A good cash flow is an absolute necessity for healthy business operations. Invoices that are paid too late can put your company in financial difficulties, with all the consequences that entails. That makes a smooth and reliable collection system very important. The development of AI provides new possibilities: this month Microsoft launches Copilot for Finance. This tool makes financial management easier and faster.

Better communication

Copilot is integrated into Outlook, so you no longer have to switch between different screens. This makes communication with customers simpler and faster. The integration also ensures that you can easily save communication and notes, directly from Outlook. This gives you quick access to the history of customer communication. Copilot will also soon be able to assist in composing e-mails. The AI ​​tool can compose customer-oriented messages and even forward attachments with invoices and balances. This saves a lot of time in answering frequently asked questions.

More information

Copilot offers a simpler and more complete view of the accounts receivable administration. For example, you will soon receive a summary of customer information in Outlook, directly from the ERP source system. This eliminates the need to manually search for information about customer payment behavior and preferences. Copilot also ensures faster invoice updates. The due date and dispute status of each outstanding invoice can be updated directly in Outlook. The same applies to customer contact details.

Teams and Excel

Copilot's integration does not stop at Outlook. Microsoft Teams and Excel will follow in the coming months. For example, you can request important financial information during a Teams meeting without leaving the application. In Excel, Copilot makes smart suggestions for cleaning up data or preparing routines. All to ensure that managing cash flow becomes easier and faster. Implementation in Teams and Excel is planned for March 2025.

Work smarter

With Copilot for Finance, debt collection management becomes a lot easier and faster. With one click of a button, you have all relevant customer information at your disposal. You also save time by updating invoices directly from Outlook. Automatically composing customer-oriented e-mails also saves time. The planned integration of Copilot in Teams and Excel contributes to an even more streamlined work process. This saves your company time and money. The first functionalities of Copilot for Finance are available this month, more possibilities will follow in the spring of 2025.