Finance Team

Our OKR templates will enable your organization to accomplish all the fundamental missions. Track, measure, and evaluate your teams’ achievements in an organized and well-structured manner.

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Name

Company Name

Business Email

Country Code

Phone Number

Number of Employees

Cash is the core spirit of any business. The finance department’s role is to manage the company’s expenses, revenues, and cash flow to achieve its strategic objectives with the necessary resources.

Setting objectives for finance teams can be a challenge, and tracking them continuously is necessary too. For goals to be a success, it gets essential to select the right financial objectives.

Mentioned below are some Finance team OKR examples to give you an overview of how to set goals for your teams.

Objective:

Improve the debts on company’s balance sheet

Key Results:

Increase the number of capital assets that’re generating income by 20%
Asses the all the debt needs monthly
Decrease the amount of long term debts from 40% to 25%

Objective:

Create and finalize the accounts payable report by the end of Q4

Key Results:

Review and approve departmental expenditures at least every two weeks
Reduce unnecessary expenditures to a 45% within four months
Review and complete compensation agreements by the end of the quarter

Objective:

Speed up the claiming process

Key Results:

Decrease the amount of time for claim settlement to at least 36 hours from 48 hours
Inspection turnaround time should be 24 hours from 48 hours
Emphasize more on submitting evidence documentations digitally – from 25% to 50%

Objective:

Improve the company’s cash flow cycle

Key Results:

Decrease the amount of accounts receivables from INR 8 crore to INR 4.5 crore
Bring the average payment days down from 65 days to 25 days
Discuss the NET30 contract with top 6 customers instead of NET60
Implement NET30 for the new clientele

Objective:

Create a financial strategy for the next 3 years

Key Results:

Conduct a meeting with all department heads by first week of September
Complete the roadmap prioritization of the product by Oct
Finalize and approve all the budgets by the start of November
Raise INR 10 crore for the growth targets of next year.

Objective:

Improve tax compliance

Key Results:

Decrease the audit adjustments from 3% to 1%.
Reduce the amount of complaints/issues related to tax from 6 to 2 per month.
Reduce the accounts payable holds from 8% to 3%
Conduct a successful external tax compliance audit