FXLoader Cloud Service fully automates the load of FX rates into your Oracle Transportation Management (OTM) application, for converting foreign currency transactions.
FXLoader Cloud Service is a back end application running on Oracle’s Platform as a Service (PaaS). A web service is invoked to pull the latest rates from the chosen source, process cross rates and load them via another web service into OTM.
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.
OTM provides multi-currency functionality. The application uses exchange rates when calculating cost. The rates stored in OTM for a particular day will be used as the default. FX rates entered or loaded are associated with a Domain.
OTM provides a screen to manually enter currency rates, but 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 for that date
If rates are entered incorrectly, your currency conversions will be wrong but the problem may not become evident until weeks or months later.
FXLoader provides a fully automated interface to load rates from leading sources, directly into your Oracle Transportation Management application, identified by the URL and username and domain. 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 OTM.
Rates are loaded as the final step, using the OTM-provided GLOG web service.