ross

As the market matures and more companies explore the FAO option, a shift is emerging in buyers’ approach to FAO. In 2008, FAO is being embraced as a transformational lever—to get costs, processes, compliance, and business strategies in line with operations. Cost reduction and process efficiency are still key drivers for FAO, but buyers are adopting a wider scope of contracted services upfront and are expanding existing engagements as their confidence builds and better-than-expected benefits are achieved.>>

Managing the Currency Exchange Risk in FAO

Paul Nowacki & Saurabh Gupta

Amid rising acceptance of global sourcing to create organization-wide impact, currency fluctuation has emerged as a real problem. The Indian rupee is at a 10-year high relative to the U.S. dollar with an increase of more than 6 percent in less than a year (Figure 1). Currency fluctuation has adversely impacted Indian exporters—including outsourcing service providers. The impact of currency exchange risk on an FAO deal can be significant. The exposure of the FAO market to the rising Indian rupee against the U.S. dollar is high.>>

Customer Highlight - Case Central

Trying to reduce your eDiscovery costs?

CaseCentral delivers proven, on-demand evidence management platforms to corporations and law firms. Our software is backed by responsive, litigation-savvy strategic consulting, process, and support services. We empower our customers to support a repeatable business process for litigation and regulatory response - reducing risk and business disruption, boosting productivity, and controlling costs.>>

About FAonDemand

FAonDemand® provides integrated Business Process (BP) and Information Technology (IT) services in areas of Finance & Accounting, OnDemand Applications such as Oracle, Salesforce.com, Sugar CRM, NetSuite, UBmatrix, Business Objects (NSite, Crystal Reports, Business Intelligence On Demand), and Adaptive Planning. With industry best practices and an onsite, onshore and offshore blended, On Demand, services model, FAonDemand has delivered significant (30-50%) and sustainable savings to its customers.