OKR template to improve efficiency & accuracy of invoice monitoring

public-lib · Published 6 months ago

Your OKR template

The OKR aims to augment the effectiveness and precision of billing monitoring. The primary objective is to reduce outstanding invoices by 30% through automated reminders to customers, proactive practices in gathering debts, and offering discounts for their prompt payment.

It also aims to enhance invoice processing. An increase in the number of invoices processed per hour by 15% is targeted, achieved by delegating more staff to this task, training existing staff on striking a balance between speed and accuracy in invoicing, and digitizing the invoicing system for higher efficiency.

The third sub goal of this OKR is to minimize invoice processing errors by 20%. This achievement is anticipated through implementing automated invoice verification software that will reduce the risk of human errors. Improved data entry processes and checks coupled with targeted training to staff on invoice accuracy are part of the initiatives.

In essence, this OKR is focused on transforming the invoice monitoring system to be more efficient, precise, and proactive, thus increasing overall productivity and profitably for the business.

ObjectiveImprove efficiency & accuracy of invoice monitoring
KRDecrease outstanding invoices by 30%
Automate invoice reminders for clients
Implement a more proactive approach in collecting debts
Offer discounts for early payment of invoices
KRIncrease the number of invoices processed per hour by 15%
Delegate more personnel to invoice processing tasks
Train staff on speed-accuracy balance in invoicing
Implement a digital system for faster invoice processing
KRReduce invoice processing errors by 20%
Implement automated invoice verification software
Improve data entry processes and checks
Train staff specifically on invoice accuracy

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