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Throughout the history of technology, new innovations tend to first reach developers, followed closely by the finance sector, where enhanced tools can significantly improve the precision with which financial professionals model reality. For years, Excel has been the cornerstone of financial functions; it is where quarterly closes are finalized, forecasts are scrutinized line by line, and every figure is accounted for with a clear source. As artificial intelligence begins to permeate the finance industry, it must adhere to the same rigorous standards, demonstrating transparency in its calculations and relying on trusted data. Currently, Microsoft 365 Copilot for Excel is setting a high benchmark for AI in finance.
Within the realms of Financial Planning and Analysis (FP&A), Accounting, Tax, Compliance, and Treasury, Microsoft Finance is integrating Copilot in Excel into real-world workflows. This integration allows teams to minimize time spent on gathering information and reconstructing analyses, enabling them to focus on making informed decisions. The feedback from finance teams, who rigorously test its capabilities, helps elevate this product to meet the exacting standards required by financial professionals.
Recently, new features have been rolled out aimed at assisting finance professionals. The introduction of skills supports common financial workflows, while new connectors provide access to trusted data and enhanced traceability features. The latest Copilot enhancements undergo thorough evaluation against various task complexities and benchmarks that reflect daily finance operations, ensuring satisfactory multi-step workflows with verifiable results.
The development of these new capabilities has been bolstered by a partnership with the Financial Modeling Institute (FMI), which has provided a resource library of genuine financial modeling cases critical to assessing Copilot’s effectiveness in finance tasks.
The updated Copilot incorporates skills that allow teams to establish how it should execute frequent processes, such as developing a discounted cash flow (DCF) model, closing financial records, updating monthly reports, or performing variance analyses. Rather than starting anew each time, these skills can guide Copilot through prescribed steps, ensuring outputs are structured, formatted correctly, and ready for review. Additionally, a library of sample finance skills is available, and users have the capability to create custom skills using an open standard markdown file stored in OneDrive.
Furthermore, developers and partners will soon have the opportunity to create and launch skills through Microsoft Marketplace and Microsoft 365 Admin Center, with initial collaborations already in progress with finance and enterprise resource planning solutions such as LSEG, Ramp, Rogo, Samaya AI, Velixo, and Vena. Copilot is also equipped to adapt to individual user preferences, maintaining consistent settings through personalization features and capturing workbook rules pertaining to structure, naming conventions, and formulas.
In terms of data, Copilot in Excel directly connects to relevant financial data sources, sourcing updates from market data, fundamentals, and research, which facilitates a more efficient analysis. New connectors, including those from LSEG and Moody’s, have already been introduced, with more options being added to streamline data from both public and private markets.
Examples of the new data capabilities include CB Insights, which provides intelligence on private companies, Daloopa for audit-ready fundamentals sourced from SEC filings, and FactSet, which connects financial workflows to institutional-grade data used across investment firms. Other enhanced connections come from Morningstar, PitchBook, and S&P Global, giving teams access to a wealth of financial metrics and analysis tools that eliminate the need for manual data entry.
With the combination of updated skills, personalized features, and reliable data connections, these advancements are designed to transform how finance teams work daily. Copilot’s workflow enhancements aim to facilitate complex financial scenarios, enabling seamless execution of tasks from closing the books to updating forecasts and analyzing portfolio performance.
Importantly, along with delivering answers, the new Copilot design shines in its transparency. It allows users to preview its suggested plans of action, specify which ranges and formulas will be modified, and track all changes made collaboratively within the workbook. This system ensures every alteration made by Copilot is documented, promoting accountability and clarity in financial reporting.
The enhanced features of Microsoft 365 Copilot are now available for users across Excel for various platforms, including Web, Windows, and Mac. Custom skills can be accessed via the Insiders channel, with full rollout expected shortly. New partner-built skills are slated for release in late 2026. For further insights into building and deploying these skills, check here. The progress of these features will be rolled out progressively, with specific availability dependent on regional licensing requirements.
