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Currency rate automation ensures that SAP Group Reporting always uses current, accurate exchange rates when consolidating foreign subsidiaries. Instead of manually collecting and entering exchange rates, they are automatically imported from external sources such as the ECB or a market data provider. This prevents delays and errors in the consolidation process, especially when dealing with a large number of currencies and entities.
Currency Rate Automation is a feature within SAP Group Reporting that automatically retrieves and processes current exchange rates for currency conversion during consolidation.
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Automatic import of daily, monthly, and average prices from external sources
Direct processing of currency conversions by general ledger account and entity
Detection of missing or anomalous prices prior to the consolidation process
Technology is the foundation; the right experts deliver the real benefits.
A specialist understands the differences between ECB, market, and internal exchange rates and determines, for each country and general ledger account, which source provides the most reliable result.
Whereas a system simply processes an unusual price, an experienced consultant recognizes when an outlier indicates an error and takes action before the data is consolidated.
The expert sets up exceptions and alternative sources in such a way that the consolidation team never has to wait, and also knows immediately how to resolve a missing price.
