Business Resource Guide

Microsoft Copilot
& Your Business Data.

What every small business owner needs to know — what Copilot accesses, what the real risks are, and how to protect your firm's data.

Booth Petry | Petry Bookkeeping | June 2026
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⚠ Please Read Before Proceeding

A quick note before you dive in: the steps in this guide describe settings that exist in Microsoft 365 as of June 2026. Every business environment is different. What works cleanly in one setup can have unintended side effects in another. Before changing any connected experience settings, user permissions, or group policies, have a conversation with your IT department or a qualified IT professional first — they need to verify that any changes are appropriate for your specific environment. Registry edits, permission changes, and network policy modifications especially should never be a solo project and only done by an experienced technician. Think of this guide as a way to get informed and start the right conversation in your firm — not a self-service technical manual to work through alone.

What Is Happening

Microsoft has begun embedding its artificial intelligence assistant — called Copilot — directly into Microsoft 365 applications including Word, Excel, PowerPoint, and Outlook. This is not a separate product you opt into. Depending on your subscription plan, it may already be installed, active, or in the process of being activated on your computers without a separate notification.

This is not necessarily cause for alarm, but it is cause for awareness. Understanding what Copilot does, how it accesses your data, and what controls are available to you is an informed business decision — not a technical one.

⚠ Why This Matters for Financial Services Firms

Firms that handle client financial records, bank statements, tax documents, payroll data, or any personally identifiable financial information carry a heightened responsibility. Copilot accesses everything in your Microsoft 365 environment that you have permission to see — including documents, emails, and shared files. In a professional services context, that is a much larger risk surface than in a typical small business. If your firm maintains a Written Information Security Policy (WISP) or makes data privacy representations to clients, those commitments may be affected by AI tools operating in the background of your daily software.

What Microsoft Copilot Actually Does

There are two distinct versions of Copilot in Microsoft 365. Understanding the difference matters:

Free — Included in Most Plans

Copilot Chat

The lighter version now bundled into most Microsoft 365 subscriptions at no additional charge. Functions as an AI assistant inside Word, Excel, PowerPoint, and other apps. Became active for most subscribers during late 2025.

What "Connected Experiences" Are

Copilot is enabled by a broader Microsoft framework called Connected Experiences — cloud-based features that use your document content to power AI suggestions, grammar checks, design recommendations, and live data enrichment. There are three categories, and the distinction matters:

⚠ Higher Risk

Experiences that analyze your content

PowerPoint Designer, Editor/grammar AI, Translator, Smart Lookup. These send document content to Microsoft servers for processing. This is the primary privacy concern for businesses handling sensitive data.

✓ Lower Risk

Experiences that download online content

Online templates, Insert Online Pictures, weather in Outlook calendar, Excel data types. These pull content in from Microsoft/Bing but do not send your documents out.

Optional

Optional connected experiences

LinkedIn integration, Bing-powered features, and third-party add-ons. Separately controlled and lower priority for most firms.

What Microsoft Says vs. What Security Experts Say

Microsoft's Official Position

Microsoft states that document content processed by Copilot and Connected Experiences is not used to train its AI models — meaning your business data is not being fed into a public language model. Copilot also operates within your Microsoft 365 tenant, respecting your organization's existing permission and compliance settings.

The Realistic Security Picture

The independent security community has identified concerns that go beyond data training. The more significant risks are:

⚠ Specific Note for Bookkeeping and Accounting Firms

If your Microsoft 365 environment contains documents for multiple clients stored in shared or broadly accessible folders, Copilot could potentially surface one client's information while you are working on another's. Client data isolation — keeping each client's files in properly scoped, permission-limited folders — is your most important protection, regardless of whether Copilot is active. If your firm makes written representations to clients about data handling, AI tools operating in the background of your daily software warrant a policy review.

A Better Alternative: Deliberate AI Tools

Understanding the risks of embedded AI like Copilot naturally raises a question: is there a safer way to use AI in your business? The answer is yes — and the distinction comes down to one word: deliberate.

