Microsoft Scenario Library Finance Contract management

Available with: Microsoft 365 Copilot

Finance scenario: Contract management

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Scenario

Using Copilot for contract management

Understand contract terms and collaborate on updates.

1. Recap a meeting

Catch up on the key discussion points, decisions, and action items from a missed meeting.

Microsoft Teams icon

Copilot in Teams

Example prompt: Summarize this meeting and provide the key points and action items.

Based on an action item from your missed meeting, ask Copilot to compare multiple contracts for changes and provide considerations and recommendations based on the scenario.

Microsoft Copilot icon

Microsoft 365 Copilot Chat2

Example prompt: Evaluate [contract1.docx] and [contract2.docx]. As a [finance ops manager], create a comparison table outlining the key differences and risks.

Synthesize the contract comparisons and generate summaries and insights.

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Copilot in Word

Example prompt: Summarize this document [summary.docx] into 5 key takeaways in paragraph form.

Create a presentation that summarizes the key takeaways and includes recommendations based on the identified risks.

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Copilot in PowerPoint

Example prompt: Create a presentation from file
[summary.docx] and include the team’s recommendations.

Brainstorm with colleagues on the draft presentation to incorporate diverse perspective.

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Copilot in Loop

Example prompt: Create a space for team members to contribute ideas for the presentation. Start with a list of topics and details from [summary.docx]. “Summarize page” so team members can get a quick recap.

Send an email to colleagues soliciting feedback on the presentation. Include the Loop for more efficient collaboration.

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Copilot in Outlook

Action: Use Coaching by Copilot to enhance the tone of your email while conveying urgency in your request. Tone is Direct and Length is Short.

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.