Oracle E-Business Suite
FXLoader Cloud Service fully automates the load of FX rates into your E-Business Suite application, for converting foreign currency transactions.
FXLoader Cloud Service is a back end application running on Oracle’s Platform as a Service (PaaS). Web services are invoked to pull the latest rates from the chosen source(s) and process cross rates, etc. Rates are then either pushed into E-Business Suite, or pulled via a scheduled job on the E-Business Suite side.
Choose from some of the most trusted sources of exchange rates; OANDA, XE, Xignite, Open Exchange Rates, Refinitiv, Bloomberg and over 60 Central Banks, including The European Central Bank. The subscription to some of these services can be included in your annual FXLoader subscription.
FXLoader for Oracle E-Business Suite demo
Currency Rates in E-Business Suite
E-Business Suite provides extensive multi-currency functionality. It converts all transactions in foreign currency to your functional currency using a defined exchange rate – supplier and customer invoices and payments, GL journals, purchase orders, sales orders, etc.
The Challenge
The application provides a screen to manually enter daily rates, but using this can be time consuming and prone to error as with any manual process. The impact on the business can be significant:
If rates are not entered, foreign currency transactions will use inaccurate rates, or cannot be processed at all for that date
If rates are entered incorrectly, your account balances will be wrong but the problem may not become evident until weeks or months later.
The FXLoader Solution
FXLoader provides a fully automated interface to load rates from leading sources, directly into E-Business Suite. 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 job then gets rates from your chosen source(s), processes them according to your chosen options, and either pushes them to EBS, or saves them to be pulled via an EBS concurrent request.
The push option requires installing a REST service within the E-Business Suite Integrated SOA Gateway, which is a standard module of EBS. The requires at least release 12.2.4 of EBS. We provide the REST service and instructions to install.
Alternatively, the pull option saves the rates on the FXLoader Cloud Service in the EBS format, then a scheduled concurrent request in EBS calls a REST service to pull the rates into the daily rates table. We provide the REST service and the concurrent program, with install instructions.
Both options are provided in full by FXLoader as part of your subscription, no development is needed. Both options use the Oracle-supported open interface to load the rates.