20 use cases for Copilot Pro for FP&A Teams

If you don’t know what is Microsoft Copilot Pro, read this first.

In a nutshell, Copilot Pro is a powerful AI assistant released by Microsoft in January 2024 that can help financial planning and analysis (FP&A) teams with various tasks and scenarios.

Here are 20 possible use cases for Copilot Pro for FP&A teams:

1. Budgeting and forecasting: Copilot Pro can help FP&A teams create and update budgets and forecasts based on historical data, market trends, and business drivers. Copilot Pro can also provide suggestions and insights to optimize budget allocation and performance.
2. Variance analysis: Copilot Pro can help FP&A teams analyze the differences between actual and planned results, identify the root causes, and recommend corrective actions. Copilot Pro can also generate variance reports and dashboards with relevant metrics and visuals.
3. Scenario planning: Copilot Pro can help FP&A teams explore various scenarios and their impact on the business, such as changes in revenue, costs, cash flow, or market conditions. Copilot Pro can also compare and evaluate different scenarios and provide guidance on the best course of action.
4. Financial modeling: Copilot Pro can help FP&A teams build and maintain complex financial models, such as discounted cash flow, valuation, or profitability analysis. Copilot Pro can also validate and test the assumptions and parameters of the models and provide feedback and suggestions to improve accuracy and reliability.
5. Financial reporting: Copilot Pro can help FP&A teams generate and automate financial reports, such as income statements, balance sheets, cash flow statements, or key performance indicators. Copilot Pro can also customize and format the reports according to the audience and purpose and provide summaries and highlights of the main findings and trends.
6. Financial consolidation: Copilot Pro can help FP&A teams consolidate and reconcile financial data from multiple sources, such as subsidiaries, divisions, or regions. Copilot Pro can also handle currency conversions, intercompany eliminations, and adjustments and provide consolidated financial statements and reports.
7. Financial audit: Copilot Pro can help FP&A teams conduct…