Banking on OKRs – The right way to Save $50000 a year

Industry

Financial Services Institution

Location

Singapore

Challenges

While known for helping its end customers achieve the impossible, felt it wasn't nimble enough while reaching for its goals.

Solution

The additional configurations enabled in the UpRaise for Employee Success were extremely valuable for the organization.

Version Used

Data center

A Singapore based Financial services institution was looking to aid its product managers in achieving organizational alignment. The aim was to link OKRs with epics & stories in their Jira, so that their mid-term & long-term goals would align with their day-to-day activities.

Balancing the ledgers

In their search to find the right OKR tool, the partner organization evaluated another OKR app built for Jira with not-so-great results and that turned them towards Upraise for Employee Success. The features of the app were closely aligned with the requirements of the organization. The maturity of the product & its integrated approach to performance management made an impression on the organization too.

Re-Tooling an account

The partner organization had plenty of questions about the process during the evaluation phase, and these came in handy while identifying tweaks and other adjustments to increase adoption. The app was configured in collaboration between UpRaise customer success team and the partner organization's Jira administrator & process improvement expert. The iterations were quick and responsive, and eventually, the required progress calculation was set up. The automated progress calculation of OKRs feature, based on linked Jira stories & epics, is one of the key selling points of UpRaise for Employee Success.

Booking in the profits

The progress calculation feature enabled the partner organization to save at least US $50,000 per year by forecasting project success or failures. These predictions are done through OKR confidence statuses provided by the app.

Learnings on the Job

OKRs are a great tool for aligning the vision of the organization with that of the employees, but it also provides many analytical benefits. The forecasting of project's success rates is one novel way of doing so, and can give any organisation a better overview of its immediate future, while working towards bettering it in the long term.