Accounting OKR Examples

Finance OKRs for Invoicing and Crediting

Simplify internal procedures and make financial reporting more transparent

• >80% of invoices are categorized by expense type before they come to finance department% 800
• Reduce the number of primary documentation reported late to the financial department from 50% to 20%% 2050
• Speed up payment processing time from "application" to "paid" from 16h to 8hhours 816

Finance OKRs for Bookkeeping Process

Lay the groundwork for in-house accounting and financial reporting to take it over from the outsourcing firm

• Successfully onboard 3 new hires to the finance teamhires 30
• Develop structure for 5 types of reports to set them up in the ERP systemtypes 50
• Complete 5 stages of the ERP implementation processstages 50

Optimize management of accounting records to prepare for the move to the new ERP system

• Analyze reporting issues from 3 main angles to prepare the move to the new ERP toolangles 30
• Find equivalents in the new system (or develop requirements) for 7 types of reports requested by managementtypes 70
• Review expense types under 12 cost centers to analyze cost saving opportunitiescost centers 120

Improve the way we manage warehouse inventory records to save time during mandatory inventory checks

• Reduce time needed to complete inventory check from 16h to 4h on averagehours 416
• Automate 3 critical processes to avoid human errorsprocesses 30
• Reduce the % of discrepancies between bookkeeping data and factual information from 6% to 3%% 36

Lay the groundwork to make the quarterly analysis process more efficient

• Define top 5 achievable improvements for internal reportingimprovements 50
• Organize 4 workshops on reporting best practices with full team attendanceworkshops 40
• Develop and confirm 6 reporting templates for future usetemplates 60

Even out the difference in workload in the team to avoid overwork and burnout

• Achieve an average of 100 processed transactions per week per team member transactions 1000
• Reduce the amount of transactions pending for more than 24 hours from 20% to 2% per week% 220
• Conduct 5 coaching sessions with team members on the transactions handling best practices sessions 50

Finance OKRs for Revenue and Profit

Improve the way we manage expenses reporting to find opportunities to increase profitability

• Identify top 5 areas with the highest expenses areas 50
• Sort out 200 payments using new expense categories to make data more transparentpayments 2000
• Find a way to cut monthly expenses from $10000 to at least $8000 $ 800010000