Microsoft Scenario Library Finance Contract accounting guidance

Available with: Microsoft 365 Copilot

Finance scenario: Contract accounting guidance

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Scenario

Using Copilot for contract accounting guidance

Understand contract terms and collaborate on updates.

1. Gather information

Ask Copilot to gather information about the customer to better understand the contract.

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Microsoft 365 Copilot Chat2

Example prompt: Pull together a summary of the customer interactions from recent email and chats.

Copy the data collected along with a recent meeting summary into Word and then have Copilot organize the content.

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Microsoft 365 Copilot Chat2

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Copilot in Word

Example prompt: Rewrite the brief to outline the key scenario based on the background and supporting details.

Prompt Copilot for relevant accounting considerations and perspective based on the customer scenario.​

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Microsoft 365 Copilot Chat2

Example prompt: Provide accounting guidance and recommendations for the customer scenario in the [scenario.docx]

Use Copilot in Loop to collaborate with colleagues to build on the preliminary list of accounting considerations.​

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Copilot in Loop

Example prompt: Brainstorm additional accounting considerations for the customer scenario.

Use Copilot in PowerPoint to generate a presentation with the finalized accounting guidance for the customer scenario.​

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Copilot in PowerPoint

Example prompt: Create a presentation from file [scenario.docx] that summarizes the team’s recommendations.

Draft an email to your manager with Copilot in Outlook summarizing key recommendations.​

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Copilot in Outlook

Example prompt: Draft an email with a concise summary of key recommendations.

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.