Currency Exchange rate

Our currency exchange rate solution for the nordic markets fetches exchange rates from ECB, Svenska Riksbanken, Norges Bank and Danmarks Nationalbank on a daily basis and saves it into your Dynamics 365 F&O application. It contains a Model Driven Powerapp where all the configuration is done in form of:

Setup of currency pairs
Which exchange rate type in Dynamics 365 F&O where the rates should be stored
Which source to be used for each currency pair
Between which dates should this setup be valid for

Why you should have it?

Enhanced Financial Accuracy:

Dynamics 365 F&O allows for the importation of currency exchange rates from various providers, ensuring that financial transactions are recorded with the most current rates1. This accuracy is vital for maintaining reliable financial statements and supporting business decisions.

Operational Efficiency: Automating the import of exchange rates directly into the ERP system streamlines financial operations. It eliminates the need for manual data entry, reducing the risk of errors and saving valuable time.

Risk Management:

Exchange rate fluctuations can have a significant impact on a company’s financial performance. By integrating real-time rates into Dynamics 365 F&O, businesses can better manage this risk, as the system can automatically adjust to rate changes, helping to protect profit margins and reduce potential losses.

Strategic Decision Support:

Access to up-to-date exchange rates within Dynamics 365 F&O aids in more accurate forecasting and budgeting. Companies can make informed strategic decisions regarding pricing, sourcing, and market expansion with confidence in their financial data.

Compliance and Control:

Dynamics 365 F&O helps ensure compliance with accounting standards and financial regulations by using accurate and current exchange rates for all transactions. This control is essential for audits and financial reporting.

Global Financial Integration:

For businesses operating in multiple countries, Dynamics 365 F&O provides a unified platform where all financial data can be consolidated. This integration is key to achieving a global view of the company’s financial health.

In summary, the integration of currency exchange rates into Dynamics 365 F&O is of great value for global business operations. It ensures financial accuracy, enhances operational efficiency, aids in risk management, supports strategic decision-making, ensures compliance, and facilitates global financial integration.