Tability is a cheatcode for goal-driven teams. Set perfect OKRs with AI, stay focused on the work that matters.
What are Invoice Processing 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.
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 Processing 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 Processing 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 Processing OKRs examples
You'll find below a list of Objectives and Key Results templates for Invoice Processing. 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 improve efficiency & accuracy of invoice monitoring
- ObjectiveImprove efficiency & accuracy of invoice monitoring
- KRDecrease outstanding invoices by 30%
- Automate invoice reminders for clients
- Implement a more proactive approach in collecting debts
- Offer discounts for early payment of invoices
- KRIncrease the number of invoices processed per hour by 15%
- Delegate more personnel to invoice processing tasks
- Train staff on speed-accuracy balance in invoicing
- Implement a digital system for faster invoice processing
- KRReduce invoice processing errors by 20%
- Implement automated invoice verification software
- Improve data entry processes and checks
- Train staff specifically on invoice accuracy
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
OKRs to achieve full productivity as a General Accountant
- ObjectiveAchieve full productivity as a General Accountant
- KRReduce weekly accounting errors by 50%
- Implement thorough double-checking procedures for all accounting tasks
- Provide additional training on accounting software usage
- Instantly address and correct identified accounting errors
- KRScore at least 90% on internal accounting knowledge assessments
- Study company's internal accounting policies daily
- Practice with past assessment tests for improvement
- Seek clarifications for any accounting concepts not understood
- KRIncrease speed of invoice processing by 30%
- Train staff in efficient invoice processing techniques
- Streamline invoice approval process
- Implement automation software for quick invoice management
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
Invoice Processing 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.
Save hours with automated OKR dashboards
Your quarterly OKRs should be tracked weekly if you want 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
Most teams should start with a spreadsheet if they're using OKRs for the first time. Then, you can move to 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 Processing OKR templates
We have more templates to help you draft your team goals and OKRs.
- OKRs to cultivate a collaborative learning and growth environment
- OKRs to establish and implement a Jobs to be Done Framework in our team
- OKRs to enhance technical risk assessment procedures
- OKRs to enhance region-wide cooperation to exceed customer satisfaction
- OKRs to optimize and streamline procurement processes
- OKRs to expand our customer base significantly