OKR Templates for Finance Team

Objective 1: Improve the debts on company’s balance sheet

• 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 2: Create and finalize the accounts payable report by the end of Q4

• 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 3: Speed up the claiming process

• 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 4: Improve the company’s cash flow cycle

• 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 5: Create a financial strategy for the next 3 years

• 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 6: Improve tax compliance

• 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