This past year, Al Lovata, chief executive of Be Our Guest Inc., cut expenses for his party-equipment rental business by laying off staff and reducing workers’ salaries. He credits an “outsourced” chief financial officer with helping him prepare for the worst of the economic downturn.

The Boston-based company had sales growth in the double digits for the past few years, when revenue fell flat last fall. Now, thanks to the part-time CFO’s guidance, the company is stable with revenue down 20% to 30%, but profitability higher than in the previous months, he says.

If we hadn’t had this service, “we would still be struggling,” Mr. Lovata says.

See the full Wall Street Journal article here: http://online.wsj.com/article/SB125358186243529783.html

If the recession has taught companies anything, it’s that cost-containment is key to survival. A survey conducted by Veritude in 2009 showed that only 3 percent of companies with more than 2,000 employees planned to return to their pre-recession staffing matrix.

Staffing companies, freelance job boards and temporary help agencies are experiencing record growth as companies turn to outsourcing for a pay-as-you-go workforce.

Check out the rest of the article here http://www.openforum.com/idea-hub/topics/money/article/can-you-save-money-by-outsourcing-kate-lister

http://raleigh.skirt.com/he%27s_so_original/matthew-illuzzi-%E2%80%93-fearless-entrepreneur

Q. Describe the planning leading up to your launch?
A. Having worked as the head of finance at mid size organizations, I recognized the value that a strong financial background can bring to the company. I saw a need in the market for smaller companies that could not afford a full time resource, but would have great benefit from this level of service. Prior to quitting my full time job and launching New Day, I did my best too make sure all of the background work was in order – incorporated as an LLC, developed the website, trademarked the company name & logo, etc. Then I sent out a press release and started to get the word out about the services that I am providing.

Q. What market need do you fill?
A. New Day Business Advisors® was founded because I wanted to use my years of experience to help small businesses reach their goals. At New Day, our top priority is building lasting relationships to help business leaders maximize their strengths. New Day offers practical and innovative solutions in the areas of strategy & planning; operational effectiveness; human capital; accounting & compliance; marketing communications. New Day is able to provide a senior level of thinking to a company at a fraction of the cost of a full time CFO.

Q. What is your and your team’s background?
A. A highly analytical, forward-thinking leader in Operations and Finance, Matthew Illuzzi founder of New Day Business Advisors®, brings with him a wealth of experience. Illuzzi worked various roles in accounting, finance and operations for the past 11 years as the CFO & Director of Operations at an international branding firm, as Director of Finance at a regional distribution company and as an Auditor with Arthur Andersen. He is a Certified Public Accountant in both North Carolina & New York and serves on the advisory board of Hemera Financial Solutions.

Q. How are you funded and what is your revenue model?
A. New Day Business Advisors® believes in a value based revenue plan. We do not bill clients by the hour, rather we determine the benefit that we can provide our clients and determine our fees based on each service provided. The Company is privately owned and financed.

Q. What is the importance of being based in Raleigh?
A. Raleigh is a growing market, even in a down economy. With a high number of entrepreneurs and small thriving companies, the Triangle provides for ample opportunities for companies like New Day to add value and succeed. The exceptional level of talent & access to world class universities combined with a reasonable cost of living and a wonderful family atmosphere make the Raleigh market a key to our business plan.

New Day’s mission is to provide small and mid size companies with the organizational game plan needed to get off the ground running or as the company moves into the next phase of development.  New Day helps management focus on strategic planning by setting realistic goals, thus helping their business succeed in today’s turbulent business market.

“I started New Day Business Advisors® because I wanted to use my years of experience to help small businesses reach their goals,” said Illuzzi.  “At New Day, our top priority is building lasting relationships to help business leaders maximize their strengths.”

New Day offers practical and innovative solutions in the areas of strategy & planning; operational effectiveness; human capital; accounting & compliance; marketing communications.

“Having Matt Illuzzi as our Director of Operations allowed me to focus on growing the business,” said Karl Heiselman, CEO, Wolff Olins.  “During his tenure at Wolff Olins, we were able to grow our revenue each year and achieve our targets. Matt was involved in all key decisions at the agency, acting as my right hand with regards to important business negotiations, long-term planning and financial analysis.”

Prior to launching New Day Business Advisors®, Illuzzi worked as director of finance and operations at a family owned and operated regional distribution company in Apex, North Carolina where he was responsible for organizing the transition of the day to day management of the company.

Illuzzi graduated cum laude from the Business School at Rutgers University and is a Certified Public Accountant in both North Carolina and New York.  He is on the advisory board of Hemera Financial Services and a member of the AICPA.