2 customisable OKR examples for Accounts Payable

What are Accounts Payable 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 Accounts Payable 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.

Building your own Accounts Payable OKRs with AI

While we have some examples available, it's likely that you'll have specific scenarios that aren't covered here. You can use our free AI generator below or our more complete goal-setting system to generate your own OKRs.

Our customisable Accounts Payable OKRs examples

We've added many examples of Accounts Payable Objectives and Key Results, but we did not stop there. Understanding the difference between OKRs and projects is important, so we also added examples of strategic initiatives that relate to the OKRs.

Hope you'll find this helpful!

1. OKRs to improve invoice processing and payment efficiency

2. OKRs to streamline vendor aging reconciliation and payment processes

Accounts Payable OKR best practices to boost success

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

Having too many OKRs is the #1 mistake that teams make when adopting the framework. The problem with tracking too many competing goals is that it will be hard for your team to know what really matters.

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.

Tability's audit dashboard will highlight opportunities to improve OKRs

Tip #2: Commit to weekly OKR check-ins

Setting good goals can be challenging, but without regular check-ins, your team will struggle to make progress. We recommend that you track your OKRs weekly to get the full benefits from the framework.

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

Tability's check-ins will save you hours and increase transparency

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 turn your Accounts Payable OKRs in a strategy map

Your quarterly OKRs should be tracked weekly in order to get all the benefits of the OKRs 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

Spreadsheets are enough to get started. Then, once you need to scale you can use a proper OKR platform to make things easier.

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

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 Accounts Payable OKR templates

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

• OKRs to automate approval emails integration into Salesforce
  salesforce-integrationautomated-approval-emailssalesforce-administratoremail-system-designertechnical-teamadministration-team
• OKRs to enhance client relations through first art refusals' follow-up
  client-relationsartwork-refusalscustomer-service-representativeart-salespersonclient-relations-teamart-sales-team
• OKRs to develop a winning sales strategy
  salesgrowth
• OKRs to enhance the quality of client communication
  client-communicationsatisfaction-surveyscustomer-service-representativeclient-relationship-managercustomer-service-teamclient-relationship-management-team
• OKRs to enhancement of CSR initiatives' financial efficiency and impact
  corporate-social-responsibilityfinancial-efficiencycsr-managerfinancial-analystfinance-teamcsr-team
• OKRs to get a solid growth engine
  growthmarketingsaasstartups

OKRs resources

Here are a list of resources to help you adopt the Objectives and Key Results framework.

• To learn: What is the meaning of OKRs
• Blog posts: ODT Blog
• Success metrics: KPIs examples