We're all on Canadian time
It was a Canadian - Sir Sandford Fleming - who developed the system for keeping time around the World. He advocated the adoption of a standard time with hourly variations that were set in accordance with established time zones. He then convened the International Meridian Conference in 1884, where the international standard time system was adopted.
Little did he know how important such a system would be as the World grew so much smaller during the next 130 years with ubiquitous audio-visual communications and the advent of the "always on" marketplace. One massive advantage with this timing system for consultancies is that clients can take advantage of time zones and regular work days to quickly progress their projects. Having worked on many projects around the World, it has been a real benefit for clients to leave the office in the evening and to return the next morning with a full day's worth of work already awaiting them. As we're located on the edge of the earth out here in Vancouver, pretty much everyone is either way ahead or far behind us.
Of course, there are sometimes the inevitable Skype conversations taking place at 5am Pacific time, but this just goes with the territory.