Copilot 101: What Is Copilot for Finance?
In this episode of the “Copilot 101 Podcast,” Shawn Dorward, Vice President, sa.global, UG Expert, discusses Microsoft Copilot for Finance, a tool from Microsoft that leverages ERP data to provide real-time insights and automate repetitive tasks.
This episode is sponsored by the AI Agent & Copilot Summit NA, taking place March 17-19, 2025 in San Diego, California.
Key Takeaways
- Overview: Copilot for Finance is a specialized agent by Microsoft that leverages ERP data to provide specific insights and suggestions, similar to how Copilot for Sales uses CRM data. This tool aims to enhance business reporting and data utilization.
- Reduce lower-level tasks: In the modern era, finance associates need real-time information to make timely decisions, as relying on outdated data can deter actionable impact. Copilot for Finance aims to reduce friction in lower-level tasks, allowing finance professionals to focus on higher-value activities and streamline repeatable processes.
- Streamline repeatable tasks: Repeatable tasks in finance, such as issuing statements or reconciling account codes, can be streamlined using Copilot for Finance, which is currently in preview and works with Dynamics 365 Finance & Operations and Business Central. This tool can integrate with Excel to push and edit ERP data, though it is still in its early stages.
- Copilot for Finance capabilities: Reconciling transactions from your cash account and bank statements is a repeatable task that can be streamlined using Copilot for Finance, for example. This tool can automate the reconciliation process in Excel, even if the data sets are not directly connected to the ERP system.
- Outlook integrations: Further, Copilot for Finance can integrate with Outlook to assist with accounts receivable tasks such as reissuing invoices and tracking collections, eliminating the need to switch to Dynamics 365 Finance & Operations or Business Central. This is free and can be authenticated with existing credentials.
- Looking ahead: The next iteration of Copilot for Finance will integrate with Teams, enabling similar accounts receivable management and collaboration features currently available in Outlook. Copilot for Finance intends to bring real-time insights and reduce the time needed for data analysis.
Stream the audio version of this episode here:
AI Agent & Copilot Summit NA is an AI-first event to define the opportunities, impact, and outcomes possible with Microsoft Copilot for mid-market & enterprise companies. Register now to attend AI Copilot Summit in San Diego, CA from March 17-19, 2025.
