Decrease days payable outstanding for better cash flow management
A starting point for clearer priorities and measurable progress. Make the targets your own.
Suggested timeframe: Set with your team1 objective · 3 key results
YOUR STARTING POINTTeam OKRs
OBJECTIVE
Decrease days payable outstanding for better cash flow management
KR 1
Implement automation tools in 80% of payable systems
KR 2
Achieve 25% faster dispute resolution for payable invoices
KR 3
Reduce average invoice processing time by 30%
Ideas to get you moving
Select appropriate automation tools for these systems
Identify payable systems suitable for automation
Train staff on the usage of these tools
Train staff in effective dispute resolution techniques
Regularly review and streamline dispute policies
Implement a centralized dispute management system
Streamline approval workflows for quicker turnarounds
Train staff on efficient invoice handling procedures
Implement automated invoice processing software
Example targets. Adapt to your baseline before you start.
About this template
The primary goal of the OKR is to improve cash flow by reducing days payable outstanding. To meet this objective, the company plans to automate 80% of payable systems. This involves selecting suitable automation tools, identifying payable systems for automation, and training staff on tool usage.
Furthermore, the OKR contains an objective of resolving payable invoice disputes 25% faster. The proposed measures include staff training on effective dispute resolution tactics, routine review and reformation of dispute policies, and the design and implementation of a centralized dispute management system.
The third part of the OKR aims to decrease average invoice processing time by 30%. This would be achieved through streamlined approval workflows for quick turnarounds, staff training on efficient invoice handling tactics, and the utilization of automated invoice processing software.
Overall, the OKR promotes better cash flow management through optimization of the payable process. It emphasizes on the use of automation and the development of staff skills within the organization. The proposed measures are expected to make the process more efficient and effective.
Make it work for your team
01
Set your baseline. Check where you are today, then choose targets that stretch your team.
02
Agree on ownership. Give each key result a clear owner and a source of data.
03
Check in every week. Review the numbers, share confidence, and decide what needs attention.
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title: Decrease days payable outstanding for better cash flow management
objectives:
- title: Decrease days payable outstanding for better cash flow management
outcomes:
- title: Implement automation tools in 80% of payable systems
from: 0.0
to: 100.0
score_format: _number_%
initiatives:
- title: Select appropriate automation tools for these systems
- title: Identify payable systems suitable for automation
- title: Train staff on the usage of these tools
- title: Achieve 25% faster dispute resolution for payable invoices
from: 0.0
to: 100.0
score_format: _number_%
initiatives:
- title: Train staff in effective dispute resolution techniques
- title: Regularly review and streamline dispute policies
- title: Implement a centralized dispute management system
- title: Reduce average invoice processing time by 30%
from: 0.0
to: 100.0
score_format: _number_%
initiatives:
- title: Streamline approval workflows for quicker turnarounds
- title: Train staff on efficient invoice handling procedures
- title: Implement automated invoice processing software
Team OKR example
Suggested timeframe: Set with your team
1 objective · 3 key results
Example targets. Adapt to your baseline before you start.