2 Account Payable Management OKR examples with initiatives

Write perfect OKRs with Tability AI – try it free with 5k credits

Use Tability to generate OKRs and initiatives in seconds.

What are Account Payable Management OKRs?

The Objective and Key Results (OKR) framework is a simple goal-setting methodology that was introduced at Intel by Andy Grove in the 70s. It became popular after John Doerr introduced it to Google in the 90s, and it's now used by teams of all sizes to set and track ambitious goals at scale.

Creating impactful OKRs can be a daunting task, especially for newcomers. Shifting your focus from projects to outcomes is key to successful planning.

We have curated a selection of OKR examples specifically for Account Payable Management to assist you. Feel free to explore the templates below for inspiration in setting your own goals.

If you want to learn more about the framework, you can read our OKR guide online.

Account Payable Management OKRs examples

You'll find below a list of Objectives and Key Results templates for Account Payable Management. We also included strategic projects for each template to make it easier to understand the difference between key results and projects.

Hope you'll find this helpful!

OKRs to improve invoice processing and payment efficiency

ObjectiveImprove invoice processing and payment efficiency
KRIncrease on-time payments by 30%
Offer incentives for early or on-time payments
Implement reminders for due payments through email or texts
Improve payment platforms for easier transactions
KRReduce invoice processing errors by 20%
Regularly review and audit processed invoices
Train staff thoroughly on proper invoice processing
Implement a reliable automated invoice processing system
KRReduce average invoice processing time by 15%
Regularly review and improve invoicing processes
Train staff on efficient invoice handling procedures
Implement automated invoice processing software

invoice-processing-efficiency account-payable-management accounts-payable-manager invoice-processing-clerk accounts-payable-team finance-team

Use template

OKRs to decrease days payable outstanding for better cash flow management

ObjectiveDecrease days payable outstanding for better cash flow management
KRImplement automation tools in 80% of payable systems
Select appropriate automation tools for these systems
Identify payable systems suitable for automation
Train staff on the usage of these tools
KRAchieve 25% faster dispute resolution for payable invoices
Train staff in effective dispute resolution techniques
Regularly review and streamline dispute policies
Implement a centralized dispute management system
KRReduce average invoice processing time by 30%
Streamline approval workflows for quicker turnarounds
Train staff on efficient invoice handling procedures
Implement automated invoice processing software

cash-flow-management payable-process-optimization finance-manager accounts-payable-clerk finance-team accounts-team

Use template

How to write your own Account Payable Management OKRs

1. Get tailored OKRs with an AI

You'll find some examples below, but it's likely that you have very specific needs that won't be covered.

You can use Tability's AI generator to create tailored OKRs based on your specific context. Tability can turn your objective description into a fully editable OKR template -- including tips to help you refine your goals.

1. Go to Tability's plan editor
2. Click on the "Generate goals using AI" button
3. Use natural language to describe your goals

Tability will then use your prompt to generate a fully editable OKR template.

Watch the video below to see it in action 👇

Option 2. Optimise existing OKRs with Tability Feedback tool

If you already have existing goals, and you want to improve them. You can use Tability's AI feedback to help you.

1. Go to Tability's plan editor
2. Add your existing OKRs (you can import them from a spreadsheet)
3. Click on "Generate analysis"

Tability's Strategy Map makes it easy to see all your org's OKRs

Tability will scan your OKRs and offer different suggestions to improve them. This can range from a small rewrite of a statement to make it clearer to a complete rewrite of the entire OKR.

You can then decide to accept the suggestions or dismiss them if you don't agree.

Option 3. Use the free OKR generator

If you're just looking for some quick inspiration, you can also use our free OKR generator to get a template.

Unlike with Tability, you won't be able to iterate on the templates, but this is still a great way to get started.

Account Payable Management OKR best practices

Generally speaking, your objectives should be ambitious yet achievable, and your key results should be measurable and time-bound (using the SMART framework can be helpful). It is also recommended to list strategic initiatives under your key results, as it'll help you avoid the common mistake of listing projects in your KRs.

Here are a couple of best practices extracted from our OKR implementation guide 👇

Tip #1: Limit the number of key results

Focus can only be achieve by limiting the number of competing priorities. It is crucial that you take the time to identify where you need to move the needle, and avoid adding business-as-usual activities to your OKRs.

We recommend having 3-4 objectives, and 3-4 key results per objective. A platform like Tability can run audits on your data to help you identify the plans that have too many goals.

Tip #2: Commit to weekly OKR check-ins

Having good goals is only half the effort. You'll get significant more value from your OKRs if you commit to a weekly check-in process.

Being able to see trends for your key results will also keep yourself honest.

Tip #3: No more than 2 yellow statuses in a row

Yes, this is another tip for goal-tracking instead of goal-setting (but you'll get plenty of OKR examples above). But, once you have your goals defined, it will be your ability to keep the right sense of urgency that will make the difference.

As a rule of thumb, it's best to avoid having more than 2 yellow/at risk statuses in a row.

Make a call on the 3rd update. You should be either back on track, or off track. This sounds harsh but it's the best way to signal risks early enough to fix things.

How to track your Account Payable Management OKRs

OKRs without regular progress updates are just KPIs. You'll need to update progress on your OKRs every week to get the full benefits from the framework. Reviewing progress periodically has several advantages:

It brings the goals back to the top of the mind
It will highlight poorly set OKRs
It will surface execution risks
It improves transparency and accountability

We recommend using a spreadsheet for your first OKRs cycle. You'll need to get familiar with the scoring and tracking first. Then, you can scale your OKRs process by using a proper OKR-tracking tool for it.

If you're not yet set on a tool, you can check out the 5 best OKR tracking templates guide to find the best way to monitor progress during the quarter.

More Account Payable Management OKR templates

We have more templates to help you draft your team goals and OKRs.

2 OKR examples for Account Payable Management