Transforming Modern Finance with MS Copilot 

Every few years, a technology breaks through into the mainstream and causes chaos.  Without doubt, Artificial Intelligence has recently made this leap into everyone’s psyche.

At Codestone, we can tell this is happening in IT and Digital Transformation when we start receiving calls from Directors and Business Owners all asking the same question: “We don’t know a lot about ‘it’ …. but we know we need it in the business, can you help?”

We’ve been inundated with these questions since Microsoft Copilot for 365 went into general release three weeks ago and we’re anticipating many more enquiries now that Copilot for Finance has gone into preview.

This is huge.

The Microsoft Copilot for 365 Webinars and Workshops that we have been running have demonstrated that if a user saves just one hour a month, then Copilot effectively becomes free!

Now compound that with the expectation that a typical user will save between two and ten hours a month and the ROI becomes even more exceptional and that’s before you factor in the benefits that we can’t even comprehend at the start of this AI journey.

Copilot for Finance is a new product that includes all the benefits of Copilot for 365 (so Teams Transcription and action auto assign, Word and PowerPoint creation, Excel insights, Outlook management) and adds integration into your key finance system hence opening up a raft of time saving benefits specific to the Finance team.

Copilot for Finance will connect into SAP (which we know a bit about as an SAP Gold Partner and market leader in the UK) enabling the use of Natural Language prompts to gain insights quickly, meaning better data driven decisions faster.

This allows Finance Teams to add more strategic value to the business by offloading the more mundane, repetitive and manual tasks to Copilot. This in turn makes Finance more productive and will support the bottom line.

Some of the benefits of Copilot for Finance include:

  • Streamlining audits by reconciling data with a single prompt
  • Automating communication and payment plans to simplify collections
  • Automatically detect variances in data for faster financial reporting.

These benefits represent the immediate 1%  and we are seeing these already across Office applications.  The real opportunity here, however, will be when the next generation of AI-literate staff join your business and leverage Copilot AI to offer solutions, to fix issues and to create efficiencies that we cannot even think of today.

This spike in benefits will accelerate your performance against companies who are not leveraging this technology and that is when you’ll uncover the other 99%.

Talk to us today to see how you can unleash this power into your organisation and lead the way in the AI revolution.

Written by  Simon Fenech, Head of Business Development, Cloud and Managed Services, Codestone

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