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5 OKR examples for Financial Controller

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What are Financial Controller 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 Controller 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.

How to write your own Financial Controller OKRs

1. Get tailored OKRs with an AI

You'll find some examples below, but it's likely that you have very specific needs that won't be covered.

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.

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

Watch the video below to see it in action 👇

Option 2. Optimise existing OKRs with Tability Feedback tool

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

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.

Option 3. Use the free OKR generator

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.

Financial Controller OKRs examples

You will find in the next section many different Financial Controller 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!

OKRs to prepare a perfect and precise financial statement

  • ObjectivePrepare a perfect and precise financial statement
  • KRImplement a double-verification system for transaction recording by the end of the quarter
  • TaskIdentify suitable double-verification technology options
  • TaskRoll out double-verification system
  • TaskDevelop implementation and training plan
  • KRAchieve 100% on-time internal financial reporting with no errors for three consecutive months
  • TaskAutomate reports using reliable financial software
  • TaskTrain staff on accurate and timely data input
  • TaskImplement a rigorous financial data review process
  • KREnsure 0% discrepancies in monthly intra-department financial audits throughout the quarter
  • TaskImplement stringent checks on each financial transaction
  • TaskRegularly review internal audit processes
  • TaskProvide comprehensive training on accurate reporting

OKRs to ensure completion of all account schedules and bank reconciliations

  • ObjectiveEnsure completion of all account schedules and bank reconciliations
  • KRSuccessfully complete and document all minor accounts' reconciliation by week 6
  • TaskReconcile discrepancies found in all reviewed accounts
  • TaskReview all minor accounts for outstanding discrepancies
  • TaskDocument results of reconciliation for all accounts
  • KRImplement a new system to track bi-weekly progress of bank reconciliations
  • TaskTrain staff on using the new system
  • TaskIdentify suitable software for tracking reconciliation progress
  • TaskInitiate regular bi-weekly update meetings
  • KRInitiate and finish 100% reconciliation of 10 major accounts within first 4 weeks
  • TaskBegin reconciling the discrepancies for each account
  • TaskIdentify the 10 major accounts requiring reconciliation
  • TaskComplete reconciliation process for all accounts

OKRs to successfully transition majority of vendors to ACH payments

  • ObjectiveSuccessfully transition majority of vendors to ACH payments
  • KRIdentify and prioritize upper 50% of vendors for ACH conversion by week 3
  • TaskCompile a list of all vendors currently in payment rotation
  • TaskAllocate priority for ACH conversion to top 50% vendors
  • TaskCategorize vendors based on payment volume
  • KRAchieve a 50% conversion rate amongst identified vendors by week 6
  • TaskDevelop a compelling presentation for vendor benefits
  • TaskSchedule and conduct effective vendor meetings
  • TaskFollow up regularly with targeted vendors
  • KRVerify and establish ACH payment method for an additional 30% of vendors by week 9
  • TaskContact vendors to gather ACH setup information
  • TaskIdentify vendors not set up with ACH payments
  • TaskInput vendor information to establish ACH

OKRs to lower unvalued inventory by 10%

  • ObjectiveLower unvalued inventory by 10%
  • KRImplement disposal or revaluation strategy for 50% of identified items
  • TaskEvaluate current market value for selected items
  • TaskIdentify potential buyers or recyclers for 50% of identified items
  • TaskInitiate negotiations or disposal process
  • KRIdentify top 20% of unvalued items within two weeks
  • TaskRank items based on set criteria
  • TaskEstablish criteria for determining item value
  • TaskAssess inventory for potential unvalued items
  • KRAchieve 5% reduction in unvalued inventory every month
  • TaskIncrease sales promotions to eliminate unvalued inventory
  • TaskConduct regular audits to identify obsolete inventory
  • TaskImplement a better management system for stock levels

OKRs to implement regulatory compliance changes effectively

  • ObjectiveImplement regulatory compliance changes effectively
  • KRComplete implementation of all required changes on time
  • TaskMonitor progress regularly, adjust plan as needed
  • TaskPrioritize necessary changes based on importance and difficulty
  • TaskDevelop a detailed, daily work schedule
  • KRStay within 10% below the allocated budget
  • TaskMaintain regular communication regarding spending with your team
  • TaskImplement cost-saving measures where feasible
  • TaskReview all expenditures weekly to monitor cash flow
  • KRReduce non-compliance incidents by 50%
  • TaskImplement comprehensive compliance training for all staff members
  • TaskProactively monitor and audit compliance activities
  • TaskRegularly review and update compliance policies

Financial Controller 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

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.

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.

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 Financial Controller OKRs

Quarterly OKRs should have weekly updates to get all the benefits from the framework. Reviewing progress periodically has several advantages:

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

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 Controller OKR templates

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

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