Introducing Microsoft Copilot for Finance


Exciting news announced yesterday, Microsoft Copilot for Finance is the newest Copilot offering in Microsoft 365 designed to transform modern finance and is currently in public preview. Copilot for Finance joins Microsoft Copilot for Sales and Copilot for Service, which are both now generally available.

Copilot for Finance enhances the capabilities of Microsoft 365, boosting the functionality of popular applications like Excel and Outlook with specialized insights and workflows tailored for finance experts. It integrates seamlessly with your current financial data sources, including established ERP systems like Microsoft Dynamics 365 and SAP, as well as the Microsoft Graph, to provide relevant context and information for financial operations.

Finance teams play a pivotal role in shaping a company’s strategic path, yet 80% of finance executives and their departments encounter obstacles when attempting to expand their focus beyond day-to-day operations. Despite their importance, 62% of finance workers find themselves mired in the monotony of data input and analysis cycles. Copilot for Finance offers a solution to this issue by optimizing financial tasks, automating repetitive processes, and delivering valuable insights during work, thereby enabling finance professionals to contribute more significantly to strategic business guidance and decision-making.

Copilot for Finance introduces several innovative features designed to streamline financial processes:

  • It empowers financial analysts to perform variance analyses in Excel effortlessly, using conversational prompts to sift through data for discrepancies, potential risks, and unmatched figures. This analysis is crucial for finance teams to deliver actionable strategic insights to business leaders, highlighting areas where financial performance aligns with, surpasses, or falls behind expectations, and the reasons for these outcomes.
  • The tool simplifies the task of reconciling records in Excel by offering automated comparisons of data structures and step-by-step guidance for resolving issues, which aids in transforming insights into concrete actions and upholding the integrity and precision of financial documentation.
  • It generates a comprehensive overview of pertinent customer account information within Outlook, including balance statements and invoices, to accelerate the collections process.
  • Copilot for Finance also enables users to transform raw data in Excel into polished visuals and reports that are ready to be distributed through Outlook and Teams, facilitating seamless communication and presentation of financial data.

Stay tuned to our blog for updates on when Copilot for Finance becomes generally available.

Click here to read the Official Microsoft Blog

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