FXLoader in 2020

 

There’s been a lot of analysis of 2020, the strangest of years. We thought it might be useful to leave out the pandemic (plenty has been said elsewhere) and summarise 2020 for FXLoader.

New Central Bank Sources

Official central bank or government sources of FX rates are an accounting requirement in some countries and a default standard in others. In 2020 we added eleven additional countries at the request of clients, bringing the total to over sixty:

Australia, Belarus, Bosnia, Canada, Colombia, Czech Republic, Kazakhstan, Poland, Russia, Uganda and the United Arab Emirates.

Open Exchange Rates

We also added a new source of market rates, Open Exchange Rates, and have a few clients using their rates.

Ongoing Enhancements

Enhancements are released on average every two weeks. Major improvements in 2020 include custom accounting periods, DST flexibility, push rates to JD Edwards via orchestration and new Reuters Refinitiv functionality.

Statistics

During 2020, Oracle Fusion ERP Cloud overtook Oracle E-Business Suite as our most used ERP for clients to load rates into, reflecting Fusion’s growth in the market in general.

FXLoader loaded over 19 million rates into Oracle ERP Cloud in 2020, a 65% increase over 2019, all of them fully automated of course!

We also opened many more relationships with new clients and partners during 2020. On behalf of the whole team, a big thank you to all clients and partners, new and old; we’ve really enjoy working with you! And special thanks to clients who submitted a review on the Oracle Cloud Marketplace, keeping us as the top-rated application, from over 2,500.

We hope to see as many of you as possible in person this year, once events are allowed again.