2 customisable OKR examples for Accounts Payable Manager

What are Accounts Payable Manager 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 Manager 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 Manager 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 Manager OKRs examples

You will find in the next section many different Accounts Payable Manager Objectives and Key Results. We've included strategic initiatives in our templates to give you a better idea of the different between the key results (how we measure progress), and the initiatives (what we do to achieve the results).

Hope you'll find this helpful!

1. OKRs to streamline vendor aging reconciliation and payment processes

Streamline vendor aging reconciliation and payment processes
Achieve 100% on-time payments for all vendor invoices within net 30
Regularly review and update payment processes
Implement a robust invoice tracking software
Assign responsibility for all invoice payments
Implement an automated tracking system for vendor aging within first two weeks
Research best automated vendor aging tracking systems
Train staff on using new tracking system
Purchase and install suitable system
Reduce number of overdue vendor payments to zero by end of the quarter
Ensure timely fund allocation for payments
Regularly review and act on payment due list
Implement a reliable automated payment system

Implement this OKR

2. OKRs to improve invoice processing and payment efficiency

Improve invoice processing and payment efficiency
Increase 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
Reduce 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
Reduce 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

Implement this OKR

Accounts Payable Manager 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

The #1 role of OKRs is to help you and your team focus on what really matters. Business-as-usual activities will still be happening, but you do not need to track your entire roadmap in the 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.

Tability's audit dashboard will highlight opportunities to improve OKRs

Tip #2: Commit to weekly OKR check-ins

Don't fall into the set-and-forget trap. It is important to adopt a weekly check-in process to get the full value of your OKRs and make your strategy agile – otherwise this is nothing more than a reporting exercise.

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 Manager 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 Manager OKR templates

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

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

What's next? Try Tability's goal-setting AI

You can create an iterate on your OKRs using Tability's unique goal-setting AI.

Watch the demo below, then hop on the platform for a free trial.

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