Microsoft Scenario Library Finance Reconcile financial data to accelerate period closing​

Available with: Microsoft 365 Copilot for Finance and Copilot Studio

Finance scenario: Reconcile financial data to accelerate period closing​

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Scenario

Improve time to close with Copilot for Finance

1. Generate formulas to clean data​

Aggregate sales invoice and payment data into an Excel spreadsheet, then use Copilot for guidance on how to standardize the data formatting.​

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Copilot in Excel

Example prompt: Suggest formulas to standardize the data formatting, including removing trailing spaces and correcting capitalization.​

Use Copilot for Finance in Excel to streamline the reconciliation of accounts across customers and suppliers.​

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Copilot in Excel

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Copilot for Finance (Preview)

Action: Open Copilot for Finance in Excel and select Reconcile data. Define the reconciliation vectors.​

Review the Reconciliation Report transactions for any discrepancies.​

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Copilot in Excel

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Copilot for Finance (Preview)

Example prompt: What are my top 3 product categories, by revenue, over the last 3 years?​

Copilot in Finance in Excel analyzes the reconciliation results and provides insights and suggestions for addressing inconsistencies in the report summary.​

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Copilot in Excel

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Copilot for Finance (Preview)

Action: Select Include the summary in the report and click Save as PDF to save a downloadable version of the report summary. ​

Create a custom AI agent based on the reconciliation reports and financial statements for the period closing so that you can query to understand any discrepancies based on the latest status reports.​

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Copilot Studio Agent

From Copilot Studio, create a new Copilot. Under the knowledge section, add the reconciliation report PDF from SharePoint.​

Share the custom copilot in Teams so team members can ask the agent questions about the report.

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Copilot in Teams

Action: Open the configuration pan for the Microsoft Teams channel, select Open copilot, then add the custom agent as an app in Teams. Share the agent via a link with team members.

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.