Microsoft Scenario Library Finance Accounting document evaluation

Available with: Microsoft 365 Copilot

Finance scenario: Accounting document evaluation

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Scenario

Use Copilot for accounting document evaluation

Rapidly update guidance documents to match new regulations.

1. Summarize requirements

Prompt Copilot to find and reference the most recent accounting standards changes related to cloud computing.​

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Microsoft 365 Copilot Chat1

Example prompt: Find and summarize information from the web on the latest accounting regulations.​

Ask Copilot to find the relevant work documents that need updating.

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Microsoft 365 Copilot Chat2

Example prompt: Find documents that are relevant to the modified standards. Suggest changes to the documents to align with new regulations.​

Make updates to the relevant documents based on new standards, leveraging suggestions from Copilot to edit the Word document.

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Microsoft 365 Copilot Chat2

Example prompt: Suggest updates to [Document.docx] based on [U.S. GAAP ASU 1234-56 Subtopic 123-45].

Use Copilot to review necessary steps and action items from an earlier meeting with your manager where they outlined their request to update a document based on new accounting guidance. ​

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Microsoft 365 Copilot Chat2

Example prompt: Recap the last meeting with my manager, highlighting action items.​

Summarize the updated document using Copilot in Word.​

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Copilot in Word

Example prompt: Generate a bulleted list that summarizes the updated section in [document.docx] about cloud computing.​

Use Copilot in Outlook to draft an email to your manager, including a summary of the updates you made and next steps.​

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Copilot in Outlook

Example prompt: Draft an email outlining key changes to the document and next steps for review.​

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.