Introducing Microsoft Copilot for Finance – the newest Copilot offering in Microsoft 365 designed to transform modern … – blogs.microsoft.com

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Feb 29, 2024 | Charles Lamanna – CVP, Business Applications and Platform
Today we’re announcing the public preview of Microsoft Copilot for Finance, the newest Copilot offering designed for business functions that extends Microsoft Copilot for Microsoft 365 and revolutionizes how finance teams approach their daily work. Copilot for Finance joins Copilot for Sales and Copilot for Service, now generally available, to provide AI-powered, role-based workflow automation, recommendations and guided actions in the flow of work.
Finance departments are critical partners in strategic decisions impacting the direction of a company. Eighty percent of finance leaders and teams face challenges to take on more strategic work outside the operational portions of their roles[1]. However, 62% of finance professionals say they are stuck in the drudgery of data entry and review cycles [2]. Copilot for Finance can help free up time for finance to play more of a strategic role in delivering counsel and insights to the business by streamlining financial tasks, automating workflows and providing insights in the flow of work.
Copilot for Finance includes Copilot for Microsoft 365, which means it supercharges Excel, Outlook and other widely used productivity apps with workflow and data-specific insights for the finance professional. Copilot for Finance draws on essential context from your existing financial data sources, including traditional Enterprise Resource Planning (ERP) systems, such as Microsoft Dynamics 365 and SAP, and the Microsoft Graph.
In public preview today, Copilot for Finance introduces several key features to enhance financial operations:
Customers transforming business operations with Microsoft Copilot
The Copilot offerings designed for business functions help workers tackle a common problem: getting from insights to impact – with the relevant data and workflows specific to their roles. The latest Work Trend Index survey revealed that people are drowning in data. Roughly a quarter of their day is spent searching for information – roughly 50% of the information they consume each day is deemed necessary for their job, and a recent survey found roles like sales, finance and supply chain have role-specific needs from their data.
Copilot helps break down information and application silos while actively deriving insights, recommendations and guidance from a variety of data sources — all in accordance with Microsoft’s responsible AI principles. With Microsoft Copilot Studio, businesses can further customize Copilot for business processes inside of Copilot for Microsoft 365 and its role-based extensions.
Copilot for Sales is already helping sellers at more than 30,000 organizations. Companies including dentsu, Lumen Technologies, Northern Trust, Schneider Electric, Visa and hundreds more are empowering their employees with Copilot across their sales, service and finance departments.
Here is what a few of the companies had to say:
At Microsoft, we are also an AI-powered organization, leveraging Copilot for Sales and Copilot for Service to improve seller and agent workflows and transform customer experiences:
Companies of all sizes are moving beyond AI experimentation and embracing Microsoft Copilot to strategically empower those closest to their customer interactions and critical operations to create new business value. To get started with the new Copilot for Finance, visit: aka.ms/CopilotforFinancePreview.
 
 
[1] Future of Finance Trends | Microsoft Dynamics 365
[2] Metric of the Month: Time Allocation in Finance | CFO
Tags: AI, Copilot for Finance, Copilot for Microsoft 365
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