Copilot is ambient — it runs in the background of your daily software, sees everything in your environment, and acts on your behalf without you consciously deciding what to share. Tools like Claude and ChatGPT (on the right plan) work differently. You open a session, you decide exactly what context to provide, and nothing happens without your direct input. That fundamental difference changes the security picture entirely.

Why Session-Based AI Tools Are More Protective

Comparing Your Options

The three tools your firm is most likely to encounter — Microsoft Copilot, ChatGPT, and Claude — have meaningfully different security profiles depending on the plan. Here is how they compare for professional services use:

Microsoft Copilot
Embedded · Always-On
Deeply integrated with Word, Excel, Outlook
No separate login or tool to learn
Included in many M365 plans at no extra cost

Accesses your entire M365 environment automatically
Can surface one client's data while working on another's
Ambient — operates without deliberate user input
Prompt injection vulnerabilities documented (EchoLeak)
Sensitivity labels do not always carry over to output

General productivity tasks with non-sensitive content
Firms with well-scoped file permissions and a WISP in place
Requires Active Configuration
ChatGPT
Session-Based · OpenAI
Session-based — you control what data enters
No access to your file system or email
Team & Enterprise plans: training off by default, data processing agreement included
Widely supported, large ecosystem of integrations

Free and Plus plans: training on by default unless opted out
Personal plans do not include contractual data protections
Team/Enterprise plans carry an additional monthly cost

Business use on Team or Enterprise plan only
Firms already in the OpenAI/Microsoft ecosystem
Safe on Business Plan
Claude
Session-Based · Anthropic
Session-based — you control what data enters
No access to your file system or email
Teams & Enterprise plans: no training on your data, data processing agreement included
Strong performance on document analysis, writing, and structured tasks
Built with an explicit focus on safety and professional use

Free, Pro, and Max plans: data retention up to 5 years if "Help improve Claude" is enabled
Teams/Enterprise plans carry an additional monthly cost
Smaller third-party integration ecosystem than ChatGPT

Business use on Teams or Enterprise plan only
Firms prioritizing document work, analysis, and client communication drafting
Safe on Business Plan
The Practical Takeaway

For any professional services firm handling client financial data: use deliberate, session-based AI tools on business plans — not embedded ambient AI on personal plans. The monthly cost of a business plan is modest. The cost of a data incident is not.

Making an Informed Decision for Your Firm

Not every business needs to take the most restrictive approach. The right decision depends on your industry, your data, and how you use Microsoft 365 today.

Your SituationRecommended Action
My firm handles highly sensitive client financial dataTurn off ALL content-analyzing connected experiences + disable Copilot explicitly
I use AutoSave on OneDrive dailyTurn off ONLY content-analyzing experiences; leave download-online-content ON
I use co-authoring / real-time shared editingDo NOT use the master "turn off all" toggle — use per-category controls instead
I want to block Copilot but keep everything elseDisable Copilot in each app directly via File → Account → Privacy
I want the most locked-down configuration possibleDisable all connected experiences + Copilot + set diagnostic data to "Neither" in Trust Center

Step 1 Find Out What You Have

Before making any changes, confirm which Microsoft 365 plan you are on and whether Copilot is already active.

Check Your Plan

Check If Copilot Is Currently Active

Step 2 Action Checklist — Protecting Your Business

The steps below are organized from least disruptive to most restrictive. Work through them based on your decision from the framework above. These steps apply to Windows computers running Microsoft 365.

A. Disable Copilot Directly in Each Application

The most targeted option — turns off Copilot specifically without touching other connected experiences like AutoSave. Recommended first step.

Word, Excel, PowerPoint

1
Open Word. Go to File → Account → Account Privacy → Manage Settings.
2
Look for a Copilot toggle or option. In newer versions of Word (build 16.93.2+), a dedicated Copilot on/off option is available directly in this panel.
3
Repeat the same steps in Excel and PowerPoint.
4
In Outlook: File → Office Account → Account Privacy → Manage Settings.
5
Restart each application after making changes and confirm the Copilot button no longer appears in the ribbon.

B. Turn Off Connected Experiences That Analyze Your Content

Disables AI content-scanning features (Editor AI, Designer, Smart Lookup, Translator) without affecting AutoSave or co-authoring.

