Recently, Microsoft announced impressive findings from a study conducted by Forrester Consulting, commissioned by Microsoft, on the projected economic impact of Microsoft 365 Copilot on small and medium businesses (SMBs). This study surveyed and interviewed over 200 businesses with up to 300 employees across various industries, from retail to financial services.

According to the study, within three years of adopting Microsoft 365 Copilot, SMBs can achieve a return on investment (ROI) ranging from 132% to 353%.

Microsoft 365 Copilot: An AI-powered Assistant for Productivity

Launched in March 2023, Microsoft 365 Copilot is an AI-powered assistant integrated into Microsoft Office applications such as Word, Excel, PowerPoint, Outlook, and Teams. It interacts with users, enhances creativity, boosts productivity, and improves skills.

Investing in Copilot Brings Significant Benefits to SMBs

Forrester’s study highlights the positive impact of AI on SMBs, particularly in shortening product launch times, increasing productivity, and improving employee satisfaction and retention.

The study also shows that AI not only enhances productivity but also delivers remarkable results, making Copilot a strategic investment for sustainable business growth. Specifically, SMBs have reported:

A 6% increase in net revenue
A 20% reduction in operational costs
A 25% reduction in employee onboarding time

Faster Product Launches

Rapid product launches and timely responses to customer demands are critical to business success. The study highlights how Microsoft 365 Copilot not only increases revenue but also opens new business opportunities.

Specifically, 24% of businesses reported a 16% to 20% reduction in product launch time, while 27% saw improvements ranging from 11% to 15%. This helps businesses stay competitive in the market.

Additionally, Copilot optimizes business processes by mapping workflows and providing recommendations to eliminate inefficiencies. Users can share these insights with their teams for feedback before implementation. Copilot also monitors project progress, identifies areas needing support, and ensures timely completion.

Boosting Productivity

Employees in SMBs often juggle multiple roles, leaving them with less time for their core tasks. Copilot addresses this issue by handling repetitive tasks, allowing employees to focus on more critical work.

Copilot can also quickly identify key information in contracts with customers and suppliers. It prioritizes emails from important clients, ensuring urgent matters are addressed promptly. Additionally, Copilot can extract data from spreadsheets and documents, analyze information, and generate easy-to-understand charts, enabling faster decision-making.

Forrester’s study found that 51% of businesses reduced supply chain costs by 1% to 10%, while 59% cut operational costs by 1% to 20%. These results demonstrate how Copilot helps businesses reallocate resources to growth initiatives without overburdening employees.

Enhancing Employee Satisfaction and Retention

The study reveals that Copilot positively impacts employee satisfaction. By freeing up time for collaboration and task completion, many SMBs have reported an 18% increase in employee satisfaction, while attrition rates dropped by 11% to 20%.

Moreover, Copilot is being used to compile training materials and create presentations, enabling new employees to integrate quickly. Meeting summaries and email recaps from Copilot allow employees to stay informed even if they miss meetings. This not only reduces stress but also ensures smooth workflow transitions, fostering a more efficient and collaborative work environment.

Now Is the Ideal Time to Invest in AI

With potential benefits such as revenue growth, faster product launches, and substantial ROI, Microsoft 365 Copilot is becoming a valuable investment for SMBs looking to thrive in a competitive landscape.

Recently, Microsoft expanded Copilot’s language support to include Vietnamese, enhancing the experience for Vietnamese users. This marks a significant milestone, enabling Vietnamese businesses and organizations to fully leverage Copilot’s advanced features, strengthening the connection between technology and the local language, and accelerating Vietnam’s digital transformation.

(Source: Microsoft)