FAonDemand News Letter August 2008

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October 2008

Volume 10

Customer Quote

"FAonDemand has been a great accounting service partner for us. For a growing venture funded company like ours, they provide the necessary diligence and promptness with accounting entries, receivables and payables and monthly reports. They allow us to scale our company without the need for bringing on a dedicated controller and/or accounting department.."
Anand Jagannathan
Founder/CEO iStorez Inc

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Heard at the CFO Rising West 2008.
" During this econominc crisis-- first, conserve cash, second make sure your line of credit is still available."

Fun Facts

The largest man-made lake in the U.S. is Lake Mead, created by Hoover Dam...

Don't get slammed by the rising dollar

For U.S. multinationals trying to sell in a slowing global economy, currency has been a hidden source of strength.

When the dollar was relatively weak, companies that do a lot of business abroad - Cola Cola, 3M and Philip Morris International, to name a few - saw profits increase when converted from foreign currencies into U.S. dollars.>>

Dealing With The Next Crisis: Credit Cards

The mortgage meltdown is by no means over, but now consumers need to brace for another economic crisis--credit cards.

According to the consumer Web site Credit.com, at the end of last year, U.S. consumers owed more than $961 billion in credit card debt. Although not as large as the $11 trillion mortgage market, that's still a lot of lost cash and lenders are starting to feel the consequences of the huge lines of credit they have been allowing. American's have been borrowing more money than they can pay back, and credit card companies have been there to support the habit every step of the way.">>

Oops. IRS issued $1.6 billion in fraudulent tax refunds

The Internal Revenue Service distributed roughly $1.6 billion in refunds to taxpayers who filed falsified tax returns in 2006 and 2007, despite efforts to stop them, according to a new report from the Treasury Department's inspector general. >>

Partner Highlight - Intacct

Intacct is a market and technology leader in on-demand financial management and accounting applications. The company’s award-winning solutions are used by thousands of businesses, from startups to public companies, and are designed to improve company performance and make finance more productive. Intacct automates key business processes from order entry through cash collection and procurement through vendor payment. The Intacct system includes accounting, contract management, revenue recognition, inventory, purchasing, vendor management, financial consolidation and financial reporting applications, all delivered over the Web via Software as a Service. Intacct is the only on-demand financial management solution seamlessly integrated with salesforce.com. As a company grows, Intacct’s deep and mature applications, SAS 70 Type II certification, and documented processes support Sarbanes-Oxley compliance for public enterprises.>>

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, Intacct, UBmatrix, Business Objects (Crystal Reports, Business Intelligence On Demand), and Adaptive Planning. With industry best practices and blended service delivery (onsite/onshore/offshore), FAonDemand has delivered significant (30-50%) and sustainable savings to its customers.