3 customisable OKR examples for Invoice Processing Efficiency

What are Invoice Processing Efficiency OKRs?

The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.

Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.

We've tailored a list of OKRs examples for Invoice Processing Efficiency 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 Invoice Processing Efficiency 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 Invoice Processing Efficiency OKRs examples

You'll find below a list of Objectives and Key Results templates for Invoice Processing 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 improve invoice processing and payment efficiency

  • ObjectiveImprove invoice processing and payment efficiency
  • Key ResultIncrease on-time payments by 30%
  • TaskOffer incentives for early or on-time payments
  • TaskImplement reminders for due payments through email or texts
  • TaskImprove payment platforms for easier transactions
  • Key ResultReduce invoice processing errors by 20%
  • TaskRegularly review and audit processed invoices
  • TaskTrain staff thoroughly on proper invoice processing
  • TaskImplement a reliable automated invoice processing system
  • Key ResultReduce average invoice processing time by 15%
  • TaskRegularly review and improve invoicing processes
  • TaskTrain staff on efficient invoice handling procedures
  • TaskImplement automated invoice processing software

2OKRs to improve efficiency & accuracy of invoice monitoring

  • ObjectiveImprove efficiency & accuracy of invoice monitoring
  • Key ResultDecrease outstanding invoices by 30%
  • TaskAutomate invoice reminders for clients
  • TaskImplement a more proactive approach in collecting debts
  • TaskOffer discounts for early payment of invoices
  • Key ResultIncrease the number of invoices processed per hour by 15%
  • TaskDelegate more personnel to invoice processing tasks
  • TaskTrain staff on speed-accuracy balance in invoicing
  • TaskImplement a digital system for faster invoice processing
  • Key ResultReduce invoice processing errors by 20%
  • TaskImplement automated invoice verification software
  • TaskImprove data entry processes and checks
  • TaskTrain staff specifically on invoice accuracy

3OKRs to achieve full productivity as a General Accountant

  • ObjectiveAchieve full productivity as a General Accountant
  • Key ResultReduce 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
  • Key ResultScore 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
  • Key ResultIncrease speed of invoice processing by 30%
  • TaskTrain staff in efficient invoice processing techniques
  • TaskStreamline invoice approval process
  • TaskImplement automation software for quick invoice management

Invoice Processing Efficiency 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

Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.

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 weekly OKR check-ins

Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.

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.

How to turn your Invoice Processing Efficiency OKRs in a strategy map

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full 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

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 Invoice Processing Efficiency 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.

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