OKR template to augment efficiency and precision of treasury operations
The key objective of this OKR is to improve the efficiency and precision of treasury operations. There are three major goals - to increase returns on idle cash by 15%, to reduce treasury related financial reporting errors by 20%, and to implement a new cash management system to reduce manual input by 30%.
To increase returns on idle cash, action points include transferring idle cash into a higher yield savings account, reviewing current interest rates, and investing in profitable, low-risk financial instruments. These methods could bring better yield from funds that would otherwise be unutilized, taking into account the balance between risk and return.
The reduction in financial reporting errors aims to achieve precision in financial reporting, which is crucial for budgetary planning and resource allocation. Undertaking initiatives such as establishing stringent review and approval processes for financial reports, implementing automated treasury management software and conducting regular training for treasury staff can help in accomplishing this goal.
The third goal is to minimize manual entries by 30% through the implementation of a new cash management system. Researching and selecting an automated cash management solution, identifying inefficiencies in the current system and training staff for the new system are the key initiatives. This automation would render the entire process more efficient and error-free.
To increase returns on idle cash, action points include transferring idle cash into a higher yield savings account, reviewing current interest rates, and investing in profitable, low-risk financial instruments. These methods could bring better yield from funds that would otherwise be unutilized, taking into account the balance between risk and return.
The reduction in financial reporting errors aims to achieve precision in financial reporting, which is crucial for budgetary planning and resource allocation. Undertaking initiatives such as establishing stringent review and approval processes for financial reports, implementing automated treasury management software and conducting regular training for treasury staff can help in accomplishing this goal.
The third goal is to minimize manual entries by 30% through the implementation of a new cash management system. Researching and selecting an automated cash management solution, identifying inefficiencies in the current system and training staff for the new system are the key initiatives. This automation would render the entire process more efficient and error-free.
Augment efficiency and precision of treasury operations
Increase returns on idle cash by 15%
Transfer idle cash into higher yield savings account- Review current interest rates and compare with alternative investment options
- Invest in profitable, low-risk financial instruments
- Reduce treasury related financial reporting errors by 20%
- Establish stringent review and approval processes for financial reports
- Implement automated treasury management software with accurate reporting features
- Conduct regular training on financial reporting procedures for treasury staff
- Implement a new cash management system to reduce manual input by 30%
- Research and select an automated cash management solution
- Identify inefficiencies and errors in current cash management system
- Train staff in utilization of the new system