15 customisable OKR examples for Finance Management
What are Finance 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.
Crafting effective OKRs can be challenging, particularly for beginners. Emphasizing outcomes rather than projects should be the core of your planning.
We've tailored a list of OKRs examples for Finance Management to help you. You can look at any of the templates below to get some inspiration for your own goals.
If you want to learn more about the framework, you can read our OKR guide online.
Building your own Finance Management 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 Finance Management OKRs examples
You will find in the next section many different Finance Management 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 enhance risk management in the finance department
Enhance risk management in the finance department
Decrease risk-related financial losses by 15%
Strengthen internal audit procedures
Provide staff training on risk management
Implement regular financial risk assessment strategies
Develop and train staff on 3 new risk mitigation strategies
Identify and outline 3 new risk mitigation strategies
Prepare a comprehensive training program around these strategies
Schedule and conduct training sessions for staff
Implement risk assessment tools to identify 20% more financial risks
Choose appropriate risk assessment tools
Train staff on proper tool usage
Monitor and measure effectiveness regularly
2. OKRs to enhance finance department's risk management initiatives
Enhance finance department's risk management initiatives
Implement a comprehensive risk monitoring system by end of quarter
Select appropriate risk monitoring software
Train staff on system usage and reporting
Identify key risk factors for ongoing review
Achieve a 20% increase in risk management staff competency through targeted training programs
Develop targeted training programs addressing identified skill gaps
Implement training programs and assess staff competency improvements
Identify specific areas requiring competency improvement in risk management staff
Reduce operational errors by 25% through improved controls and processes
Evaluate and upgrade existing tools and systems
Implement stricter quality control measures
Conduct regular staff training on operational procedures
3. OKRs to maintain financial health by sticking to budget
Maintain financial health by sticking to budget
Increase savings by 10% through efficient budget allocation
Allocate income towards high-interest savings accounts
Identify and cut unnecessary expenditures from personal budget
Regularly review and adjust budget for efficiency
Achieve zero budget overruns in all spending categories
Monitor all expenses regularly and adjust promptly
Provide training for effective budget management
Implement strict financial controls and budget limits
Reduce discretionary spending by 15% compared to last quarter
Identify non-essential expenses from last quarter
Define a strict budget on discretionary items
Implement expenditure tracking and control methods
4. OKRs to enhance reprint decision making for better stockout control and cashflow management
Enhance reprint decision making for better stockout control and cashflow management
Maximize cashflow stability by maintaining subtle increments in reprint expenditures
Review budget to accommodate gradual expenditure rise
Carefully monitor and adjust reprint spending regularly
Incorporate minimal routine increases in reprint costs
Reduce stockout rates of reprint titles to under 5% using predictive analytics
Regularly review and refine predictive models
Implement predictive analytics to forecast reprint title demands
Adjust inventory levels based on analytics data
Achieve at least RM38,000 in savings through efficient reprints within next quarter
Assess current printing practices for inefficiencies and waste
Monitor and evaluate savings regularly
Implement cost-effective reprint strategies and printing technologies
5. OKRs to successfully transition majority of vendors to ACH payments
Successfully transition majority of vendors to ACH payments
Identify and prioritize upper 50% of vendors for ACH conversion by week 3
Compile a list of all vendors currently in payment rotation
Allocate priority for ACH conversion to top 50% vendors
Categorize vendors based on payment volume
Achieve a 50% conversion rate amongst identified vendors by week 6
Develop a compelling presentation for vendor benefits
Schedule and conduct effective vendor meetings
Follow up regularly with targeted vendors
Verify and establish ACH payment method for an additional 30% of vendors by week 9
Contact vendors to gather ACH setup information
Identify vendors not set up with ACH payments
Input vendor information to establish ACH
6. OKRs to improve efficiency and effectiveness in project delivery
Improve efficiency and effectiveness in project delivery
Decrease project overhead costs by 5%
Identify and eliminate non-essential project expenses
Improve efficiency in project management practices
Negotiate better rates with vendors/suppliers
Reduce project delivery time by 10%
Prioritize training of team members for improved productivity
Streamline communication channels to hasten decision-making
Implement advanced project management tools for increased efficiency
Increase project completion rate by 15%
Prioritize and streamline tasks based on their importance and deadlines
Improve team communication and clarity on project objectives
Implement regular progress monitoring and provide necessary feedback
7. OKRs to execute budget computation each Monday
Execute budget computation each Monday
Improve computation speed by 15% by the end of the quarter
Upgrade to faster, modern hardware as necessary
Implement efficient algorithms to reduce computational complexity
Optimize existing code for better performance
Submit a reviewed budget calculation to the finance team by each Tuesday
Finalize and download the corrected budget calculation
Email the finalized calculation to the finance team each Tuesday
Review and correct the budget calculation weekly
Ensure zero errors in all weekly budget computations
Regularly update and verify all data input
Review and double-check computations every week
Implement a comprehensive error checking process
8. OKRs to efficiently monitor and manage the release of billing milestones
Efficiently monitor and manage the release of billing milestones
Improve the accuracy of forecasting milestone releases by 30%
Provide training on accuracy in forecasting
Increase communication among project team members
Implement robust project management tracking tools
