The new Microsoft Copilot release aims to bring the benefits of generative AI tools to finance teams, helping them improve overall productivity and efficiency.
Microsoft says the cleverly named Copilot for Finance helps finance teams eliminate tedious and time-consuming manual tasks, allowing them to focus on the strategic parts of their business.
This release adds several new AI-powered features to your favorite Microsoft 365 apps like Excel and Outlook, giving finance teams the power to influence and even make critical business decisions. Additional tools are provided for:
Microsoft Copilot for Finance
“Finance is a critical partner in strategic decisions that influence the direction of the enterprise,” Charles Lamanna, CVP of Business Applications and Platforms at Microsoft, said in a blog post announcing the launch. .
“Copilot for Finance enables finance to play a more strategic role by streamlining finance operations, automating workflows, and providing insight into business flows. , automate workflows, and provide business insights.”
Like other similar releases, Copilot for Finance incorporates Microsoft 365 tools and is said to be “enhanced” by an AI platform alongside traditional ERP systems such as Microsoft 365, SAP, and Microsoft Graph. the company says.
This includes Microsoft Excel, which is an essential tool for many finance teams. This allows financial analysts to quickly perform variance analysis using natural language prompts to review datasets for anomalies, risks, and discrepant values, and gain deeper insight into areas for improvement. You can do it, and you can succeed.
Copilot for Finance can also simplify the reconciliation process in Excel with automatic data structure comparisons and guided troubleshooting, which Microsoft says helps ensure the reliability and accuracy of financial records.
When it comes to Outlook, Copilot for Finance can quickly summarize and provide reports on customer accounts, providing information such as invoices and balance statements for quick action.
And like other models, Copilot for Finance can take raw data from Excel and transform it into “presentation-ready” reports and visuals that can be shared across the Microsoft 365 platform.
Businesses looking to try out new tools can try the new Copilot for Finance add-in now in public preview, with a wider release planned for some point in the near future.
