Financial OKRs – OKR examples

The OKR method has proven to be an extremely effective method for structuring and achieving goals since the 1970s. Its methodology is particularly useful for finance-related areas and departments. In other areas and departments such as customer service or marketing, measurements are more abstract and therefore less suitable for creating measurable and comprehensible metrics. However, finance departments are excellent candidates for implementing an OKR due to the need for comprehensive analysis of figures and various KPIs. The department responsible for the profitability and revenue of the entire company requires precision. It is therefore important to measure exactly what is really important.

Let’s look at OKR examples that finance departments could use:

OKR Example 1: Taxes

Objective: Reduce tax liability

Key Results:

The finance departments must assess and evaluate the company’s expenses, income and cash flow as a whole. Consequently, they must be responsible for analyzing the financial health of the individual departments. This process is simplified by Objectives and Key Results and by special OKR software.

Next, let’s look at a cross-departmental example in finance:

OKR Example 2: Budget finalization process

Objective: Improvement of the budget finalization process

Key Results:

Summary

We hope that this article has given you an insight into our daily work with Objectives and Key Results. You can find many more articles on the subject of OKRs in our OKR expert magazine. Are you planning to introduce OKRs in your company? We will be happy to advise you!