Microsoft Copilot for Finance

As someone who lives in Mumbai, the financial capital of India, and teaches Excel to working professionals, including finance guys, I know that they all have one ask: Macros! But even with their proficiency in Excel, they soon realize that Macros aren't a magic button to solve all their problems. It takes effort to create that magic.

Finance teams are the superheroes of innovation, improving efficiency across the organization. But even superheroes get stuck in the daily grind of data entry and review cycles, with 62% of finance professionals caught in the drudgery. It's time to unleash the power of next-generation AI to automate those mundane tasks and free up our finance heroes to focus on strategic work.

In the next 3-5 years, 68% of CFOs anticipate revenue growth from generative AI.

What is Microsoft Copilot for Finance?

Microsoft has announced the public preview of Microsoft Copilot for Finance, which is a game-changer for finance professionals. It's the newest role-based extension of Microsoft Copilot and is specifically crafted to revolutionize the daily grind of well-known financial processes. It's like having a financial superhero by your side, ready to help you tackle the challenges of the finance world with the power of next-generation AI! How cool is that? ??

What does it do?

Microsoft Copilot for Finance is an AI-powered tool designed to streamline and automate financial processes while working in Microsoft 365 applications. It can help with tasks such as streamlining audits, simplifying collections, and accelerating financial reporting by detecting variances with ease. Copilot for Finance connects to existing financial systems, including Dynamics 365 and SAP, and can pull insight from and update actions back to existing sources. It is well versed in the critical and often time-consuming tasks and processes across a finance professional’s workday, providing a simple way to ask questions about data, surface insights, and automate processes.

It enables you to ..

• Make decisions faster by reviewing transactions for any unusual data, risks, or unmatched information. You can save and reuse templates to make the process faster.
• Save time by getting accurate reports and insights from different data sources. You can also turn data into visuals and reports to share with others.
• Reduce costs by getting a summary of customer balance history and having Copilot help with customer communications. You can also use prompts and suggestions to speed up processes.
• Increase productivity by connecting to your existing financial data sources and working seamlessly in Excel, Outlook, and Teams. You can also benefit from the security, compliance, and privacy policies set up in Microsoft 365.

Where can I find it?

To get a feel of Microsoft Copilot for Finance, explore the free demo video below. And experience the demo yourself by clicking here.

The public preview demo presents a hypothetical case that a finance professional may face regularly. It states the problem and puts you in the shoes of the person facing the problem, then step by step it takes you through the solution. This is a great way to see how Copilot for Finance can help streamline and automate financial processes, making your work more efficient and effective.

Demo Video

Is it available for general use?

Yes.

Microsoft Copilot for Finance is available for public preview, you can check eligibility by visiting this link.

https://aka.ms/CopilotforFinancePreview

Once you have the access with your login you will be prompted to download two add-ins.

Copilot for Finance for Microsoft Outlook (Preview)

Clicking on 'Get it now' it takes you to go to 'Microsoft 365 admin center'. If you have admin access you may continue or get Admin assistance.

Copilot for Finance for Microsoft Excel (Preview)

You can also try to get the add-in from Excel directly.

Refer to the pictures below and follow the directions,

go to the 'Home' tab > 'Add-ins'>'More add-ins'

Search for 'finance' in the search box > click on 'Copilot for Finance for Microsoft Excel (Preview)'

confirm the author of this add-in is 'Microsoft Corporation'

Add > read and agree to licence terms and privacy policy > Continue

you now have Copilot for Finance in Excel.