Salesforce | FXLoader
1998
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Salesforce

Integration with Salesforce

FXLoader Cloud Service fully automates the load of FX rates into your Salesforce cloud 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 Salesforce.

Choose from some of the most trusted sources of exchange rates; OANDA, Xignite, Reuters, XE and 40+ Central Banks, including The European Central Bank. The subscription to these services is included in your annual FXLoader Cloud Service subscription.

Currency Rates in Salesforce

Salesforce provides multi-currency functionality in two ways. Basic Currency Management allows a single rate against each currency, Advanced Currency Management allows dated rates to be stored against each currency. You need to switch on Advanced Currency Management in order to use dated rates.

Salesforce will convert foreign currency figures, for example for opportunities, to your organisation’s base reporting currency. This is done using exchange rates entered or loaded into Salesforce.

The Challenge

Salesforce 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 or are incorrect, reporting of foreign currency figures will use inaccurate or out-dated rates.

The FXLoader Solution

FXLoader provides a fully automated interface to load rates from leading sources, directly into your Salesforce application, identified by the URL and username. 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 Salesforce.

Rates are loaded as the final step, using the Salesforce-provided web service. You can choose to update rates in the Basic currency table, or create updated rates in the Advanced Currency Management table (dated rates), or both.

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