microsoft has debuted a new service for finance teams through its Copilot AI assistant.
First officer in charge of finance; announced It joins the company’s Copilot for Sales and Copilot for Service products on Thursday (February 29) and is designed for finance professionals who find themselves stuck in data entry and review cycles.
“Copilot for Finance saves time, automates workflows and helps finance departments play a more strategic role by streamlining finance tasks, automating workflows, and providing insights into the flow of work. Streamline your financial operations,” the company said in a blog post.
Copilot for Finance allows financial analysts to “quickly perform variance analysis in Excel using natural language prompts to check data sets for anomalies, risks, and inconsistent values,” according to a blog post. , allowing business leaders to determine where their company is meeting, exceeding, and falling short. The goal and the reason.
The tool also simplifies reconciliation in Excel and increases the reliability and accuracy of financial records “with automated data structure comparisons and guided troubleshooting that helps you move from insight to action.”
PYMNTS has been looking at how AI can make finance teams’ lives easier over the past few months, and last June we published a report on how these tools are moving “beyond siled automation solutions” and “empowering employees.” I wrote about “Will I be free?” From a boring job and empower human-level analytics for key business goals. ”
This technology is transforming the way we think about the operational relationship between systems and workers. james ritterCFO abbysaid in an interview with PYMNTS in March 2023.
He said businesses “no longer necessarily need people to perform specific data entry type tasks; need an individual We will be able to provide additional critical analysis. ”
AI has also revolutionized Microsoft. The tech giant collaborates with OpenAI to raise its profile and make it the biggest company In terms of market capitalization, it is number one in the world.
Microsoft announced last month that Copilot Adopted throughout the industryAI Assistant and Microsoft’s other AI tools helped the company post a record quarter for the three months ended Dec. 31.
“A growing body of evidence shows the role that AI will play in transforming work,” Microsoft Chairman and CEO Satya Nadella said during an earnings call.
However, this month the co-pilot mixed reviews. Those who tried the program were initially enthusiastic about using it, but some testers expressed doubts about its cost.
