Microsoft Scenario Library Finance Amendment comparisons

Available with: Microsoft 365 Copilot

Finance scenario: Amendment comparisons

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Scenario

Use Copilot to make amendment comparisons

Understand contract terms and collaborate on updates.

1. Summarize policy updates

Use Copilot to review the latest accounting regulation updates for the past quarter to determine which amendments may need review.

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Microsoft 365 Copilot Chat1

Example prompt: Summarize all [U.S. GAAP] updates from the last 3 months.

Ask Copilot to evaluate and compare the two amendments associated with the recent accounting regulation updates.

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Microsoft 365 Copilot Chat2

Example prompt: Compare [standardamendment.docx] and [customamendment.docx] and put the results into a table.

Use Copilot in Word to display the table of comparisons and your recommended changes. Add a summary paragraph explaining the objective and recommendations.​

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Copilot in Word

Example prompt: Rewrite with Copilot to summarize the key differences between the documents in one paragraph.

Use Copilot in Outlook to draft an email to request your colleague to review the Word document of comparisons.

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Copilot in Outlook

Example prompt: Draft with Copilot an email to a colleague requesting their edits and comments in comparison.doc by the end of the week.

Create a guide with methodology and learnings for new hires to the team to accelerate their onboarding.​

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Copilot in PowerPoint

Example prompt: Create a presentation based on [newhireguide.docx].

KPIs

Opportunity to impact key functional area KPIs

How Microsoft Copilot can help average request times

Microsoft Copilot can help with lowering resolution times which in turn ​leads to increased agent productivity and higher customer satisfaction rates.​
Boost productivity​
  • Rapidly find information​
  • Diagnose problems faster​
  • Check for similar issues and resolutions​
  • Quickly send follow-up communications​

How Copilot can improve risk management

Finance teams grapple with complex tasks—from credit and collections to risk management and compliance. Get real-time insights and strategic recommendations. By automating mundane tasks, Microsoft Copilot frees up time for critical decisions, streamlining audits, simplifying collections, and accelerating financial reporting.
Speed data analysis and reporting
  • Quickly analyze trends
  • Generate informative charts
  • Create strategy presentations

How Microsoft Copilot can reduce finance department spending

As a cost center, Finance teams face the challenge of constantly achieving more with fewer resources. By assisting with everyday tasks, Microsoft 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

How Copilot can help reduce spend on financial systems and tooling

Microsoft 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

How Microsoft Copilot can help reduce days sales outstanding

Collections play a crucial role in any business. Timely and efficient collections help ensure healthy cash flow, liquidity, and operational efficiency. 
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

The content in this example scenario is for demonstration purposes only. You should evaluate how Copilot aligns with your organization’s business processes, regulatory requirements, and responsible AI principles.