OKR Examples for Finance
Sample OKRs along with relevant discussions, organised by function
Financial goals, set correctly, can take the organization to the next level. Here are a few possibilities, illustrated as examples. Their levels are indicative, and can differ based on the organization’s size, stage & maturity of OKR processes.
Company level OKRs
|Create financial strategy for the next 3 years|
Team level OKRs
|Establish a network of VCs to assist funding|
|Finalize budget for Q4 FY 2017-2018||The KRs under this objective have not clearly marked measurable outcomes. Rewording the first one to “Earmark X amount by Q4 FY 2017-18 as discussed with all department heads” will provide direction, and the third KR will be more|
|Increase the efficiency of bookkeeping process|
Individual Level OKRs
|Create and finalize accounts payable by Q4 2017-18||The objective for this individual instead could be “Submit final report to head of department for approval” and one of the KRs could be “Create and finalize accounts payable by Q4 2017-18.”|
Another KR can be added that does not contribute directly to the objective but could help the individual improve his or her skills. For example, “Improve analytical and reporting skills by joining relevant online courses”.
|Reduce excess expenditure by Q4 FY 2017-18||The first KR can be modified to “Identify departments and process where repeated losses occurred in last 6 months of FY 2016-17.”|
The second KR requires collaboration with the Purchasing Department to discuss alternatives for overpriced goods/dealers to reduce expenditure, and it can be a team-level KR for both teams.