Introducing Microsoft Copilot for Finance
The public preview of Microsoft Copilot for Finance, the latest business function Copilot product, enhances Microsoft Copilot for Microsoft 365 and transforms finance teams’ everyday work. Copilot for Finance joins Copilot for Sales and Service, now broadly available, to automate, suggest, and direct job flow using AI.
Finance departments are crucial to company-direction choices. Eighty percent of finance executives and teams struggle to do strategic work outside of operations. However, 62% of financial professionals feel data input and review processes are tedious. Copilot for Finance streamlines financial activities, automates workflows, and provides work flow insights to free up finance to provide strategic advice and insights to the company.
Copilot for Finance includes Copilot for Microsoft 365, which boosts Excel, Outlook, and other productivity tools with finance-specific workflow and data insights. Copilot for Finance uses financial data from Microsoft Dynamics 365, SAP, and the Microsoft Graph to provide context.
- Helps financial analysts rapidly do a variance analysis in Excel using natural language prompts to identify abnormalities, risks, and mismatched numbers. This study helps finance inform corporate executives about where it is achieving, surpassing, or falling short of financial goals and why.
- Simplifies Excel reconciliation with automatic data structure comparisons and guided troubleshooting to move from insight to action and maintain financial record dependability and correctness.
- Offers a detailed overview of client account facts in Outlook, including balance statements and invoices, to speed up collections.
- Helps clients transform Excel data into Outlook and Teams-ready visualizations and reports.
- Customers using Microsoft Copilot to change business
Business function Copilot services help workers move from insights to effect using role-specific data and procedures. Recent Work Trend Index surveys show individuals are drowning in data. A recent study indicated that positions like sales, finance, and supply chain have role-specific data demands. About 50% of the information they consume each day is important for their work.
Copilot breaks down information and application silos and actively derives insights, suggestions, and advice from several data sources in compliance with Microsoft’s responsible AI standards. Copilot for Microsoft 365 and its role-based extensions may be customized for business operations using Microsoft Copilot Studio.
Over 30,000 companies use Copilot for Sales to aid salespeople. Copilot empowers sales, service, and financial personnel at Dentsu, Lumen Technologies, Northern Trust, Schneider Electric, Visa, and hundreds more.
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Microsoft 365 Copilot features
Microsoft was already started Microsoft 365 Copilot to see the next significant increase in production. Generative AI is poised to greatly speed up our content production and synthesis, freeing up time to concentrate on more original, meaningful, and significant work.
Microsoft 365 Copilot is in a unique position to bring GenAI capabilities to employees directly within their existing workflows more quickly and with built-in governance and security features that homegrown options may lack because it is the de facto standard among productivity suites.
Planning and a careful deployment are still necessary to prepare your environment and make Microsoft 365 Copilot useful to your staff. As an established Microsoft partner, Dell Technologies is particularly qualified to assist businesses in realizing the full potential of Microsoft 365 Copilot.
- Prepare your data, paying attention to security and regulatory issues.
- Make the appropriate users available
- Establish baselines for productivity before you start and measure what counts.
Prepare your data for Microsoft 365 Copilot
You will need to prepare your data for access by Microsoft 365 Copilot in order to ensure secure but widespread access to business information, in addition to meeting the prerequisites and technical guidelines announced by Microsoft, which outline specific needs in terms of licensing, data privacy and security, data hygiene, and tenant management.
Microsoft 365 Copilot will be more helpful if it has access to additional data. If Microsoft 365 Copilot can access the data and signals across all of your Microsoft services, including data stored in SharePoint and OneDrive repositories, the output quality will be higher.
The Microsoft Graph, a unified interface and map for accessing the vast array of interrelated data and services inside the Microsoft 365 suite, serves as the focal point of these signals. By organizing material effectively and ensuring that your most crucial and pertinent content is transferred to the Microsoft cloud, your company can provide Microsoft Graph with a solid basis. As part of this assessment, make sure outdated information is archived and incomplete drafts are arranged so they may be conveniently hidden from Microsoft 365 Copilot exposure.
Security and data permissions are also essential for Microsoft 365 Copilot preparedness. Businesses will need to carefully examine permissions to ensure users have access to the “right” quantity of material and avoid accidentally making crucial corporate information available to the incorrect audiences.
Results will be improved and hazards associated with excessive access will be reduced by controlling permissions in a properly balanced manner. Utilizing labels, regulations, and tags, compliance technologies like Microsoft Purview may be used to evaluate your data and manage visibility.
Put the right people in charge of Microsoft 365 Copilot
Generative AI, in our opinion, has the potential to significantly affect the whole workforce. However, certain positions will benefit more from Microsoft 365 Copilot in terms of productivity benefits. Prioritizing these employee personas for access to Microsoft 365 Copilot requires determining which individuals and working methods inside the company will benefit from it the most.
As a general rule, Microsoft 365 Copilot’s early use cases will probably be most advantageous to employees that produce and synthesize material. For instance, marketing and product teams may utilize it to speed up artifact development and find insights and connections much more quickly.
One of the most important components of Microsoft 365 Copilot effectiveness will be making sure your priority users are prepared with the knowledge and skills to use it within their apps after identifying your key users and their demands. As a part of a wider adoption and change management program, a deliberate communication and training strategy that is suited to user roles and incorporates prompt engineering ideas is required. For the purpose of promoting peer collaboration, we also advise establishing a champions network.
Analyze the return on your investment
Organizations require a mechanism to monitor and assess the effects of Generative AI, just like they do with any significant technological investment. Due to the fact that Microsoft 365 Copilot is intended to increase productivity, organizations must first set a baseline for productivity as a crucial point of reference.
Businesses should take both quantitative and qualitative metrics into consideration when attempting to quantify a subject as complex as productivity. The finest quantitative results come from formal experience measurement programs because they link the original concept to the targeted objectives.
For basic understanding, the built-in tools in Microsoft 365 are a terrific place to start. For instance, Microsoft’s adoption score and use metrics may assist measure how your company completes tasks across various productivity categories and technological environments. Another option that might offer beneficial productivity indicators is Microsoft Viva Insights.
However, gauging production alone won’t provide a useful starting point. Sentiment assessment, which often uses non-intrusive survey tools that ask consumers straightforward questions after a launch, can be used to address qualitative analysis.
This research can assist identify, for instance, how much time Microsoft 365 Copilot has saved staff while developing new presentations or how effective the tool has been in minimizing time spent reading and replying to emails. His advice is to make even emotive queries quantifiable in nature by asking how much time was saved rather than whether time was saved.
Dell offers Digital Employee Experience services to assist organizations in this process by establishing baseline metrics and tracking the effects of technological change on their company.
365 Copilot from Microsoft: Are You Prepared?
We advocate starting early with preparedness actions so that enterprises considering investing in Microsoft 365 Copilot can get started quickly with this game-changing technology.
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