Looking back, John Lutz doesn't hesitate to recall a strategic
turn along his career journey when, during his tenure as director
of finance at Charter Steel, he transitioned a cumbersome,
error-prone Excel model into an advanced, activity-based costing
system. By involving stakeholders from across the company, Lutz
tells us he not only gained buy-in but also unlocked the power of
teams to create a tool that transformed the way the business
operated, enhancing both efficiency and profitability.
Years later, as CFO of Sellars, a manufacturer of household
products and supplies, Lutz spearheaded efforts to modernize the
company’s data infrastructure. “We’ve come a long way in two
years,” says Lutz, who tells us that in the not-too-distant past,
the company’s data storage strategy involved a row of filing
cabinets. Along the way, real-time dashboards replaced static
reports, enabling instant access to crucial data. These changes,
Lutz explains, turned the finance department into a strategic
partner that proactively identified and addressed issues.
His commitment to leveraging technology hasn’t stopped there, as
he looks to introduce robotic process automation to streamline
repetitive tasks, freeing up his team to focus on higher-value
activities. Extending beyond internal collaborations, his approach
to empowering teams was further evidenced by his close cooperation
with supply chain partners to optimize procurement processes and
nurture long-term, sustainable relationships.
Lutz's CFO mindset exemplifies how embracing the power of teams
and technology can drive transformative change. By fostering
collaboration, leveraging data, and empowering his team, Lutz says
he has been able to propel organizations forward, demonstrating
that finance can be a catalyst for strategic growth and
innovation.
