Exchange Rate Upload
Fully automates the load of currency exchange rates into your JDE E1 application.
FXLoader automates the process of loading rates, to ensure accuracy and save the manual task of entering the rates.
Provides rates from trusted providers including OANDA, Xignite and the European Central Bank.
Runs on Oracle Cloud allowing customers to configure the currencies, timing, sources and other options for their FX rates.
About Exchange Rates Upload
Exchange Rate Upload is an automated integration that ensures FX rates are always up to date and authentic in your ERP. If your ERP uses multiple currencies, you need accurate currency exchange rates. Exchange Rate Uploa is incredibly quick and easy to set up, covers all scenarios you will ever need and is loved by all JDE clients.
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The challenge
If you use JD Edwards EnterpriseOne in an international multi-currency environment you are very much in need of currency exchange rates or exchange rate uploads to convert foreign currency transactions to the base currency of your organization. Examples include supplier invoices and payments, customer invoices and receipts, purchase orders and sales orders.
You are likely facing regular manual exchange rate entries through the standard JDE screen sometimes for 20+ currencies and/or from one or more sources. Sometimes there could be even a definite specific requirement for the source of rates for each currency pair.
Maybe currency pairs need to be created via a triangulation calculation from combinations of the various sources, and some even via triangulation from other triangulated rates.
The manual entry through the JD Edwards screen can become time consuming, even if you only need a relatively small number of currencies.
As with any manual process, mistakes occur which can have a major impact on your business:
Sample 1) If rates are not entered on a particular day, then foreign currency transactions will use out of date rates.
Sample 2) If a rate in entered incorrectly or “the wrong-way”, the impact on your account balances may not be noticed for weeks but can be significant.
Ideally, all this needs to be automated, with zero user intervention.
How it works
The Exchange Rate Upload solution is based on a simple, cloud-based configuration and exception notifications.
It pulls market and official FX rates from trusted authentic sources resulting in a 100% automated availability of the latest exchange rates.
The Cloud Service of this E1 add-on allows the flexibility needed to get rates for different currency pairs from different sources. Importantly, the triangulate stages can be set up to calculate cross-rates for specific sets of currencies, from a particular pivot currency.
FX rates can be sourced from OANDA, Xignite, Reuters, XE, Open Exchange Rates and over 50 central banks, including the ability to mix and match.
The service is configured according to your preferences for schedule, currencies, cross-rates and rounding and a combination of daily updates and monthly updates can be set-up as well.
The service then downloads the rates from the various source overnight, so the latest rates are available whenever they are needed. Users are notified in the event of any issues, but otherwise the process runs silently in the background.
100% automation is provided.
JD Edwards integration
The solution runs on Oracle Cloud allowing customers to configure the currencies, timing, sources and other options for their FX rates.
Once configured, the solution runs on your chosen schedule to retrieve the rates, process them according to your options and save in JDE format.
FXLoader can send rates to JDE via an orchestration or JDE can pull rates via a provided UBE.
Watch it in Action
Unlock premium content & view the full recording of our latest webinar.
Title
Mastering Multi-Currency in JD Edwards with Automated Currency Rate Loading
Topics
Watch this insightful webinar where we’ll demonstrate how you can revolutionize your JDE currency rate management in under 30 minutes.
Recorded in
June, 2024
Benefits
- Avoids mistakes when entering rates manually
- Rates always up to date from a trusted source
- Removes the manual effort of entering rates
- Flexible dates for load
Key Features
What this solution can do for your business
1. No user intervention
No user intervention
2. Bid, Ask or Mid-point
Bid, Ask or Mid-point available for market rates
3. Scheduling
Runs on your chosen schedule and frequency
4. Rounding Options
Flexible rounding options
5. Market & Central Bank Rates
Market and central bank rates
6. Notifications
Email notifications for exceptions
7. Multiple sources
Multiple sources available
8. Cross Rates
Optionally triangulate to create cross rates
9. Automated retry
Automated retry in the event of errors
Reviews
What customers say about this add-on
“The interface is working very well – we have encountered no issues since enabling.” – Chadd Fowble, Manager @ Datacard Group
“This is a big win for our Finance team. Not only will this save time every month; but is a key process improvement for our SOX initiative” – Finance Business Analyst @ a large US software company
“After talking to our finance team the feeling on FXLoader is “It just works”. –Kevin Brownlie, Sr. Director, Information Systems @ Hologic
“The fast and easy setup, coupled with first class customer support easily makes FXLoader the best choice for Oracle Cloud Applications.” –Paul Jamese, Oracle Application Manager @ Perform Group
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