Hologic Inc | FXLoader
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Hologic Inc

Industry

Medical Products

Products

Oracle E-Business Suite 12.1.3
FXLoader release 5.55

Challenge

To automate loading of 500+ currency pairs daily.

Solution

Implement the FXLoader product suite: Daily Rates Load, Period Average Load, Daily Rates Report and Rates Web Page

Results

  • 100% automated availability of latest exchange rates
  • Trusted authentic source of market FX rates
  • Report and screenbased inquiry access to rates, across the organization
  • Quick and simple installation and testing

Customer Case Study

Hologic, Inc. uses FXLoader for Oracle E-Business Suite to automate access to latest currency exchange rates.

Hologic is a $2.5bn leading healthcare and diagnostics company, with a global network of customers and offices. Hologic’s ethos, The Science of Sure, is inspired by possibility, maximized by technology and reinforced by relentless determination.

“FXLoader has been a tremendous addition to our Oracle ERP configuration.”

Kevin Brownlie, Sr. Director, Business Apps/Tech, Hologic.

Business Challenge

The overwhelming and resource intensive task of maintaining FX rates for 35+ currencies prompted Hologic to search for an automated solution for currency exchange rates – both daily and period average rates. The most important requirements were accuracy of rates and timeliness of their availability.

Why FXLoader?

Rates Source

Hologic chose Xignite who provide authentic market rates for all tradeable currencies. FXLoader also offer a range of alternative sources for market and central bank rates.

Automation

100% automation is provided. FXLoader populates rates between all enabled currencies overnight, so all rates are available when they are needed. The average calculation is run at month end to facilitate translation of subsidiary ledgers.

Simplicity

The process is simple and robust, tightly integrated into E-Business Suite using Oracle supported APIs. Installation is quick, easy and automated.

Reporting

Hologic also chose the FXLoader reporting add-ons, Daily Rates Report and Rates Web Page, to provide access to the rates across the organization.

“It runs seamlessly each night loading 500 + currency pairs. This replaces work that was done manually by our Corporate Accounting team who are now freed up for other, more value added activities… Having this in place ensures our global install of Oracle never misses a beat and we keep our various foreign subs from having any issues or downtime due to missing rates… Very happy with the stability and efficiency of FXLoader! After talking to our finance team the feeling on FXLoader is ‘It just works’.”

Kevin Brownlie, Sr. Director, Business Apps/Tech, Hologic.