15 customisable OKR examples for Finance Operations
What are Finance Operations 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.
Crafting effective OKRs can be challenging, particularly for beginners. Emphasizing outcomes rather than projects should be the core of your planning.
We've tailored a list of OKRs examples for Finance Operations to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Finance Operations OKRs with AI
While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.
Feel free to explore our tools:
- Use our free OKR generator
- Use Tability, a complete platform to set and track OKRs and initiatives, including a GPT-4 powered goal generator
Our customisable Finance Operations OKRs examples
You will find in the next section many different Finance Operations Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).
Hope you'll find this helpful!
1. OKRs to reinforce innovation within the finance department operations
Reinforce innovation within the finance department operations
Implement 2 process improvement technologies enhancing efficiency by 25%
Research the best technologies for enhancing processes
Identify areas that need improvement for better efficiency
Implement selected technologies and monitor results
Achieve a 15% increase in departmental productivity from continuous improvement initiatives
Launch team-building exercises for improved collaboration
Implement workflow software to optimize daily operations
Conduct regular employee training sessions
Conduct 5 innovative idea sharing workshops leading to 10 actionable strategies
Identify topics and structure for 5 idea sharing workshops
Plan and conduct each workshop targeting innovative idea generation
Select and finalized 10 actionable strategies from generated ideas
2. OKRs to instill a high-performance culture in Finance Operations
Instill a high-performance culture in Finance Operations
Elevate employee job satisfaction rate to 90% via targeted development programs
Initiate regular feedback sessions to identify employee issues and concerns
Implement rewards and recognition system to acknowledge outstanding performance
Develop tailored training programs focusing on employee skill enhancement
Reduce financial reporting errors by 15% to ensure accuracy
Provide staff with additional training on financial reporting
Adopt automated financial reporting software to minimize manual errors
Implement a double-checking system for all financial reports
Increase department's monthly revenue by 10% through process efficiencies
Identify and eliminate unnecessary processes in the workflow
Train staff on new, streamlined procedures
Implement more efficient, cost-saving technology
3. OKRs to optimize financial operations for strategic partnerships and alliances
Optimize financial operations for strategic partnerships and alliances
Improve financial reporting accuracy for partnerships and alliances by 20%
Regularly review and adjust the reporting process
Implement robust data verification systems for financial records
Offer refresher training on financial reporting standards
Implement collaborative tools and processes to increase efficiency by 25%
Research and select collaborative tools suited for our operations
Monitor usage and productivity weekly for improvements
Develop and deliver thorough training on chosen tools
Reduce processing cost of partnership transactions by 15%
Implement automated systems for streamlined partnership transactions
Negotiate lower fee rates with third-party payment processors
Optimize operational processes to increase transactional efficiency
4. OKRs to improve financial operations for increased efficiency and effectiveness
Improve financial operations for increased efficiency and effectiveness
Implement a new budgeting strategy, ensuring 95% adherence to it
Conduct training on new budget adherence
Develop comprehensive, realistic budget strategy
Regularly monitor and assess budget compliance
Reduce operational costs by 10% through optimizing resource allocation
Implement optimization strategies for resource allocation
Evaluate success metrics post-implementation
Analyze current resource distribution for inefficiencies
Increase return on investment by 15% via strategic financial decisions
Implement cost-cutting measures across all departments
Evaluate and identify profitable long-term investment opportunities
Restructure high-cost debt to reduce expenditure
5. OKRs to streamline financial processes for enhanced profit growth
Streamline financial processes for enhanced profit growth
Increase net profit margin by 10% through operational efficiencies
Increase pricing strategy efficiency to boost profit
Streamline supply chain to reduce operational expenses
Implement cost-saving measures in production processes
Improve financial forecasting accuracy by 15% through use of advanced analytics
Train staff on accurate use of analytics tools
Continually assess and refine forecasting model accuracy
Implement advanced analytics software for financial forecasting
Implement two new innovative cost-reduction strategies by the end of the quarter
Develop a detailed plan for implementation
Research and identify potential cost-reduction strategies
Execute and monitor the new strategies
6. OKRs to streamline and expedite cost allocation computation process
Streamline and expedite cost allocation computation process
Decrease computation process by 30% through automation or process enhancement
Design and implement automation scripts or software
Identify areas where automation can reduce computational processes
Evaluate and tweak enhancements for optimal efficiency
Successfully complete 100% of cost allocation computations by day 3
Review and finalize computations by day 3
Start cost allocation computations on day 1
Dedicate sufficient time and staff to computations
Develop a plan to optimize the computation method within the first 2 weeks
Identify current computation inefficiencies
Implement and test the chosen method
Research alternative, optimized computation methods
7. OKRs to enhance capital management for optimal value creation
Enhance capital management for optimal value creation
Achieve 5% reduction in capital waste by streamlining operations
Develop streamlined processes for identified wasteful operations
Review all operations to identify sources of capital waste
Implement, monitor, and adjust streamlined processes as necessary
Reduce total capital expenditures by 15%
Analyze current capital expenditures for possible cost reductions
Restructure financial plans, prioritizing essential capital investments
Limit investing in new equipment or infrastructure
Increase return on invested capital by 10%
Implement efficiency strategies to cut operational costs
Identify underperforming investments and reallocate funds
Explore new investment avenues with higher returns
8. OKRs to boost finance operations to increase brand visibility and market influence
Boost finance operations to increase brand visibility and market influence
Improve customer satisfaction rates by 25% through streamlined billing processes
Train staff on new streamlined billing processes for better efficiency
Regularly solicit and act upon customer feedback on billing experience
Implement automated, error-free billing system to enhance accuracy
Increase investor presentations by 40% to expand brand visibility
Schedule 40% more investor presentations each week
Create more engaging content for additional investor presentations
Utilize various platforms for hosting investor presentations
