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tability.ioWhat are Cash Flow 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 Cash Flow 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.
Cash Flow OKRs examples
We've added many examples of Cash Flow 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!
OKRs to gain comprehensive knowledge of the cash flow process
ObjectiveGain comprehensive knowledge of the cash flow process
KRAnalyze and document cash flow models of three successful companies in different industries
Document findings of the cash flow analyses- Choose three successful companies from different industries
- Analyze each company's cash flow models
- KRApply learned concepts in real-life transactions, improving cash flow efficiency by 20%
- Analyze and optimize financial procedures for improved cash flow
- Implement learned concepts in daily business transactions
- Monitor and adjust strategies to ensure a 20% efficiency increase
- KRComplete an advanced course on cash flow management within a month
- Enroll in an advanced cash flow management course
- Dedicate daily study time to understand the course materials
- Finish all required coursework and assessments promptly
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
OKRs to surpass annual operation plan and meet free cash flow target
- ObjectiveSurpass annual operation plan and meet free cash flow target
- KRImprove collections process to reduce accounts receivables by 15%
- Implement stricter credit control procedures
- Escalate overdue accounts faster
- Streamline invoice issuance and follow-up systems
- KRIncrease sales revenue by 20% to boost free cash flow
- Innovate and introduce new revenue-generating services or products
- Develop and implement aggressive marketing and sales strategies
- Prioritize upselling and cross-selling to current customers
- KRCut operational expenses by 10% to ensure positive cash flow
- Renegotiate vendor contracts for better pricing
- Identify areas of budget waste to mitigate unnecessary spending
- Implement cost-saving technology improvements
OKRs to enhance quality control to bolster cash flow
- ObjectiveEnhance quality control to bolster cash flow
- KRDecrease product defect rate by 15% through stringent quality checks
- Implement stringent quality control checks in the production process
- Regularly monitor and refine quality protocols
- Train staff on improved quality assurance practices
- KRIncrease customer retention by 10% via improved product quality
- Train staff on product quality commitment and its importance
- Gather regular customer feedback on product improvements
- Implement rigorous testing protocols to enhance product quality
- KRReduce quality-related returns by 20%, saving operational costs
- Implement stricter quality control checks on all products
- Establish a robust customer feedback mechanism
- Train staff in identifying and correcting potential issues
How to write your own Cash Flow 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 OKRsTability 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.
Cash Flow 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
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.
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.
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 Cash Flow OKRs
The rules of OKRs are simple. Quarterly OKRs should be tracked weekly, and yearly OKRs should be tracked monthly. 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.
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 Cash Flow OKR templates
We have more templates to help you draft your team goals and OKRs.
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