How Copilot in Dynamics 365 Finance and Operations Boost Efficiency

Copilot in Dynamics 365 Finance and Operations uses the power of generative AI to provide in-app support and guidance across modules for various processes. However, before we get into the details of Copilot’s capabilities in Finance and Operations apps, let’s clear some air around this solution first.

Dynamics 365 Finance and Operations is a popular ERP by Microsoft which is now treated as two different solutions - Dynamics 365 Finance and Dynamics 365 Supply Chain Management.

Meant for mid-to-large sized businesses, organizations, based on their requirements, can use any of these ERPs, individually or in combination to fulfill their needs for having a more robust ERP solution.

The Need for Dynamics 365 Finance and Operations

Today, when things are changing at a much faster pace than ever, organizations heavily rely on ERPs to manage their financial processes, supply chain operations, and overall operational efficiency.

Microsoft Dynamics 365 Finance and Operations (D365 F&O) does exactly that. Although these solutions come fully-fledged to take care of every aspect of your business, one feature that stands out and makes them better than their competition is Microsoft Copilot. It is an AI-powered assistant that comes integrated with these solutions and takes productivity to a whole new level.

As an informed companion, Copilot offers real-time suggestions, responds to questions, and makes difficult activities easier. Let's see how Copilot in Dynamics 365 Finance and Operations boosts efficiency.

What is Copilot in Microsoft Dynamics 365 Finance & Operations?

Microsoft Copilot brings AI capabilities that enhance the application experience and functionality of finance and operations apps.

According to a Special Report from the Work Trend Index, 70% of initial Copilot users reported increased productivity, with 29% observing improvements across various activities, including meetings, emails, composition, and information retrieval.

Now, let’s check out some key points about Copilot in Dynamics 365 Finance and Operations:

1. Sidecar Interface

Copilot is integrated as a sidecar within the application and delivers interactive assistance to users through a conversational interface. This intuitive chat experience helps users navigate the application's functions and data effortlessly.

By understanding user inquiries, it offers the required assistance by providing relevant information based on their needs.

2. Embedded AI

Copilot also adds intelligent capabilities directly to the application itself. These features bring AI to the center of the application experience. For instance, in the Confirmed Purchase Orders with Changes workspace, built-in AI capabilities help users understand and react to changes in confirmed purchase orders.

3. External Agents

Copilot can also be used externally to coordinate across different apps and tasks. With the help of Copilot, users can ask questions about finance and operations data and get responses in no time.

4. Responsible AI

Microsoft ensures responsible AI practices with Copilot to maintain user privacy through stringent data protection measures and controls content generation for relevance and safety.

Do you know that Copilot can automate tasks, enable smart decisions, and improve ROI by up to 457%? For more exciting insights like this, make sure to check out our recently published white paper on ‘Microsoft Copilot: The Catalyst for Transformation in Your Business’. Download your copy now!

How to Enable Copilot Capabilities in Finance and Operations Apps?

To enable Copilot capabilities in finance and operations apps, follow these steps:

1. Enable the SQL Row Version Change Tracking License Key

• Go to System Administration > Setup > License Configuration.
• Navigate to the Configuration keys tab and find the SQL Row Version Change Tracking (Preview) key.
• If it’s already enabled, you can skip the rest of this procedure.
• If it’s not enabled, do it with the help of the SQL Row Version Change Tracking (Preview) key.
• Make sure to put your system into maintenance mode before making changes and turn off maintenance mode afterward.

2. Enable Power Platform to Publish Bots with AI Features

• Open the Power Platform admin center.
• Confirm that Power Platform Integration is enabled in Microsoft Dynamics Lifecycle Services.

3. Install the Copilot Application

• Install the Copilot within your finance and operations apps environment.

How Can Copilot in D365 Finance and Operations Be Helpful for the Customers?

Specifically for Dynamics 365 Finance and Operations (D365 F&O), Copilot offers functionalities that improve the user experience within the application itself. Here's how it can be helpful:

• Generative Help and Guidance

Just think of having a built-in AI assistant that offers in-application support via a chat-like feature named Sidecar. This function enables you to inquire about functionalities, obtain detailed guidance for executing tasks, or seek assistance while checking out complex features.

• Data Insights and Summarization

Copilot sifts through your D365 F&O data and presents relevant and useful insights right in the Sidecar. It has the ability to condense complex data collections, identify patterns, or address particular inquiries about your financial data. This eliminates the need for you to spend time combing through reports and spreadsheets.

• Drafting Emails and Communication

Copilot can simply draft emails based on the context of the work you are doing within Dynamics 365 F&O. For instance, if you're working on a sales quote, Copilot might suggest email drafts customized to follow up with the customer. This can help streamline communication and save a lot of time writing emails from scratch.

• Extensibility and Customization

While Copilot offers pre-built functionalities, it can also be extended with custom scenarios. Developers can tailor Copilot's assistance to fit specific workflows or business needs within your D365 Finance & Operations environment.

Overall, Copilot in Dynamics 365 Finance and Operations aims to make you a more efficient and informed user. It provides real-time guidance, helps you understand your data better, and streamlines communication tasks – all within the familiar D365 F&O interface.

Ultimately, Copilot serves as more than a mere chatbot; it functions as a reliable and dependable companion for users of D365 for Finance and Operations. During the process of digital transformation, the use of Copilot is essential in improving productivity, minimizing obstacles, and facilitating more effective decision-making.

Copilot is available to assist individuals in various roles such as financial professionals, supply chain managers, and project leads, in navigating the intricate aspects of Microsoft Dynamics 365 Finance and Operations.

Choose the Best Dynamics 365 Finance and Operations Implementation Partner

Dynamics Square is a leading Dynamics 365 implementation partner in the USA with a team of experts who ensure smooth implementations and migrations.

Should you need any help, don't hesitate to get in touch with us at arish.siddiqui@dynamicssquare.com or give us a call at +1 281 899 0865.