Implement new finance software to reduce errors by 30%
Train employees on the new system usage
Research and select suitable finance software
Monitor and evaluate error reduction efforts
9. OKRs to implement cost savings/automation initiative
Implement cost savings/automation initiative
Develop detailed implementation plan for chosen initiative by week 8
Identify objectives and deliverables of the chosen initiative
Assign roles and responsibilities related to the plan
Develop comprehensive timeline for each task by week 8
Identify 3 potential areas for cost savings/automation by week 4
Review current expenditures to identify key cost areas
Analyse processes for potential automation
Identify inefficiencies within procedures
Achieve 10% cost reduction or time savings via the implemented initiative by week 12
Set clear goals for the initiative focusing on cost reduction
Adapt and improve strategies according to progress
Regularly track and evaluate the initiative's performance
10. OKRs to ensure cost-efficiency at Wonderfly Arena
Ensure cost-efficiency at Wonderfly Arena
Negotiate vendor contracts to achieve at least a 10% reduction in expenses
Initiate negotiation meetings with selected vendors
Prepare negotiation strategies and proposals focusing on cost reduction
Analyze existing vendor contracts and identify over-expensive areas
Implement a new tracking system for accurate financial record keeping
Research the best financial tracking systems available
Train staff on how to use the new system
Purchase and install selected financial tracking system
Reduce operational costs by 15% through optimization of resources
Consolidate work tasks to maximize staff productivity
Implement energy-saving measures in all premises
Automate repetitive processes to minimize manual labor
11. OKRs to increase company profitability
Increase company profitability
Achieve a 10% reduction in operating costs through efficiency improvements
Identify wasteful practices in the current operational process
Implement new efficiency-enhancing technologies
Train staff on cost-saving practices and procedures
Increase net revenue by 15% via new customer acquisition strategies
Conduct market research to identify potential customer segments
Offer incentives for referrals to generate new clients
Develop and implement a targeted digital marketing campaign
Implement cost-saving measures to decrease overhead expenses by 8%
Develop strategies to reduce miscellaneous office expenditures
Review and analyze current overhead expenses in detail
Optimize energy usage to minimize utility bills
12. OKRs to meet or exceed financial and operational milestones for investor confidence
Achieve investor confidence by meeting financial and operational milestones
Achieve X% growth in user base through targeted marketing and product enhancements
Increase revenue by X% through new customer acquisition and increased sales
Improve customer satisfaction score by X% through enhanced product features and customer support
Reduce operational costs by X% through process optimization and automation
13. OKRs to increase overall business profitability
Increase overall business profitability
Enhance product pricing to boost gross profit by 15%
Analyze competitors' pricing strategies for comparable products
Implement cost reduction measures to increase profit margins
Adjust pricing based on product demand and value perception
Implement process optimization strategies to cut operational costs by 7%
Identify and analyze areas with high operational costs
Evaluate the impacts regularly and make adjustments
Develop and apply process optimization strategies
Attain a 10% net profit margin by improving cost efficiency
Identify unnecessary costs and eliminate them
Implement more cost-effective processes and procedures
Train employees on cost efficiency practices
14. OKRs to increase financial sustainability of our non-profit organisation
Increase financial sustainability of our non-profit organisation
Secure funds for 2 years of operation by applying to at least 10 grants
Prepare and finalize grant applications
Research potential grants suitable for business operations
Submit applications to a minimum of 10 grant bodies
Raise $50,000 in fundraising campaigns by targeting corporate sponsorship and public donations
Launch campaign to solicit public donations
Develop compelling sponsorship packages to attract sponsors
Identify potential corporate sponsors for targeted outreach
Decrease operational expenses by 10% through cost-effective resource utilization
Renegotiate supplier contracts for favorable terms
Implement energy-saving practices across operations
Identify underutilized resources and reassign for maximum efficiency
15. OKRs to develop and implement an impactful spending proposal
Develop and implement an impactful spending proposal
Obtain approval for the final spending proposal from all necessary department heads
Collect approval signatures from every department head
Arrange a meeting to present and discuss the proposal
Draft final spending proposal for department heads' review
Research and benchmark 3 successful spending proposals from like companies
Obtain and analyze these companies' spending proposals
Identify three similar companies with successful spending proposals
Record findings and draw parallels to inform our proposal
Assemble a comprehensive draft proposal with at least 30 operational line items
Create a list of minimum 30 operational line items
Include those operational line items in the draft
Write a comprehensive draft proposal
Finance Operations OKR best practices to boost success
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
The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the 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.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/tability-insights-board.e70f9466.png)
Tip #2: Commit to weekly OKR check-ins
Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.
Being able to see trends for your key results will also keep yourself honest.
![Tability Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/checkins-graph.b2aec458.png)
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 turn your Finance Operations OKRs in a strategy map
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
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, once you get comfortable you can graduate to a proper OKRs-tracking tool.
![A strategy map in Tability](https://tability-templates-v2.vercel.app/_next/static/media/tability_strategy_map.2ad25843.png)
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 Finance Operations OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to maximize efficiency of the sales operations department
OKRs to boost client engagement in our analytics services
OKRs to foster higher productivity through effective team collaboration
OKRs to streamline graphic design processes
OKRs to enhance the efficiency and accuracy of our web crawler
OKRs to improve Advisory NPS through baseline measurement and analysis
OKRs resources
Here are a list of resources to help you adopt the Objectives and Key Results framework.
- To learn: What is the meaning of OKRs
- Blog posts: ODT Blog
- Success metrics: KPIs examples
Create more examples in our app
You can use Tability to create OKRs with AI – and keep yourself accountable 👀
Tability is a unique goal-tracking platform built to save hours at work and help teams stay on top of their goals.
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