LEI St. Louis Chapter President Timothy Vosse Discusses Decreasing Operating Costs
WFF Facility Services Senior VP of Finance Timothy Vosse joined Jason Smith and Kevin Price on the Price of Business to discuss how CFOs can lower operating costs while increasing revenue. Mr. Vosse, who is also the President of Financial Executives International’s St. Louis Chapter, offered some suggestions on how companies could add revenue to their business while maintaining administrative costs.
As the Senior VP of Finance at WFF Facility Services, a company that provides commercial custodial and janitorial services to colleges and universities, Mr. Vosse pointed out that cutting operating costs and maximizing the bottom line is important to the role of a CFO. He also noted that multiple strategies should be utilized in order to achieve maximum results. Jason Smith commended Mr. Vosse on being described as “a creative individual who consistently streamlines procedures and operations to increase efficiency to decrease cost while maintaining customer service approach”.
Timothy Vosse offered suggestions on how CFOs can implement change within their organizations by reviewing current processes and incorporating the use of technology to drive efficiency. Mr. Vosse recommends keeping administrative costs the same while not adding additional labor costs. In order to add revenue and growth, he suggests using technology solutions and tools such as cloud-based services to manage administrative processes.
As the President of FEI, St. Louis, Mr. Vosse and a group of CFOs from various businesses join together to network and exchange on ways to improve business through finance, operations, and executive functions while discussion the best practices in managing operating costs. FEI, St. Louis currently has 100 members and the organization has 86 chapters across the U.S., Canda, and Japan. Listen to more from Timothy Vosse as he discusses helping CFOs run a tight ship on The Price of Business with Kevin Price and Jason Smith.