All Office Applications

1
Open Word (or any Office app). Go to File → Account → Account Privacy → Manage Settings.
2
In the Manage Settings panel, locate "Experiences that analyze your content."
3
Toggle this category OFF.
4
Leave "Experiences that download online content" ON if you rely on AutoSave or online templates.
5
Click OK and restart the application.
6
Repeat for each Office application — Word, Excel, PowerPoint, Outlook.
⚠ Important: AutoSave and the Master Toggle

If you use the master "turn off ALL connected experiences" toggle rather than the per-category control above, you will lose AutoSave functionality for files stored on OneDrive. There are also reports of the master toggle affecting shared mailbox sync in Outlook Classic. The per-category approach in Step B avoids these side effects. Use the master toggle only if maximum restriction is your priority and you accept the trade-offs.

C. Turn Off Optional Connected Experiences

Disables LinkedIn integration, Bing-powered features, and third-party add-ons. Lower priority for most firms, but appropriate for a fully closed environment.

Optional Experiences

1
In any Office app, go to File → Account → Account Privacy → Manage Settings.
2
Locate "Optional connected experiences" and toggle OFF.
3
Repeat for each application.

D. Reduce Diagnostic Data Sent to Microsoft

By default, Microsoft collects usage and diagnostic data from Office applications. You can reduce this to "Required only." Advanced — optional for most firms.

Trust Center Settings

1
In any Office app, go to File → Options → Trust Center → Trust Center Settings → Privacy Options.
2
Under "Diagnostic data," select "Required diagnostic data only" rather than "Optional."
3
You cannot select "Neither" and continue receiving standard Office updates — leave at "Required" at minimum.
ℹ If Your Organization Uses Microsoft 365 Admin Center

If you manage multiple seats, these settings can be applied organization-wide through the Microsoft 365 Apps Admin Center (config.office.com) using Cloud Policy, which pushes settings to all users automatically. This is the recommended approach for firms with more than one seat — it ensures consistency and prevents individual users from inadvertently re-enabling features. Search for "Allow the use of connected experiences in Office that analyze content" in the Policy Management section.

What Still Works After These Changes

Regardless of which steps above you take, the following will continue to function normally:

Outlook email sync and sending/receiving mail
OneDrive AutoSave — if you used the per-category approach (Section B)
Core Word, Excel, and PowerPoint features — formatting, formulas, charts
Microsoft 365 licensing and authentication
Teams and SharePoint — not affected by Office connected experience settings
Manual spell check and built-in (non-AI) grammar tools

Ongoing Vigilance

Microsoft updates its 365 applications automatically and has a history of re-introducing features or adjusting default settings through updates. A one-time configuration is not sufficient.

✅ A Note on Using AI Responsibly in Your Firm

Turning off Copilot in Microsoft 365 does not mean avoiding AI tools altogether. There is an important difference between an always-on AI embedded in your daily software that has access to everything in your environment, and a deliberate session-based AI tool where you control exactly what information you share. Many professional services firms are finding that a thoughtful, controlled use of AI — where the user decides what context to provide — is both more secure and more effective than ambient AI that operates in the background.


Booth Petry
Petry Bookkeeping LLC  ·  San Antonio, TX  ·  June 2026
Authored by Booth Petry  |  Made readable by Claude  |  Make of that what you will.

The steps in this guide describe settings that exist in Microsoft 365 as of June 2026. Every business environment is different. Before changing any connected experience settings, user permissions, or group policies, have a conversation with your IT department or a qualified IT professional first. Registry edits, permission changes, and network policy modifications should never be a solo project and only done by an experienced technician. Think of this guide as a way to get informed and start the right conversation in your firm — not a self-service technical manual to work through alone.

This document is provided for general informational purposes only. It does not constitute legal, IT security, or compliance advice. Settings and features described are based on Microsoft 365 as of June 2026 and are subject to change. Consult a qualified IT professional for configuration decisions specific to your business environment. Petry Bookkeeping LLC is a bookkeeping firm — not a CPA firm. Julie Petry is an Enrolled Agent.

Questions About Protecting Your Business Data?

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