How Microsoft Copilot Wave 2 Can Streamline Your CPA Firm
September 05, 2025
Artificial Intelligence (AI) is no longer a concept of the future; it's here, and it’s reshaping how CPA firms operate. Microsoft’s AI-powered assistant, Copilot, is designed to simplify your workload, improve decision-making, and increase productivity across your firm. With Wave 2 now rolling out, Copilot is introducing even more powerful features tailored to streamline financial processes and administrative tasks.
What is Copilot?
Copilot is an AI-powered assistant integrated into Microsoft 365 apps like Excel, Word, Outlook, and Teams. It assists you with tasks like data analysis, financial reporting, email management, and document creation using natural language commands. For CPA firms, this means spending less time on routine tasks and focusing more on client strategy and financial advising.
Why CPAs Should Care About Copilot
Running a CPA firm means juggling audits, financial reports, tax compliance, and client communication. Copilot offers solutions to reduce time spent on repetitive tasks, improve accuracy, and enhance productivity.
Here’s how it can benefit your firm:
Automate Repetitive Tasks: Save hours by automating data entry, report generation, and financial analysis in Excel.
Accurate Data Insights: With Python integration in Excel, gain deeper financial insights without the need for advanced coding skills.
Enhanced Client Communication: Draft polished emails, summarize client conversations, and generate reports quickly with Copilot’s AI capabilities.
Efficient Collaboration: Utilize Copilot Pages and BizChat to keep teams aligned and projects moving forward.
Key Features for CPA Firms
Advanced Data Analysis with Python Integration: Analyze large datasets, forecast financial trends, and build visual reports faster than ever.
Automated Financial Reports: Generate balance sheets, cash flow statements, and profit and loss reports by simply describing what you need.
Smart Email Management: Copilot in Outlook summarizes long email threads, suggests responses, and organizes your inbox, making client management easier.
Meeting Summaries and Action Items: In Teams, Copilot tracks conversations, highlights key points, and assigns tasks to ensure nothing falls through the cracks.
Effortless Document Creation: Whether it’s client proposals or compliance reports, Copilot in Word creates well-structured documents that are ready for review.
How to Get Started with Copilot
Implementing Copilot is straightforward:
Ensure Microsoft 365 Compatibility: Copilot is available as an add-on for specific Microsoft 365 plans. Confirm your subscription includes access to Copilot.
Pilot with a Small Team: Start by enabling Copilot for a select group within your firm. Gather feedback to refine usage before a full rollout.
Provide Training: Offer resources and hands-on training to ensure your team understands how to maximize Copilot’s features.
Real-World Impact
Firms that have integrated Copilot report faster decision-making, improved accuracy in reports, and enhanced client satisfaction. By reducing manual tasks, accountants can focus more on strategic advising and business growth.
This article was submitted by Kellen Cowan of Newave Solutions.