Business rushes first, finance comes last
There is a profit and loss every month, and the accounts are calculated every day
A financial person who deals with data all the time
Playing the role of the "gatekeeper" of business management for a long time
Efficient and compliant financial operations
It is the organizational guarantee for the sustainable growth of enterprises
In today's increasingly popular data-driven organizational model, the orderly operation of the financial department is not only conducive to the listing journey of modern enterprises, but also can increase the return on investment and win the favor of the capital market through scientific and systematic financial and tax account management.
However, in the face of a screen full of Excel spreadsheets, complicated analysis of variance, and profitability modeling focusing on specific business scenarios, the finance department faces multiple challenges, and the occasional data difference that does not match can become the last straw that crushes the financial person:
• Lengthy financial process: Faced with a cumbersome financial settlement process, the finance team faces huge time pressure and is prone to physical and mental exhaustion;
• Fragmentation of financial data: The internal financial reporting system of the enterprise is isolated and scattered, and multiple data sources are not interconnected, making it difficult to output insights.
• Lack of automated systems: In the face of long-term accumulation of Excel digital assets, there is a lack of automation application tools, resulting in office inefficiency;
• Error-prone financial reconciliation: In the face of massive financial data, it is difficult to quickly gain insight into abnormal data, and there is a lack of regularity in tracing the source of final settlement data.
Exclusive "intelligent co-pilot" for financial professionals
Today, 88% of finance leaders say their primary focus is on transactional functions such as creating financial reports, rather than the more strategic functions of running a business, such as providing advice based on financial data insights. In fact, the overall finance team also needs to balance and dynamically focus on these two aspects.
As an "intelligent co-pilot" for finance practitioners, Microsoft Copilot for Finance uses cutting-edge AI/ML technology to simplify and refactor modern financial workflows, automate the data reconciliation process, and enable finance departments to play a greater role in the strategic operation of the enterprise.
Accounting is easy to do with Excel's native environment
There are always a few days at the end of the month and the beginning of the month, and the finance team is busy. In the face of data accounting and comparison on computer screens, relying solely on manpower is too consuming, and it is inevitable that there will be discrepancies. In fact, for the difference between the monthly and daily budget amount and the actual expenses, financial professionals can call Microsoft Copilot for Finance in Excel to set logic and adjust parameters to directly generate data analysis results.
In addition to Excel, the main front of the financial office, Microsoft Copilot for Finance has also been updated with features to streamline workflows and enhance data insights in Outlook and other office applications. Microsoft Copilot for Finance can connect to existing financial systems through Microsoft Copilot Studio, collect existing financial data sources, and also support ERP systems such as Microsoft Dynamics 365, with a more connected global view, to view abnormal risks and data, and timely correction and optimization.
"Integrating data from different systems and comparing it is a necessary task for every finance team in the world. A financial planning and analysis team of thousands of people spends one to two hours a week reconciling accounts, and with Microsoft Copilot for Finance, the process takes only 10 to 20 minutes a week. ”
Microsoft Office of the Chief Financial Officer
Cory Hrncirik
Let every financial person have the force of data monetization
Great insights often come from a treasure trove of real and reliable financial data. Running through Excel spreadsheets in the minds of finance departments and professionals will not help the organization share information and seize business opportunities, let alone transform into a data-driven organization. Turning data into real money requires a pair of keen eyes that can see the future direction from the dense data.
The application of Microsoft Copilot for Finance's automation capabilities can help customers quickly and intelligently generate raw data in Excel into visual reports suitable for speech sharing, and these data insights are also integrated into Microsoft's enterprise office software. Finance teams can share with one click in Outlook and Teams, and directly deliver key information to the frontline business, realizing the integration of business and finance.
Build a security moat to strengthen financial security and compliance
As the guardian of the safety line of the company's operating status, the finance team not only needs to ensure accuracy but also minimize risk when handling the audit of a company's financial statements. Microsoft Copilot for Finance has adopted multiple security measures such as end-to-end encryption and has passed strict compliance certifications in the financial industry.
When it comes to ensuring compliance with financial processes, finance staff collecting accounts collect no longer need to manually extract data from ERP records and manually look for inaccuracies. With Microsoft Copilot for Finance, you can do it with a single prompt and keep your bills under control and any delinquencies. Putting collections in Microsoft Copilot for Finance also helps finance staff focus more on customer-facing interactions.
"Accounts receivable reconciliation saves us time comparing different data sources, with an average of 20 minutes per account. On average, the financial time savings can be as high as 22% based on pilot usage. ”
Gladys Jin, Senior Director, Global Treasury and Financial Services, Microsoft Finance
In addition to Microsoft Copilot for Finance, Microsoft Copilot's Copilot series of AI assistants: Microsoft Copilot Studio, Microsoft Copilot for Sales, Microsoft Copilot for Service, and other applications that support innovation and efficiency improvement in different business scenarios have been unveiled one after another. In order to help enterprises transform and upgrade with AI and Copilot technology, Microsoft will hold an offline theme event "Microsoft Discovery Day: Reimagining Customer Experience" on April 18, 2024 from 13:30 to 16:50 in the Shenzhen office. We invite you to sign up for a face-to-face meeting with industry leaders to learn more about market trends and understand where customer experience is headed.
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