Transcription
How can you increase your efficiency with CHP and make smarter decisions that increase your value? This is the question that many businesses and CFOs ask themselves. I've helped more than 100 companies implement AI for finance. And today I'm going to show you nine hacks and tricks with Chip Plus that will make your work seven times more efficient.
Yes, Chip Plus or business or enterprise if you have more than 150 licenses. If you value your time and want precision in numbers and the work, then you got to spend the money. From my experience, if you get the free account, you don't get the full scope of all of what Chip has to offer. For example, the ability to analyze not only text, but also images with numbers. A lot of people only put text or Excel files into their chip. But there is something that works better because when you give an Excel file, it's kind of messy for the AI. You have so much information inside and actually, you know in the Excel file what you want to analyze. Instead, just screenshot what you need in the Excel file or in a PowerPoint you received from outside and then send it into your CHPT. You don't ask for a specific analysis. You ask, what would be the 10 best analysis to perform on this data and make sure you have three innovative and out-of-the-box analysis. And this is when the thinking mode is going to be super powerful, and this mode is not available on the free version. You will see it will do wonders and you will discover analysis that you never thought about.
Please note that I'm asking a very specific question and providing a lot of context because JPT should be treated like a new intern. So context is everything. This is why I have created the CSI and FBI framework. I have taught that to more than 10,000 finance professionals, and you are going to learn it as well and use it straight away. CSI stands for context specific instructions. Always give the context. For example, you explain who you are, in which company you work, the situation you are in, then specific what is the problem, and then give an instruction. Because if you don't tell your new intern what to do, imagine your new intern next to you and looking at you like, okay, what do you want me to do?
Once you have given AI these instructions, you will see the CSI alone is already good. But if you add the FBI with the F being format, B being blueprint, and I identity, you will have a much better output from Chad GPT. So on the format, you can for example explain that you want a table, you want Excel formulas, you want to create a file, you want to draft an email. Just adding that improves also the output because you don't need again to reformat it yourself. Then blueprint. This is where you are going to change the quality of the output. You have something in your mind. You know already what you want. So giving some keywords like having quick wins on a cost reduction plan or for an automation, if you mention the tools that you are working with, this is already just enough to change the quality of the output. And finally, the identity. You can ask AI to act as a specific person, for example, as your coach or as a specialist in Excel. Try this. You will see that the CSI and FBI will help you and change the quality of your output.
By the way, people always ask me if I have a guide where I put all of my knowledge and my prompts. I do have one. If you want to get it, just check the link in the description below. Speaking of good prompts, have you ever found a really good prompt that works and that you would like to reuse on a regular basis? Well, you can turn that one lucky prompt into a custom GPT. Let me show you here how to change that.
So, we have the transcript. As you can see, I went into JPT and there I use the CSI and FBI framework saying that I'm an FPNA manager. I want insights from the transcript and I want to create the content for board review. I give the structure. I give also some specific instructions like I always want to have the quote because I want to know from the meeting what was said, and then I will see how I will reframe it. And at the end, I want to finish with a table summarizing the discussion. So you see the first output is not bad. I have the structure and I have always the quote like I asked, but something is missing for me. It's a bit too long and too boring. So what I said is, be more punchy, use figures, and also in this table, I want visualizations. And now you see how the style changed, much sharper, using bullet points and figures, and at the end, the table now has visualizations. But still, I'm not happy because there is a technique that I want to use in the executive summary for my slides, which is the what, so what, now what. And now, because I asked this, look at how my executive summary changed. Now it has the what, so what, and now what.
So now imagine you start from a problem and then you give a good prompt, but the output is not good enough. So then you have another prompt, and another prompt, and another prompt, and another prompt. And basically, if next time you had the same situation where you had a transcript and you want to get the same output, you will need to go again during 20 minutes through all of these iterations. Now, the technique to change that, it's called the system prompt. And we are going to just prompt that the result now looks good, give me the system prompt which will give me all of it from the first go, and also make it variable because I will have different transcripts, I will have different situations. And look at the full prompt that was given to me by AI. Even me, I know how to use AI and I've written thousands of prompts, I will never be able to write something that precise. Nice.
So now what I will do is I will just copy the whole prompt. I will go and create a custom GPT by clicking here, explore GPT, then create the instructions that we have. We just paste it in the instructions. We name our GPT transcript analyzer. In the description, we just say that it analyzes transcripts. And really important, people forget that in the bottom, you need to activate code interpreter and data analysis if you want that it's able to work with files. So now I can create. And here you decide with which person you share, either within your own environment and your own business. That's the advantage of having a business license or enterprise license. My team can have access, or you can share it with the public. But I don't recommend to share with the public something that you do for your business. So either keep it for yourself or keep it for your business.
So now let's try this GPT. And now imagine that somebody else in my team wants to get the same output and prepare that for me. They just go in this GPT, they add the transcript. And you know how I told you that you need to prompt super well? Look at what I will do here. I will write nothing. I will just press enter. And look, I didn't say anything. It's already following the method that we had before. We have the executive summary with what's so what. We have the quote. It uses bullet points and figures. And at the bottom, it has the table with the visualizations, proposals. Imagine how much time you will save now for each transcript, and how much your team is going to save time if everybody is using it.
