Microsoft recently announced the launch of Copilot for Finance, a new set of AI-powered tools aimed at boosting productivity for finance teams. The new offerings include features in Microsoft Excel that leverage generative AI to help streamline monotonous tasks and provide richer insights.
According to Microsoft’s Charles Lamanna, Copilot for Finance can free up time for finance professionals by automating routine workflows. This allows them to play a more strategic role in advising business leaders. The tools connect with existing systems like Microsoft 365 and SAP to supercharge everyday apps used by finance.
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Microsoft Excel Upgrades Help Analysts Work Smarter
One of the most exciting upgrades iscoming to Microsoft Excel. Copilot for Finance will allow financial analysts to utilize natural language prompts to conduct complex variance analysis. This includes quickly reviewing datasets to identify anomalies, risks, and unmatched values. Such capabilities provide deeper understanding of areas for improvement or emerging opportunities.
The new Excel tools also aim to simplify reconciliation workflows. The AI-comparison of data structures and guided troubleshooting ensures accuracy across financial records.
Outlook Intelligence Saves Time
On the Outlook side, Copilot for Finance can generate summaries of customer accounts complete with balance details and invoices. This information allows finance teams to make decisions and take action faster.
Democratizing Insights Through Automated Reporting
Raw data from Excel can also be quickly transformed through Copilot into presentation-ready reports and visualizations. These can then be seamlessly shared with stakeholders across Microsoft 365. Essentially, Copilot democratizes access to insights while saving analysts time.
The Copilot for Finance add-ins are now available in public preview with a full launch expected soon. Finance teams can access the artificial intelligence tools to make employees’ lives easier and amplify their strategic impact.
