Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.
What are Invoice Process Manager OKRs?
The OKR acronym stands for Objectives and Key Results. It's a goal-setting framework that was introduced at Intel by Andy Grove in the 70s, and it became popular after John Doerr introduced it to Google in the 90s. OKRs helps teams has a shared language to set ambitious goals and track progress towards them.
Formulating strong OKRs can be a complex endeavor, particularly for first-timers. Prioritizing outcomes over projects is crucial when developing your plans.
We've tailored a list of OKRs examples for Invoice Process Manager 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.
The best tools for writing perfect Invoice Process Manager OKRs
Here are 2 tools that can help you draft your OKRs in no time.
Tability AI: to generate OKRs based on a prompt
Tability AI allows you to describe your goals in a prompt, and generate a fully editable OKR template in seconds.
- 1. Create a Tability account
- 2. Click on the Generate goals using AI
- 3. Describe your goals in a prompt
- 4. Get your fully editable OKR template
- 5. Publish to start tracking progress and get automated OKR dashboards
Watch the video below to see it in action 👇
Tability Feedback: to improve existing OKRs
You can use Tability's AI feedback to improve your OKRs if you already have existing goals.
- 1. Create your Tability account
- 2. Add your existing OKRs (you can import them from a spreadsheet)
- 3. Click on Generate analysis
- 4. Review the suggestions and decide to accept or dismiss them
- 5. Publish to start tracking progress and get automated OKR dashboards
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.
Invoice Process Manager OKRs examples
You'll find below a list of Objectives and Key Results templates for Invoice Process Manager. 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 accuracy and timeliness in invoice processing
ObjectiveImprove accuracy and timeliness in invoice processing
KRIncrease on-time payments by 30%
Implement automated reminders for upcoming payment due dates- Offer incentives or discounts for early or on-time payments
- Enhance payment procedures for user simplicity and convenience
- KRReduce invoice processing errors by 25%
- Implement invoice automation software to reduce manual entry
- Regularly audit invoices to identify errors
- Train staff on accurate invoice processing methods
- KRDecrease invoice processing time by 20%
- Train staff in efficient invoice management techniques
- Implement automated invoicing software to speed up processing
- Streamline invoice approval workflow to minimize delays
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
OKRs to streamline invoicing and purchasing processes
- ObjectiveStreamline invoicing and purchasing processes
- KRIncrease the on-time payment rate for invoices by 25%
- Implement automated reminders for upcoming invoice due dates
- Offer incentives for prompt payments
- Simplify the payment process for customers
- KRAchieve a 30% reduction in purchasing-related errors
- Introduce stricter controls for purchase order approvals
- Incorporate automated systems in the purchasing process
- Implement regular training sessions on purchasing procedures
- KRDecrease invoice processing time by 20%
- Implement automated invoicing software
- Train staff on efficient invoice procedures
- Streamline invoice approval process
OKRs to increase the number of invoices processed
- ObjectiveIncrease the number of invoices processed
- KRIncrease daily invoice processing rate by 25% by next quarter
- Train staff in efficient invoice processing techniques
- Implement automated invoice processing software
- Establish performance metrics to track progress
- KRImplement new automation system to expedite the invoice processing workflow
- Evaluate existing invoice process and identify areas for automation
- Select appropriate software and automation tools for implementation
- Train staff on the new automation system for invoice processing
- KRReduce invoice processing errors by 30% to improve overall efficiency
- Conduct regular staff training on invoice management
- Implement automated invoice processing software
- Establish strict invoice validation rules
OKRs to streamline accounts receivable operations
- ObjectiveStreamline accounts receivable operations
- KRIncrease collection rates by 25%
- Implement an advanced collection management software system
- Train staff on effective collection strategies
- Incentivize timely payments with discounts
- KRReduce invoice processing time by 30%
- Streamline invoice approval processes
- Train staff on efficient invoice management
- Implement automated invoice processing software
- KRDecrease outstanding payments by 40%
- Implement quicker invoice processing system
- Review and update current payment follow-up procedures
- Negotiate payment plans with delinquent customers
Invoice Process Manager 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
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.
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.
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.
Save hours with automated OKR dashboards
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
Spreadsheets are enough to get started. Then, once you need to scale you can use Tability to save time with automated OKR dashboards, data connectors, and actionable insights.
How to get Tability dashboards:
- 1. Create a Tability account
- 2. Use the importers to add your OKRs (works with any spreadsheet or doc)
- 3. Publish your OKR plan
That's it! Tability will instantly get access to 10+ dashboards to monitor progress, visualise trends, and identify risks early.
More Invoice Process Manager OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to enhance product research systems and procedures
- OKRs to achieve product market fit under the Sean Ellis framework
- OKRs to implement AI for content enhancement
- OKRs to ensure all company devices are asset tagged
- OKRs to acquire pre-requisites for ISO 27001 certification
- OKRs to foster user-centric culture through stakeholder engagement