That was a cool example. And we all know that AI is really good at writing. But I know that you spend your time in Excel, so you might not care about writing. This is why I'm going to show you how Chpt can create an Excel model in minutes. This is what you are going to do. You will go in GPT. You will explain the forecast you need. Be precise, but you don't need to write a book. Explain the scenarios that you have. For example, revenue plus 2%, cost plus 2%. So just one or two sentences. Then for each of the other scenarios, explain what are the differences. Maybe on the second scenario, you show that you expand more to the US. On the third scenario, maybe you do a pessimistic scenario. Don't forget, you need to make sure that chip is in thinking mode. And then you upload your latest actuals in JGPT. Cuz like this, chip will keep the format and knows what is the basis. If you are asking if you can upload your data inside, well, that's the beauty of having a business or enterprise license. It has enterprise-grade security level backed by a SOC 2 Type 2 security report. And look, after a few minutes, this is what we get. An Excel file with formulas. When I change assumptions, it also changes. And you have to review, but imagine now it's 6:15. You take another 10, 15 minutes to review, and at 6:30, you are done. Not bad. No better than spending your evening in the office.
If you optimize prompts correctly and you give your company's knowledge, then those Excel models will work really well for you. However, I have to tell you, I thought I was really good at Excel. But still, sometimes I need time to find the perfect formula. Instead of spending 20 minutes, 30 minutes on Google, YouTube, forums, I just type my problem into chipt by giving where is the information, so which sales, and asking what will be the best formula for this. And instead of just explaining me the formula, it gives me exactly the formulas with the right sales inside that I can copy and paste and use. And even my team that are not that good with Excel. I told them how to use AI with Excel. And now I discovered super formulas that are working really well, and we automate so much work in Excel thanks to that.
Cool. Now we have this Excel file ready for us. But you might tell me, we still need to analyze it. And this is why I want to show you my five steps framework on how to do financial analysis with AI. Remember, give the context, who you are, what is the goal of the analysis. You need to ask AI to check the consistency of the data. Then second, you are going to ask AI to think about the types of analysis it can do. You have the descriptive, so what happened? You have the diagnostic, so why it happened, so the detail of it. And then the two others that are often forgotten by AI and also humans. The predictive, so what will happen? And then the prescriptive, what can we do to change what will happen? And if you just ask AI to add these four types of analysis, it will do wonders. Then the step number three, you are going to ask to perform the calculations, but also to detail them to you. So like this, you can see the calculations. Step number four, you want visuals because it's a bit dry to see all of these text and calculations without really seeing an insight. And us humans, a visual is much better than a lot of text. And number five, you can ask AI to create commentaries and write like a seasoned CFO.
Three additional tips when you want to do financial analysis with AI. One, make sure that you review and you own the financial analysis. At the end, your credibility is at stake, and you cannot use AI results that you don't understand and that you didn't verify. Number two, your analysis will be much better if your data is structured. And if your data is messy, instead of not doing anything, just start a previous step before the analysis to clean the data. Or if your data is clean, but the file is so big, just ask AI to identify the different tables in your file. And then when you know on which table you want to work, just mention to AI to work on this one. And number three, this is good for ad hoc analysis. But if you are redoing it every month, ask AI how to productize this in your own file. So in Excel, or maybe with some automations like Google Script or VBA or Python.
And what's the next step after that? You have created your Excel file, that you have improved it with super formulas, and then you even did your financial analysis on this. You'll have to build your financial presentation. A few months ago, I will never have recommended to create your presentation inside Chajb because it was just bad. Now you can get a presentation with nice design, the appropriate text, and the craziest part, it also creates graphs that you can change manually. Now, what you will do, you continue after the functional analysis that we just did together, and you will ask JGPT to create a presentation in PowerPoint. And really important, you are going to say this. Ask to first give the structure. What do you want in your presentation? Do you want an executive summary? Do you want a review on revenue? This is up to you and your style of presentations. Second, you are going to explain that you want graphs inside, and make sure that you say that those graphs are editable and that you can change the values in Excel after. Then third, you need to give your branding if you want to have the same colors. So either you give the color of your company, or what a lot of people do is they don't ask any branding, they get the PowerPoint like it is, and then they apply after the branding inside PowerPoint. And look, after a few minutes, JPT created this presentation, which myself, and I've created hundreds of presentations, I will never be able to do that fast and that good. So for your next presentation, try this. It will save you time for you and your team. And seriously, I'm quite blown away that now it can do graphs inside the PowerPoint.
Okay, we did a really pretty presentation. But I have to tell you, I think the new way to lead a meeting is to use dashboards. In my corporate trainings, this is the number one tip which is blowing people's mind. So how do you create a dynamic dashboard like this one? Do this. Take from your general ledger the cost by department, and that you can compare with last year or last month. Then you go into chaptt, and you are going to say that you want to do a cost center review in a dynamic dashboard. And if you want to make it even more pretty, what you do is you say that you want a glowy modern dashboard with maybe dark design or blue design. And the key point here is to ask to get an HTML dashboard. And if you want for really the last tip to make it even better, you ask to have a CSV upload button like this. Every month, you can refresh it and reuse it with new data. You upload your file, and you see after a few minutes the dashboard is created. It's in HTML. So you can download it and have it on your computer, or you can share it with somebody. And when we click on it, what do we see? A super well-designed dashboard with filters. So like this, if you want to meet marketing and show them their cost, you just click, poof, marketing, or finance, or operations. Or maybe you want to make a focus on personal cost, or you want just to have the bridge between last year and this year, or you just want to see some specific cost by the filtering button. This dashboard is amazing, and we just did it in five minutes. Imagine your next meeting when you come with this dashboard. First, you will bring a lot of value because people will not anymore have to find out where to get the information in the Excel file. You will save a lot of time for you and your team. And I can tell you, finally, finance will look modern, sexy, and I hope for you, a lot of people will talk good about you and your team.
If you want to continue to learn and apply all of these tips, check my guide and also share it with your team. And remember, robots are coming, so stay.