FXLoader Cloud Service to load FX rates into ERP Applications

ERP applications with multi-currency features require currency exchange rates to be entered or loaded into the application. These are often daily rates for transaction conversion and period end/period average for accounting functions such as revaluation and translation.

Often a screen or spreadsheet loader is made available within the application, but an unattended load requires use of web services.

The FXLoader Solution

FXLoader Cloud Service provides a fully automated interface to load rates from leading sources into ERP applications. Set it up to run on a schedule you choose and it will load rates in the background – no user action or checking is required.

FXLoader Cloud Service is a separate cloud application, built on Oracle’s Platform as a Service (PaaS). Configuration is set up in this application; a scheduled process then gets rates from your chosen source(s) and loads them into your ERP Application.
Rates are loaded as the final step, using the supported web services.

FXLoader Cloud Service Architecture

Demo – Configure in under 3 minutes

We have made FXLoader Cloud Service as quick and simple as possible to configure. There are plenty of options to cover how you prefer to load rates (sources, currencies, dates, etc.) but as long as you know what you need it can be set up and running in 10 minutes.

This is our key goal. Currency rates are a small part of any application implementation and we believe they should just ‘be there’ – always available, always accurate. So we have worked hard to allow you to set it up very quickly, allowing you to move on to more complex areas of your application.

We provide configuration pages on our cloud platform (Oracle PaaS) which you can use yourselves, or we can configure for you. Most often, the initial set up is done together. The demo below shows the steps and how this can be done in under 3 minutes.

Rates Data Source

FXLoader loads rates from OANDA, Xignite, Reuters, the European Central Bank (ECB) and UK HMRC (UK tax authority). You can choose which source to use, or even use more than one to load into different rate types for use in different parts of your organization.

OANDA is a market maker and a trusted source for currency data. Rates are obtained using their Exchange Rates subscription service which provides full support and extremely high availability. Market rates are available between almost all tradable currencies – 170+. We are OANDA partners and can provide their service bundled with FXLoader.

Xignite are a pure cloud provider of market data. Their Market Data Cloud sits on an enterprise-class delivery platform. The currency rates subscription service provides market rates between 170+ currencies. They also publish rates from central banks around the world; Australia, Brazil, Bulgaria, Canada, Chile, China, Czech, Hungary, Mexico, Poland, Romania, Russia and Uruguay. FXLoader are Xignite partners, enabling us to provide their service with FXLoader.

The Reuters DSS service provides web service access to Reuters currency rates data. You will need to sign up to this service directly with Reuters.

The ECB provide a free exchange rates service between the Euro and around 33 major currencies. The service is also reliable and provides the official central bank rates required for some reporting for companies based in the Eurozone.

The UK HMRC (tax authority) publishes free monthly rates, with weekly updates, from GBP to many major currencies. These are official rates for certain types of reporting in the UK, including VAT reporting.

ERP Applications

FXLoader Cloud Service supports loading currency rates into:

: Oracle Fusion Cloud Applications (ERP Cloud and Sales Cloud)

: JD Edwards Enterprise One

: Workday

Additional integrations coming soon – please contact us for release dates:

: Peoplesoft

: SAP

: Salesforce/Financialforce

Key Features of FXLoader Cloud Service
Built on Oracle’s robust and reliable Platform as a Service cloud platform
Integration with rates providers and ERP Applications via fully supported web services
Market and Central Bank rates are available
Optional built-in triangulation to derive cross rates
Use the most trusted rates sources
Ability to populate legacy currency codes from current currencies, e.g. MXP from MXN
Robust failure handling including automatic re-tries
Set up email notifications for all runs, or on an exception basis
Choose any frequency and timing of run, to load into any date or range of dates
Choose Bid, Ask or Mid-point rates and flexible rounding options
Daily Rates available, plus Period End, Period Average, QTD Average and YTD Average