FTVentures announced this week that we have partnered with Ellen Zimiles, a global expert on anti-money laundering, and Joseph Spinelli, a leading authority on white-collar crime, to form Daylight Forensic & Advisory LLC, an independent fraud risk management firm conducting forensic investigations and providing regulatory compliance advisory services to corporations and the public sector worldwide. FTVentures invested $30 million in Daylight, which was founded to meet the rapidly increasing demand for forensic and advisory services unencumbered by independence issues. The financial institutions that make up our Global Partner Network are facing mounting complexities posed by fraud risk management and compliance challenges and Daylight is well-positioned to help institutions navigate these challenges.
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For more information about Daylight Forensic & Advisory LLC, please contact:
Mohit Daswani
mdaswani@ftventures.com
(415) 229-3072
For the last two years, analysts have been predicting a China outsourcing boom. Large international companies are looking to China for its labor arbitrage (5:1 savings over the U.S. and 50% savings over India) and massive IT talent pool (four times the number of engineering graduates versus the U.S.).
FTVentures portfolio company, Freeborders, is proving that China providers are also ready to deliver award-winning quality to major global companies.
In June, Freeborders won the 2006 Outsourcing Excellence Award in the category of Best European collaboration for its relationship with worldwide fiber manufacturer, INVISTA. The Outsourcing Excellence Award is an annual program sponsored by Forbes Magazine and the Everest Group. Freeborders is the first China IT outsourcing provider to win the Outsourcing Excellence Award. Other winners include industry heavyweights Accenture, HP Global Services, Perot Systems and Wipro.
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For more information about Freeborders, please contact:
or visit www.freeborders.com.
FTVentures has been actively focused on the human resources ("HR") services industry and has recently invested in this space (see Capital H Group in left hand column). We remain engaged in this market, as we believe that demand for HR services will continue to experience healthy growth as board rooms grapple with a range of HR-related challenges.
HR services is generally divided between consulting and outsourcing services. HR consulting services include solutions which help organizations optimize their workforce through various HR methodologies, such as process redesign and reengineering, organizational design, benefits and compensation program design, HR measurement and balance scorecard. HR outsourcing services involve the processing, management, and administration of any HR process or function, such as payroll, benefits administration, vendor management, recruiting administration, training strategy and administration and performance management. The HR services market is highly fragmented and is served by a variety of competitors including traditional HR consulting companies, units of large insurance and financial firms, IT consulting and services companies, audit/tax firms, and staffing and recruiting companies.
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