Finance OKR Examples

Below you will find Finance OKR examples from real companies that can help you formulate your own Finance OKRs.

Why your Finance team should use OKRs

OKR (Objectives & Key Results) is an agile goal-setting framework to drive transparency, alignment, and focus around your goals and strategy. High-growth companies like LinkedIn, Netflix, Slack, and Spotify or big corporations such as Samsung or Daimler all use OKRs to focus on the things that really matter and align everyone around a common purpose.

Finance teams frequently face the challenge that there are too many projects that could be tackled at any given time. OKRs help to keep focus and concentrate on the initiatives that are most important.

Furthermore, the world is changing fast. As a consequence, another benefit of OKRs for Finance teams is the framework’s agility, because you can quickly react to changes from one OKR cycle to the next.

The benefits of OKRs can only be unleashed if you follow some rules.

Writing good Finance OKRs

“How to write good Finance OKRs?” – the million-dollar question.

Coming up with good Finance OKRs can be quite a challenge. While the OKR method itself is easy to understand, it is the writing part that is the hardest and also the most critical to master.

To get the creative juices flowing, think about this formula when writing your Finance OKRs:

We will [Objective] as measured by [Key Results].

Keep in mind that Objectives answer the question “What do I want to achieve?” while Key Results answer the question “How do I know that the goal is achieved?”. Objectives should therefore be qualitative, easy to understand, and inspiring. Key Results should be clearly measurable, outcome-driven (not output-driven), and S.M.A.R.T. Both, Objectives and Key Results, need to be time-bound and are typically set per quarter, i.e. for one “OKR cycle”.

Finance OKRs: Examples and best practices

When our customers get started with Mooncamp, they often ask us “What are good OKR examples for Finance?”, so we compiled a list of real Finances OKR examples just for you.

        💡 Note: We recommend writing your own OKRs and only use the Finance OKR examples below for inspiration.
    

Objective

Build a financial planning engine that improves accounting processes and spurs business growth

Key Results

Decrease Average Days Sales Outstanding to 55 days or less

Achieve 10 day close or better this quarter

Increase Capital Efficiency ratio to 2.5

Deliver quantified savings of $500k this quarter

Objective

We are significantly reducing our tax liability

Key Results

Increase tax-deferred investments from 35% to 70%

Reduce depreciation expense by 50%

Reduce current liabilities from 60% to 20%

Objective

Improve the budgeting process

Key Results

Reduce excess spending by 60% by the end of the quarter

Reduce average revision and approval time to less than 7 business days

Objective

Raise capital to bring our company to the next level

Key Results

Get at least 20 intros to some of our favorite investors

Get at least 4 term sheets with our minimum required terms

Close a Series B round with a minimum of $60 million

How Mooncamp can help your Finance team with OKRs

By using a purpose-built OKR software like Mooncamp, you can bring your Finance team’s OKR strategy to the next level. To name just some benefits of a dedicated OKR software:

Transparency and alignment through visualization of goals across your Finance team or the entire organization
Collaborate better, give feedback for OKRs, and praise your co-workers all in one place
It’s more fun to use than a Spreadsheet or clunky tools like Confluence and will lead to a higher adoption of your teams
Regularly nudge your team members to update their OKRs in order to make the method stick
Uncover insights in your OKR progress or OKR process with reports and dashboards

Try Mooncamp for free today.