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OKR Software with Ultimate Guide for Buyers

OKR Software is a tool that helps businesses implement the “Objectives and Key Results” (OKR) framework.

The software allows companies to define objectives, add critical results for each purpose, and track the progress of the results.

Types of OKR Software

Standalone OKR solutions: These solutions are built solely for managing the OKR framework within a business. They usually integrate with HR systems, allowing you to import employee data to populate data fields in the OKR interface. You should consider investing in these systems if your current HR software doesn’t offer an integrated OKR management module or the OKR module in your HR software solution is expensive.

HR software suite with OKR functionality: Some HR software solutions offer a module for OKR management. These solutions enable managing business objectives from within an HR system while allowing employee details such as names, departments, and contact details from the OKR module itself. 

Examples of OKR Software

Trello: Trello is a collaboration device that organizes your projects into boards. In one glance, Trello tells you what’s being worked on, who’s working on what, and where something is in a process. All your projects, all your tasks, all of your team–organized, accounted for, and easily visible at a glance. New users instantly understand the list and card metaphor and can be working on Trello within minutes.

Jira: Jira is a tool used by operational teams. Crews of 2 to 20,000 rely on Jira to handle every stage of their workflow, from framing to shipping and releasing. In addition, Jira’s no-code automation engine enables couples to save time and improve power by automating any task or means with a few clicks. 

Asana: Asana helps teams orchestrate their work, from daily tasks to strategic initiatives. With Asana, teams are more confident, move faster, and accomplish more with less, no matter where they are. More than 100,000 paying organizations and millions of organizations across 190 countries rely on Asana to manage everything from company objectives to digital transformation to product launches and marketing campaigns.

Advantages of OKR Software

Automating manual tasks: When done manually, implementing and managing the OKR framework is time-consuming. OKR software automates the communication, feedback capture, and report-creating processes, thereby eliminating time-consuming manual tasks.

Efficient tracking of goals and objectives: Tracking team performances on company objectives is perhaps the most tedious aspect of using the OKR methodology. You’ll have to request updates from stakeholders for each purpose and critical result and present those in charts and graphs. With an OKR solution, all stakeholders will regularly update critical developments on the software interface, eliminating the need to request these details manually. The software also provides real-time performance charts and dashboards, eliminating the effort required to create those manually.

More straightforward modification of business goals: You’ll need to perform a series of tasks whenever you need to revise company goals. You’ll need to communicate the changes to stakeholders and managers, update the OKR tracking sheet, and collect feedback on the changes. OKR software enables you to add and revise objectives and critical results while notifying each stakeholder of the changes. Thus, it minimizes the time and effort needed in modifying an OKR goal.

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Use of OKR Software

On-premise: These software solutions are installed on your business’s servers and accessed via desktop applications. While on-premise systems charge you a one-time license fee, they also need heavy servers and network infrastructure investment. Besides, you may also need to purchase updates.

Cloud-based: Unlike on-premise systems where you’ll be responsible for hosting, cloud-based systems are hosted on the vendor’s servers. These systems usually follow a subscription-based pricing model and are priced per month or per user, per month basis.

Features of OKR Software

Objectives management: This allows you to define objectives for the team under the OKR framework. Also, it enables you to modify business objectives in real-time. Each user receives a notification whenever a new goal is added or a current one is limited.

Key results management: This lets you define vital results metrics for each objective. Stakeholders can update critical results from the software interface. This feature ensures that relevant stakeholders could track and regularly update critical developments, ensuring OKR reports’ accuracy.

Organizational OKR tracking: This lets you track the real-time progress on predefined business objectives in a dashboard. With real-time monitoring, you’ll be able to identify the ideals your organization is lacking in and implement timely corrective actions.

Personal goal management: Allows team managers and stakeholders to view their objective-related goals. This feature helps set goals for each stakeholder while enabling them to view real-time progress on their individual goals. In addition, by providing a detailed performance review of the goals and objectives of each stakeholder, this functionality also assists in performance management and appraisal tasks.

Features of OKR Software 

Task management: This Lets you create deadline-based tasks related to objectives and assign those to the right stakeholder. The functionality lets your crew members share files, progress updates, and interact on these tasks, which boosts collaboration.

Gamified scorecards: Provides a gamified visual representation of achieved milestones for each objective. These scorecards can help motivate team members to achieve their goals.

Feedback management: This allows you to capture feedback and suggestions from team members on objectives. With this functionality, you’ll be able to conduct feedback surveys for individual employees, groups, or teams. 

Cost of OKR Software

Most products on the market are priced per user, per month basis. Pricing can be divided into three pricing tiers based on their starting price.

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Points to Consider when Buying OKR Software

Deployment assistance:Setting up a new software solution is complicated and involves a series of technical steps and customizations. Implementation assistance from software vendors eases this process. Ensure that the OKR software vendor you choose has a dedicated onboarding team to guide you throughout the installation process.

HR software integration: If you opt for an OKR system that doesn’t integrate with your existing HR system, you’ll end up performing a lot of data entry tasks manually. You’ll have to register all users, enter their details, and update records in case of any changes. HR integration enables the automatic transfer of employee information from your HR system to the OKR system. Whenever a new employee joins or the details of an employee change in the HR system, the updated data automatically reflect in the OKR system. For this reason, invest in OKR software that integrates with your HR system.

Team communication software integration: An OKR tool that integrates with team communication software lets you relay updates and achievements on business objectives on chat platforms such as Microsoft Teams and Slack.

Customer support options: Sometimes, you’ll experience some technical difficulties or functionality-related issues when using the software, which you’ll find difficult to solve on your own. In these situations, support from the software vendor proves very effective. In addition, some software providers impose support services, so factor in the costs of support when assessing the total cost of the software.