Oracle

Exchange Rate Loader

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As the UK’s strategic partner to FXLoader, we implement leading a solution that takes the latest financial currency exchange rates and automatically loads it direct into your Oracle application. The FXLoader is a fully packaged and lightweight solution that is easy to set up and requires no daily management.

Why is this important?

  • Elimination of Human error – This means zero risk. FXLoader pulls data straight from source (configurable to all key exchange rate suppliers) which means the calculations you run your exchange rates are always correct and up-to-date.
  • 100% Automated – As the exchange rate loader is fully automated and takes the latest exchange rates direct from source, there is no margin for error.
  • Time Saving – Historically this task is cumbersome and a resource drain whereby in-house IT staff have to manipulate spreadsheets in order to upload the data. Using the oracle exchange rate loader, we estimate a time saving of up to 4 days per month (depending on the number of time your exchange rates are updated).

Who is the Oracle Exchange Rate Loader for?

FXLoader can benefit any company using Oracle E-Business Suite or Oracle Cloud Applications (Fusion) that deals in more than one currency.

Within a ledger, any transaction in a currency other than the ledger functional currency is considered a foreign currency transaction. These could be payables or receivables invoices, purchase orders, journals, payments, receipts or any monetary transaction. Such foreign currency transactions require an exchange rate to convert them into the ledger functional currency. So, it would be useful to have all exchanges rates kept up to date automatically in the background, which is where FXLoader can help.

In addition, companies using multiple ledgers often need to translate each ledger to their global reporting currency, which also requires exchange rates between those currencies.

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