OKR template to enhance the efficiency and effectiveness of billing and collection process
Your OKR template
The second part of the aim is to reduce overdue receivables by achieving a 10% reduction through consistent follow-ups. If there are outstanding invoices, implementing a structured follow-up policy is needed. Setting up an automatic reminder for overdue receivables can be helpful. Training staff in effective communication strategies for collection is also included in the initiatives.
The final objective is to encourage timely payments by implementing an automatic reminder system, hoping to increase on-time payments by 15%. In order to achieve this, the initiatives involve researching popular automatic reminder systems in the market, training staff on how to use the system, and choosing and purchasing the appropriate reminder system software.
Overall, the OKR aims to streamline the billing and collection process, thereby increasing efficiency and minimizing errors. It combines the enhancement of both human resources and technological tools to ensure the smooth running of the whole process.
ObjectiveEnhance the efficiency and effectiveness of billing and collection process
KRIncrease billing accuracy to 98% by reducing system or process errors
Conduct regular accuracy audits for all transactions- Provide ongoing training for billing staff
- Implement a digital invoice verification system
- KRAchieve 10% reduction in overdue receivables through consistent follow-ups
- Implement a structured follow-up policy for all outstanding invoices
- Automate reminders for overdue receivables
- Train staff in effective collection communication strategies
- KRImplement an automated reminder system to increase on-time payments by 15%
- Research popular automated reminder systems on market
- Train staff on how to use this system
- Select and purchase appropriate reminder system software
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