OKR template to improve overall finance and accounting performance
Your OKR template
Another necessary measure for achieving this goal is a 15% reduction in invoice processing errors per month. To achieve this, the department must establish an exhaustive double-checking system for all invoices, switch to an automated invoice processing system that is impervious to errors and implement comprehensive training for the invoice processing team.
The last objective aimed at improving the overall finance and accounting performance is a 20% increase in the accuracy of financial reporting. The department can achieve this by intensifying the training for those responsible for financial reporting, implementing regular internal audits to ensure the accuracy of the financial information, and updating or upgrading the existing financial system or software.
This OKR is important as it will result in an efficient and accurate finance and accounting department that will save the company money, reduce any finance-related issues, and ultimately lead to an improved overall company performance.
ObjectiveImprove overall finance and accounting performance
KRIncrease department cost efficiency by 15%
Regularly monitor and assess cost-saving progress- Develop and implement a cost-saving strategy
- Identify areas of wastage and inefficiency within the department
- KRDeliver 15% reduction in monthly invoice processing errors
- Establish a stringent double-checking system for all invoices
- Upgrade to automated, error-proof invoice processing software
- Implement comprehensive training for invoice processing team
- KRImprove financial reporting accuracy by 20%
- Enhance training for the staff in charge of financial reporting
- Implement regular internal audits to check financial accuracy
- Update existing financial software or systems
How to edit and track OKRs with Tability
You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.
Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.
With Tability you can:
- Use AI to draft a complete set of OKRs in seconds
- Connect your OKRs and team goals to your project
- Automate reporting with integrations and built-in dashboard
Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.
The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.
Step 1. Sign up for a free Tability account
Go tohttps://tability.app/signup and create your account (it's free!)
Step 2. Create a plan
Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.
Step 3. Use the magic importer
Click on Use magic import to open up the Magic Import modal.
Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.
Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!
Now, just click on Import from text and let the magic happen.
Once your example is in the plan editor, you will be able to:
- Edit the objectives, key results, and tasks
- Click on the target 0 → 100% to set better target
- Use the tips and the AI to refine your goals
Step 4. Publish your plan
Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.
From there you will have access to all the features that will help you and your team save hours with OKR reporting.
- 10+ built-in dashboards to visualise progress on your goals
- Weekly reminders, data connectors, and smart notifications
- 9 views to map OKRs to strategic projects
- Strategy map to align teams at scale