5 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.

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. OKRs to implement automation in financial reporting

2. OKRs to implement automation for recurring journal entries

3. OKRs to complete the Financial Statement promptly

4. OKRs to streamline and expedite cost allocation computation process

5. OKRs to enhance the accounting, financial, and tax processes architecture

Financial Automation 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's audit dashboard will highlight opportunities to improve OKRs

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'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.

How to turn your Financial Automation OKRs in a strategy map

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.

Tability'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 to successfully complete 80% of the content project
  content-qualityproductivity-enhancementeditorcontent-creatorcontent-production-teamediting-team
• OKRs to improve efficiency & accuracy of invoice monitoring
  invoice-monitoringefficiency-improvementdebt-collection-officerinvoice-processing-stafffinance-teambilling-team
• OKRs to strengthen strategic partnership for maximum business growth
  strategic-partnershipmarket-expansionpartnership-managermarket-strategistmarketing-teamsales-team
• OKRs to reduce turnover rate through retention strategies
  retentionemployee-turnoverhr-managerteam-leadshr-teamemployee-engagement-team
• OKRs to improve mobile user experience for our ecommerce website
  mobile-user-experienceecommerce-websiteux/ui-designermobile-developeruser-experience-(ux)-teammobile-development-team
• OKRs to boost client engagement and improve retention rates
  client-engagementretention-rateswebinar-administratorcustomer-service-representativecustomer-support-teamcontent-development-team

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