Microsoft Copilot for Finance: Transform Finance With Next-Generation AI

From quote-to-cash procedures like credit and collections to risk management and compliance, the finance department is the core of the company, juggling a multitude of important yet complex jobs. In addition to these laborious, required tasks, financial teams are being assigned more and more real-time insights into company performance and suggestions for future expansion projects. Microsoft Copilot for Finance enables finance teams to keep track of important decisions that might affect company performance and regain time. 


The new Copilot experience for Microsoft 365, Microsoft Copilot for Finance, enables financial professionals to use AI-assisted competencies from within their daily productivity apps. Now in public preview, Copilot for Finance links to Dynamics 365 and SAP, among other financial systems, to offer role-specific workflow automation, guided actions, and recommendations in Microsoft Outlook, Excel, Microsoft Teams, and other Microsoft 365 applications. This helps save time and concentrate on what really counts: guiding the business to success.  

Microsoft Copilot for Finance

Microsoft Copilot uses artificial intelligence to automate laborious chores so you can concentrate on what counts.


Using innovation to quicken fiscal responsibility

Finance teams are a crucial component of process innovation to boost productivity throughout the company. There are obviously some operational chores that are more routine, repetitious, and physically demanding as teams strive to change and enhance how time is spent to support more strategic work. While certain of these chores, like tax reporting and compliance, are essential and cannot be automated, most finance teams can benefit from automation tools and technology to transform these processes and free up time.


Teams can use next-generation AI to automate time-consuming and expensive operational chores and provide insight, accelerating their impact as financial stewards and strategists. 


Get More Done with Less with Microsoft Copilot for Finance


Working in Microsoft 365 apps, Copilot for Finance offers AI-powered support, streamlining and automating financial procedures. With a simple prompt, Copilot for Finance may automate communication and payment plans, accelerate financial reporting by identifying deviations, and simplify audits by pulling and reconciling data. Significant potential time and cost savings will change not only the way financial professionals operate but also how they create influence inside the company. 


Copilot for Finance provides several options for interaction.


It lets users type a prompt in natural language to ask questions and also suggests activities in the flow of work. Copilot for Finance can produce insights and pull data straight from the ERP and financial systems, offering suggestions for next steps and giving users a head start by producing contextualized text and attaching pertinent files. Just as with past Copilot experiences, users may quickly verify source data to guarantee openness before utilizing Copilot to take any action.


Microsoft Copilot for Finance links to thousands of other financial systems in addition to Dynamics 365 and SAP. Copilot for Finance enables users to stay in the flow of work and finish jobs more quickly by enabling them to both extract insight from and update actions back to current sources.


Developed for experts in finance


Copilot for Finance offers a simple approach to asking questions about data, revealing insights, and automating processes, helping to reduce the time spent on repetitive actions. It is also well-versed in the essential and frequently time-consuming duties and processes across a finance professional’s workday.


Let’s look at three situations that Copilot for Finance supports.


  1. Take action on discrepancies:

The financial statement audits of a corporation are essential for risk mitigation and accuracy assurance. Accounts receivable managers used to have to physically extract account data from ERP systems, reconcile it in Excel, and manually check for errors. With a single prompt, Copilot for Finance enables AR managers to take action on discrepancies and any delinquencies discovered with Copilot’s suggested copy and pertinent invoices.

       2. Copilot for Finance facilitates the collection process

A further important duty that impacts the profitability, cash flow, and customer relationships of the organization is the collection procedure. Collection coordinators spend time going over past-due accounts and attempting to quickly reconcile them. Frequently, this involves correspondence, phone conversations, and payment schedule negotiations. Let Copilot for Finance handle the mundane work so that collection coordinators may devote more time to valuable client-facing interactions. By recommending priority accounts, summarizing discussions to record back to ERP, and offering clients individualized payment plans, Copilot for Finance facilitates the entire collection process.

      3. Reduces Reporting Mistakes

Copilot for Finance reduces the possibility of reporting mistakes and overlooking unnoticed deviations. Users can use Copilot to find outliers and draw attention to differences for further analysis in place of manually going over huge financial data sets for odd trends. With repeatable natural language instructions, Copilot for Finance simplifies variance identification in the corporate setting. When a financial analyst gives Copilot instructions to find explanations for deviations, Copilot will independently compile supporting information.


Copilot will offer automated summaries for easier tracking of action items and follow-ups and recommend financial context connections. Copilot for Finance produces well-polished financial analyses, PowerPoint presentations, and emails to report to important parties.


Empower Your Business with Microsoft Copilot for Finance

All set to move forward? For assistance putting Microsoft Copilot for Finance into your company, get in touch with Tripearltech. With our Microsoft 365 services, stay ahead of the curve and enhance your organization. 

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