OKR template to minimize overdue 90-day balances

public-lib · Published 4 months ago

Your OKR template

The OKR titled "Minimize overdue 90-day balances" aims to refine the company's payment and debt recovery process. The primary objective encompasses the streamlining of collection methods, including the use of automated reminders for pending payments and the standardization of collection procedures across all departments.

The improvement of the collection process is intended to shorten payment durations by 20%. To encourage prompt payments, the company plans to offer incentives to clients who make early payments. These approaches are pivotal to reducing the accumulation of overdue balances.

In addition, the OKR seeks to boost the company's debt recovery rate by 25% from the first month of operation. This will be achieved by proactively monitoring strategies and identifying and addressing areas causing low debt recovery rates. The goal is to enhance debt recovery strategies.

The strategy also aims to curb the number of 90-day balance accounts by 35%. Stricter criteria will be introduced for granting credit accounts. Furthermore, an analysis of account payment patterns will be conducted to identify any consistent payment delays.

ObjectiveMinimize overdue 90-day balances
KRImprove the efficiency of the collection process to shorten payment durations by 20%
Implement automated reminders for pending payments
Apply a standardized collection process across all departments
Offer incentives for early payment to clients
KRImplement a 25% increase in debt recovery from the first month of operations
Monitor and adjust strategies as needed
Identify key areas causing low debt recovery rates
Develop and implement enhanced debt recovery strategies
KRDecrease the total number of 90-day balance accounts by 35%
Introduce incentives for early or on-time payments
Implement stricter criteria for granting credit accounts
Analyze account payment patterns to identify consistent delays

Use in Tability

How to edit and track OKRs with Tability

You'll probably want to edit the examples in this post, and Tability is the perfect tool for it.

Tability is an AI-powered platform that helps teams set better goals, monitor execution, and get help to achieve their objectives faster.

With Tability you can:

Use AI to draft a complete set of OKRs in seconds
Connect your OKRs and team goals to your project
Automate reporting with integrations and built-in dashboard

Instead of having to copy the content of the OKR examples in a doc or spreadsheet, you can use Tability’s magic importer to start using any of the examples in this page.

The import process can be done in seconds, allowing you to edit OKRs directly in a platform that knows how to manage and track goals.

Step 1. Sign up for a free Tability account

Go tohttps://tability.app/signup and create your account (it's free!)

Step 2. Create a plan

Follow the steps after your onboarding to create your first plan, you should get to a page that looks like the picture below.

Step 3. Use the magic importer

Click on Use magic import to open up the Magic Import modal.

Now, go back to the OKR examples, and click on Copy on the example that you’d like to use.

Paste the content in the text import section. Don’t worry about the formatting, Tability’s AI will be able to parse it!

Now, just click on Import from text and let the magic happen.

Once your example is in the plan editor, you will be able to:

Edit the objectives, key results, and tasks
Click on the target 0 → 100% to set better target
Use the tips and the AI to refine your goals

Step 4. Publish your plan

Once you’re done editing, you can publish your plan to switch to the goal-tracking mode.

From there you will have access to all the features that will help you and your team save hours with OKR reporting.

10+ built-in dashboards to visualise progress on your goals
Weekly reminders, data connectors, and smart notifications
9 views to map OKRs to strategic projects
Strategy map to align teams at scale