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Goals and challenges
AI is transforming crucial tasks in Finance such as budgeting, forecasting, financial analysis, and corporate performance management. AI guided experiences can provide the ability to analyze vast amounts of data, utilize process-based data models to uncover valuable insights, and enhance the accuracy of financial projections.
Scenarios Copilot can assist with
Microsoft Copilot opportunity to impact key departmental KPIs
Review our KPI overviews and view additional scenario details.
Days sales outstanding/improve cash flow
Improve billing and collections processes by enhancing communications with customers and vendors. Improve the analysis of discounted payment options. Speed decision-making on new products, pricing, and promotion with improved business case processes.
KPI — Days sales outstanding/improve cash flow
Improve billing and collections processes by enhancing communications with customers and vendors. Improve the analysis of discounted payment options. Speed decision-making on new products, pricing, and promotion with improved business case processes.
How Copilot can days sales outstanding/improve cash flow
Collections play a crucial role in any business. Timely and efficient collections ensures steady cash flow, decreases bad debt, and boosts profitability.
Improve collections process
- Use Copilot to organize information from past interactions
- Draft communications with Copilot clearly outlining the collection process
- Analyze different payment methods and its effectiveness
Improve customer meetings
- Prepare for the meeting
- Focus during the meeting
- Generate follow up communications regarding outstanding balance or payment plan
Roles
- Collection Managers
Microsoft AI solutions
- Copilot for Microsoft 365
- Microsoft Copilot
Reduce departmental spending
Automate simple tasks that may currently be outsourced or performed by low-level employees.
KPI — Reduce departmental spending
Automate simple tasks that may currently be outsourced or performed by low-level employees.
How Copilot can reduce departmental spending
As a cost center, Finance teams face the challenge of constantly achieving more with fewer resources. By assisting with everyday tasks, Copilot can help increase time for additional analysis, proactive audits, collections processes, and financial reporting.
Keep communication lines open
- Draft communications such as approval requests, status emails, and supplier communications
- Summarize stakeholder meetings around budget status and approvals
- Create sourcing strategy decks
Reduce outsourcing requirements
- Assist with manual tasks allowing processes to be done internally
Avoid spend on finance system updates
- Extend financial systems with Copilot
- Extrapolate the risk and degree of impact by accessing customer data and distribution records to identify patterns for corrective change
Roles
- Budget Analyst
- Controller
- Financial Planner
- Data Managers
- Treasury Manager
- Strategic Planners
- Risk Manager
Microsoft AI solutions
- Copilot for Microsoft 365
- Microsoft Copilot + Viva
Reduce spend on financial systems and tooling
Copilot can be extended into ERP systems and other processes to bring data together and speed decision-making without performing expensive updates to financial systems.
KPI — Reduce spend on financial systems and tooling
Copilot can be extended into ERP systems and other processes to bring data together and speed decision-making without performing expensive updates to financial systems.
How Copilot can reduce spend on financial systems and tooling
Copilot can be extended into processes to bring data together and speed decision-making without performing expensive updates to financial systems.
Inform your decisions:
- Draft budgets and spreadsheets
- Search for cost variances across different options
Improve your data:
- Use Copilot Studio for secure data retrieval from existing systems
Roles
- Financial Analysts
- Executive Leadership
Microsoft AI solutions
- Copilot for Microsoft 365
- Microsoft Copilot
Finance roles
Accountant
Operations
Auditor
Procurement
Analyst
