Accounting OKR Examples
Best OKR Examples for AccountingAccounting OKR Examples
Want to create effective Finance / Accounting OKRs? Need some examples of Accounting OKRs for reference? What should my Accounting OKRs include? How far should I go with my Accounting OKRs? If we only reach 75% of our revenue and profit projections, what happens then?
This post will answer ALL THE ABOVE issues and provide you with the best Accounting OKR Examples.
Accounting OKR Examples for Budgeting and Raising Funds
- O Determine and establish a two-year financial strategy
- KR Raise $20 million to fund the company's expansion plans.
- KR Schedule a cross-departmental heads strategy meeting by June 20.
- KR Plan out the product roadmap by October 10.
- KR Finalize and approve budgets by October 30.
- O Increase the efficiency of annual budgeting and company planning
- KR Organize a full-day meeting with each division's manager to plan progress.
- KR Prepare budget recommendations for each line of business before September 1st.
- KR Ensure the usage of the online dashboards by all managers across the board.
- KR Finalize the budget by September 30th.
- O Raise additional funds for expansion
- KR Attain a minimum of seven-second contact meetings.
- KR Make contact with venture capitalists and set up at least 20 initial meetings.
- KR Obtain at least five term sheets that include our bare minimum of terms.
- KR Complete a $20 million pre-money financing round.
- O Maintain a budget variance of fewer than 5%. (from the budget to the reality)
- KR Include all areas where you've gone over budget three times in the last six months.
- KR Collaborate with the heads of each department to ascertain their budgetary requirements.
- KR Analyze the number of one-time expenses that occurred over the preceding year.
Accounting OKR Examples for Tax Compliance
- O Increase adherence to tax laws
- KR Conduct an external audit of your tax returns.
- KR The percentage of audit adjustments should be lowered from 5% to 1%.
- KR Monthly tax issues/complaints should be reduced from 5 to 1.
- KR Reduce Accounts Payable from 5% to 1%.
- O Tax-advantaged investments should be increased from 70% to 100%
- KR Decrease current liabilities from 50% to 25% by the third quarter.
- KR Decrease depreciation costs from 20% to 50%
- KR Complete the budget by the 30th of September.
Accounting OKR Examples for Interdepartmental functions
- O Enhance Operational Effectiveness
- KR Perform an external accounting audit within 14 days.
- KR Develop a supplier selection process.
- KR Collaborate with the sales manager to finalize the new standards.
- O Finalize and Publish the End-of-quarter report on Accounts Payables
- KR Check and evaluate the departmental expenses by the end of the week.
- KR Cut down on the amount of redundancy by 95%.
- KR Review and finalize pay agreements before the closure of the quarter.
- O Streamline internal processes and make accounting more transparent
- KR Invoices are to be categorized by expense at least 80% of the time before being forwarded to the accounts department.
- KR Reduce the TAT of the paperwork submission process to the accounts department by 30%.
- KR Speed up the payment processing time from "applying" to "paid," and scale up the payment completion time to 7 hours.
- O Remunerate top talents with competitive salary packages
- KR Conduct an industry-specific wage analysis.
- KR Achieve a 50% to 75% increase in employee salary satisfaction.
- KR Increase managers' salaries to industry standards.
- KR Close the budgeting and accounting activities by the end of September.
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- O Make expenditure management effortless for everyone by Q1
- KR Process refund of the Expenses within 14 days of receipt.
- KR The accounts team should process a claim application in less than 8 minutes.
- KR "Expense Management Process" should be rated "Excellent" by all employees.
- O Solve payroll issues by Q1
- KR Eliminate payroll inaccuracies.
- KR Pay compensations on time.
We hope our handy list of Accounting OKR examples help you get started with your Successful OKR Journey
