Care I.T.

Services

ORACLE E-BUSINESS SUITE EXCHANGE RATES LOAD

This summary describes the Oracle E-Business Suite Exchange Rates Load product, which is an end-to-end solution to automatically load daily exchange rates into Oracle General Ledger.

Overview
Any organisation using Oracle E-Business Suite with more than one currency needs to enter daily exchange rates. The solution provided with Oracle General Ledger is to enter rates manually each day, but this can be both time consuming and error prone. Care I.T. Services has teamed up with OANDA, the web-based global leader in currency conversion, to produce an automated interface for exchange rates. This product is a bolt on extension to Oracle General Ledger and provides the following key features: A seamless end-to-end process that handles communication with OANDA, validation and loading into Oracle General Ledger Exchange rates are queried in real time from OANDA via an http request, using their FXCSV/FXML tools Rates are loaded between all currencies you have enabled True bid or ask rates are available, including an option to ensure triangulation The interface can be scheduled to run early each morning Should a failure occur, the process can re-submit itself or send an e-mail alert Optional extensions allow you to calculate period rates and publish rates to a web page, so that the rest of your organisation can benefit from official currency exchange rates For further information, please contact: Peter Care Tel: +44 (0)7961 194669 E-mail: peter@careitservices.com Web: www.careitservices.com Or visit the link on the OANDA website www.oanda.com

ORACLE E-BUSINESS SUITE EXCHANGE RATES LOAD

PAGE 1 OF 4

Care I.T. Services

Benefits
Daily exchange rates are entered into Oracle General Ledger and then used by all other Oracle Applications modules. Any transaction in a currency other than your functional currency requires an exchange rate for the date of the transaction. Examples include supplier invoices and payments, customer invoices and receipts, purchase orders and sales orders. Oracle General Ledger is supplied with a screen to enter these currencies manually. However, as rates must be entered daily, this can become very time consuming, even when a relatively small number of currencies are required. In addition, as with any manual process, mistakes occur which can have a major impact on your business: If rates are not entered on a particular day, then foreign currency transactions cannot be entered for that day. If a rate is entered incorrectly, the impact may not be noticed for weeks. For example, if a rate is entered the wrong way round the impact on your GL balances at month end will be significant. The Oracle E-Business Suite Exchange Rates Load loads all the rates you need, without any intervention or checking required. With OANDA as the source, you can be sure the rates are accurate and timely. Should the load fail on a particular day, for example if the link to OANDA is not available, the process will re-run itself. An e-mail alert can be sent if the process fails after a specified number of attempts.

ORACLE E-BUSINESS SUITE EXCHANGE RATES LOAD

PAGE 2 OF 4

Care I.T. Services

Production Description

Oracle General Ledger

Daily Exchange Rates for all enabled

Oracle EBusiness Suite Exchange Rates Load

http request

OANDA web site

FXCSV output

The product is implemented as a concurrent program, run through the Oracle EBusiness Suite concurrent manager. The daily scheduling is managed by the concurrent manager, but the load can also be run manually for a specific date if required. A number of options are available for the load, each implemented as a parameter with a default: Choose whether to use ask or bid market rates, both of which are provided by OANDA. Choose whether you want your rates to triangulate from a specified base currency. For example, if you want to triangulate from USD, then rates are loaded between USD and all enabled currencies and rates between non-USD currencies are calculated from these. Alternatively, you may want to load market rates for all currencies from OANDA, which will not triangulate. Choose the number of times the program should re-try in the event of an error and an e-mail address to be alerted if the program fails after the specified number of attempts. The concurrent program is implemented as a stored procedure and rates are queried from OANDA using an http request direct from the database. Thus, all processing is contained within the Oracle E-Business Suite database there is no dependence on the operating system or other components outside the database. There are two optional extensions to the product that can be implemented along with the daily rates load: Calculate Period Rates from Daily Rates Period rates can also be entered manually in Oracle General Ledger, to provide period average and period end rates for use with various Oracle General Ledger functions, such as revaluation. Unlike daily rates, period rates must be provided

ORACLE E-BUSINESS SUITE EXCHANGE RATES LOAD

PAGE 3 OF 4

Care I.T. Services

for each set of books. Thus, if your organisation uses many sets of books, entering period rates manually can be a significant task each month. The obvious solution is to automatically calculate the period rates from daily rates. Care I.T. Services has developed a single concurrent program that will perform this task across all your sets of books. Publish Rates to a Web Page Using this product, you will have accurate, official exchange rates available within Oracle E-Business Suite. So why not make this data available to the rest of your organisation? This is enabled by an extension to the product that publishes daily or period rates to a web page, that can be integrated as part of your company intranet. The user can enter the currency and date or period the rates will be displayed as a table within the browser. Rates are queried from the database in real time, so will always be up to date.

Purchase Information
The Oracle E-Business Suite Exchange Rates Load requires the purchase of two elements: A subscription to the OANDA FXCSV service The Oracle E-Business Suite Exchange Rates Load product from Care I.T. Services The pricing structure is flexible according to your preferences and the level of support required. For example, the two elements could be combined into a single subscription-based fee or a licence for the Oracle E-Business Suite Exchange Rates Load product can be purchased via a single up-front fee. Care I.T. Services can offer the following services in conjunction with the product: On site installation and testing A brief training session and demonstration Full documentation Ongoing support

ORACLE E-BUSINESS SUITE EXCHANGE RATES LOAD

PAGE 4 OF 4