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3 OKR examples for Accounting Process Efficiency

What are Accounting Process Efficiency OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.

We have curated a selection of OKR examples specifically for Accounting Process Efficiency to assist you. Feel free to explore the templates below for inspiration in setting your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Building your own Accounting Process Efficiency OKRs with AI

How to create great OKRs for any scenario in seconds

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

  • 1. Go to Tability's plan editor
  • 2. Click on the "Generate goals using AI" button
  • 3. Use natural language to describe your goals

Tability will then use your prompt to generate a fully editable OKR template.

How to improve existing OKRs with AI feedback

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

  • 1. Go to Tability's plan editor
  • 2. Add your existing OKRs (you can import them from a spreadsheet)
  • 3. Click on "Generate analysis"

AI feedback for OKRs in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Using the free OKR generator to get a quick template

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Our Accounting Process Efficiency OKRs examples

You'll find below a list of Objectives and Key Results templates for Accounting Process Efficiency. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.

Hope you'll find this helpful!

1OKRs to streamline the accounting close process

  • ObjectiveStreamline the accounting close process
  • KRImplement automated accounting software with 100% staff adoption
  • TaskMonitor staff adoption, offer ongoing support
  • TaskSelect user-friendly, comprehensive accounting software
  • TaskTrain staff thoroughly on software usage
  • KRDecrease the monthly closing cycle time by 30%
  • TaskStreamline data collection and management processes
  • TaskImplement automated financial systems for swift transaction processing
  • TaskRegularly review and improve workflow efficiency
  • KREliminate 50% of identified bottlenecks in the closing process
  • TaskImplement solutions to remove identified bottlenecks
  • TaskIdentify excessive processes contributing to bottlenecks
  • TaskReview and analyze current closing process parameters
Tability

2OKRs to achieve full productivity as a General Accountant

  • ObjectiveAchieve full productivity as a General Accountant
  • KRReduce weekly accounting errors by 50%
  • TaskImplement thorough double-checking procedures for all accounting tasks
  • TaskProvide additional training on accounting software usage
  • TaskInstantly address and correct identified accounting errors
  • KRScore at least 90% on internal accounting knowledge assessments
  • TaskStudy company's internal accounting policies daily
  • TaskPractice with past assessment tests for improvement
  • TaskSeek clarifications for any accounting concepts not understood
  • KRIncrease speed of invoice processing by 30%
  • TaskTrain staff in efficient invoice processing techniques
  • TaskStreamline invoice approval process
  • TaskImplement automation software for quick invoice management

3OKRs to improve the accuracy and efficiency of our tax and accounting processes

  • ObjectiveImprove the accuracy and efficiency of our tax and accounting processes
  • KRReduce errors in tax and accounting processes by 5%
  • KRIncrease accuracy of tax and accounting tasks by 5%
  • KRImprove customer satisfaction with tax and accounting services by A%
  • KRIncrease speed of tax and accounting tasks by 12%

Accounting Process Efficiency OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

How to track your Accounting Process Efficiency OKRs

The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. Reviewing progress periodically has several advantages:

  • It brings the goals back to the top of the mind
  • It will highlight poorly set OKRs
  • It will surface execution risks
  • It improves transparency and accountability

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

A strategy map in TabilityTability's Strategy Map makes it easy to see all your org's OKRs

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Accounting Process Efficiency OKR templates

We have more templates to help you draft your team goals and OKRs.