Microsoft Scenario Library Finance Contract review

Available with: Microsoft 365 Copilot

Finance scenario: Contract review

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Scenario

Using Copilot to speed contract reviews

Understand contract terms and collaborate on updates.

1. Find the asks in your emails​

Use Copilot to catch up on emails regarding the latest professional services contract to prepare for a consultation with an internal deal stakeholder.

Microsoft Copilot icon

Microsoft 365 Copilot Chat2

Example prompt: Catch me up on the emails about the Contoso deals. Summarize the latest requests. ​

Catch up on the last meeting with the stakeholder using Copilot in Teams to ensure clarity on their latest requests.​ Use Teams Rooms for the meeting to enable a transcript with proper attributions from a conference room.

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Copilot in Teams

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

Review the new contract with Copilot in Word, extracting key insights, tender documents, and amendments for the deal and associated revenue impacting terms/conditions.​

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Copilot in Word

Example prompt: Ask Copilot a series of prompts: “What is the commitment and monthly fee?”, “What are the T&Cs for invoicing?”, “What is the license term?”​

Solicit input with Copilot in Loop and finalize with team on the technical accounting guidance for the draft customer agreement.​

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Copilot in Loop

Example prompt: Generate a space for team members to dynamically contribute and ideate on deal structure recommendations. “Create a list ​
of topics to discuss for a contract review.”​

Gain alignment with the stakeholders on the recommended accounting guidance, prompting Copilot for a meeting agenda.​

Microsoft Copilot icon

Microsoft 365 Copilot Chat2

Example prompt: Create a meeting agenda based on the latest contract review meeting and email with the objective of aligning on the accounting recommendations for the deal.​

Reply to the stakeholder using Copilot in Outlook with a concise but thorough summary of the recommended agreement updates.​

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Copilot in Outlook

Example prompt: “Draft with Copilot” a reply with a bulleted list of the team’s recommendations, associated rationale, and next steps. Tone is Formal 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.