Decrease the latency between billing milestone releases by 15%
Revise and streamline the current billing process
Implement efficient billing software
Train team on rapid billing procedures
Implement a tracking system to capture 100% of billing milestones in real time
Research available tracking systems suited to billing milestones
Train staff on how to utilize the new billing tracking system
Select and procure an appropriate real-time tracking system
9. OKRs to grow personal net worth to $1M
Grow personal net worth to $1M
Invest 30% of income in high-yield, low-risk opportunities
Allocate funds towards selected investment opportunities
Determine the amount equalling 30% of your yearly income
Research high-yield, low-risk investment options
Increase monthly income by 50% through diversifying income streams
Learn and engage in e-commerce or online business opportunities
Explore and invest in a variety of income generating assets
Start a side job or freelance work related to your skills
Reduce monthly expenses by 20% through budgeting and disciplined spending
Establish a strict weekly budget and stick to it
Cut out unnecessary expenses such as dining out
Regularly review and adjust spending habits
10. OKRs to lower unvalued inventory by 10%
Lower unvalued inventory by 10%
Implement disposal or revaluation strategy for 50% of identified items
Evaluate current market value for selected items
Identify potential buyers or recyclers for 50% of identified items
Initiate negotiations or disposal process
Identify top 20% of unvalued items within two weeks
Rank items based on set criteria
Establish criteria for determining item value
Assess inventory for potential unvalued items
Achieve 5% reduction in unvalued inventory every month
Increase sales promotions to eliminate unvalued inventory
Conduct regular audits to identify obsolete inventory
Implement a better management system for stock levels
11. OKRs to implement effective cloud cost management and budget alignment strategies
Implement effective cloud cost management and budget alignment strategies
Increase forecast accuracy for cloud spending by 20% via predictive analytics
Continuously improve data models for better forecasting accuracy
Implement rigorous testing and validation of predictive models
Develop precise predictive analytics algorithms for cloud spending
Reduce overall cloud expenditure by 15% using cost-optimization strategies
Identify and eliminate underutilized or idle cloud resources
Optimize cloud storage and data transfer processes
Implement automation and scale-down capabilities
Implement a cloud cost governance framework that achieves 100% budget adherence
Establish financial controls and reporting tools
Monitor cost usage and optimize resources regularly
Define a strict budget for your cloud services
12. OKRs to achieve personal and financial stability
Achieve personal and financial stability
Spend less than monthly income to create savings buffer of 15%
Cut back on unnecessary costs
Establish a strict monthly budget plan
Allocate 15% of every paycheck to savings
Secure steady income by landing a full time job
Update and optimize your resume to highlight relevant skills and experiences
Prep and practice for potential job interviews
Research and apply to job openings in your chosen field
Attend 1 personal development workshop per month to enhance emotional stability
Register and pay for selected workshops
Participate fully in each workshop
Research and find upcoming personal development workshops
13. OKRs to financial asset management
Improve the value and efficiency of our financial asset management processes
Increase overall financial performance by 80%\
Increase the value of our financial assets by 25%
Reduce the time spent on financial asset management tasks by 50%
Improve the organization's ability to make informed financial decisions by 95%
14. OKRs to ensure timely submission of Financial Statements (FS)
Ensure timely submission of Financial Statements (FS)
Implement a tracking system to monitor FS creation and submission process
Implement the chosen tracking system
Identify key stages in the FS creation and submission process
Research potential tracking system options
Improve efficiency by 25% in terms of time taken for FS preparation
Conduct FS preparation training for staff efficiency
Incorporate technology to automate FS preparation processes
Implement better organizational practices for FS preparation
Set and adhere to pre-scheduled dates for completing sections of the FS
Schedule specific completion dates for FS sections
Make adjustments as necessary to meet deadlines
Regularly review progress towards these dates
15. OKRs to implement automation in financial reporting
Implement automation in financial reporting
Procure and integrate an automation tool by week 8
Research and select a suitable automation tool by week 4
Install and test automation tool integration by week 8
Purchase chosen automation tool in week 5
Identify and standardize 100% reportable financial data by week 6
Review all current financial data for standardization
Implement standardization protocol by week 6
Establish parameters for 100% reportable data
Reduce financial report generation time by 50% by week 12
Implement automation software for faster report compilation
Delegate assignments among financial team members
Improve and streamline data collection processes
Finance Management 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 Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/tability-insights-board.e70f9466.png)
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 Insights Dashboard](https://tability-templates-v2.vercel.app/_next/static/media/checkins-graph.b2aec458.png)
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 Finance Management OKRs in a strategy map
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
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.
![A strategy map in Tability](https://tability-templates-v2.vercel.app/_next/static/media/tability_strategy_map.2ad25843.png)
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 Finance Management OKR templates
We have more templates to help you draft your team goals and OKRs.
OKRs to improve Employee Retention
OKRs to improve lead generation with gated content for 20% more qualified leads
OKRs to increase code quality
OKRs to achieve excellence in completing English assignments on time
OKRs to enhance my critical thinking for improved decision making
OKRs to enhance mobile app quality through effective mobile testing
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.