4 customisable OKR examples for Financial Automation

What are Financial Automation 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 Financial Automation 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 Financial Automation 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:

Our customisable Financial Automation OKRs examples

You will find in the next section many different Financial Automation 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. OKR to implement automation for recurring journal entries

  • ObjectiveImplement automation for recurring journal entries
  • Key ResultChoose and onboard an automation software/tool by end of the first month
  • TaskPurchase and install the selected software
  • TaskConduct initial setup and staff training
  • TaskResearch and select a suitable automation tool
  • Key ResultMigrate 50% of recurring entries to the automation system by the second month
  • TaskImplement necessary changes for automation integration
  • TaskAchieve 50% automation of recurring entries
  • TaskIdentify recurring entries eligible for automation
  • Key ResultAchieve 100% accurate automation for all recurring entries by the end of the quarter
  • TaskIdentify all processes involved in managing recurring entries
  • TaskRegularly audit and refine automation system
  • TaskImplement automation software tailored to those processes

2. OKR to complete the Financial Statement promptly

  • ObjectiveComplete the Financial Statement promptly
  • Key ResultStreamline the auditing and approval process by 15%
  • TaskImplement automated systems to expedite the auditing process
  • TaskReduce approval stages and unnecessary checks
  • TaskTrain staff to increase proficiency in audit procedures
  • Key ResultReduce errors in financial reporting by 20%
  • TaskProvide ongoing accounting training for staff
  • TaskImplement stricter internal audit protocols
  • TaskInvest in automated financial reporting software
  • Key ResultIncrease efficiency in data collection and processing by 30%
  • TaskStreamline data validation and consolidation processes
  • TaskTrain staff on efficient data management strategies
  • TaskImplement automated systems for data collection and processing

3. OKR to streamline and expedite cost allocation computation process

  • ObjectiveStreamline and expedite cost allocation computation process
  • Key ResultDecrease computation process by 30% through automation or process enhancement
  • TaskDesign and implement automation scripts or software
  • TaskIdentify areas where automation can reduce computational processes
  • TaskEvaluate and tweak enhancements for optimal efficiency
  • Key ResultSuccessfully complete 100% of cost allocation computations by day 3
  • TaskReview and finalize computations by day 3
  • TaskStart cost allocation computations on day 1
  • TaskDedicate sufficient time and staff to computations
  • Key ResultDevelop a plan to optimize the computation method within the first 2 weeks
  • TaskIdentify current computation inefficiencies
  • TaskImplement and test the chosen method
  • TaskResearch alternative, optimized computation methods

4. OKR to enhance the accounting, financial, and tax processes architecture

  • ObjectiveEnhance the accounting, financial, and tax processes architecture
  • Key ResultImplement a new accounting system, improving data accuracy by 30%
  • TaskImplement regular data accuracy checks
  • TaskTrain staff on new software operations
  • TaskResearch and choose an advanced accounting system
  • Key ResultDecrease tax-related errors by 20% through updated software integration
  • TaskTrain staff effectively on new software usage
  • TaskResearch and identify advanced tax software solutions
  • TaskImplement selected software into company systems
  • Key ResultIncrease process automation by 25% reducing manual efforts in financial tasks
  • TaskTrain all finance team members on new automated systems
  • TaskReview and adjust automation protocols regularly for efficiency
  • TaskImplement advanced accounting software for streamlined financial operations

Best practices for managing your Financial Automation OKRs

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 DashboardTability's audit dashboard will highlight opportunities to improve OKRs

Tip #2: Commit to the weekly 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 DashboardTability's check-ins will save you hours and increase transparency

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.

Best way to track your Financial Automation OKRs

Quarterly OKRs should have weekly updates to get all the benefits from the framework. 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

Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.

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 Financial Automation OKR templates

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

OKRs resources

Here are a list of resources to help you adopt the Objectives and Key Results framework.

Create more examples in our app

You can use Tability to create OKRs with AI – and keep yourself accountable 👀

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