Exchange rates up to date and under control
All for One EasyExchangeRates: Currency rates in SAP from multiple sources
In an international environment, access to up-to-date exchange rates is the first step to reliable financial data. In many companies, updating exchange rates is still done manually or semi-automatically, creating the risk of errors. This process can be completely automated and secured with All for One EasyExchangeRates. In its latest version, the solution integrates with SAP ECC, S/4HANA on-premise, S/4HANA Cloud Private and S/4HANA Cloud Public Edition, providing data from the NBP, ECB and key foreign banks and exchange rate providers.
In an international environment, access to up-to-date exchange rates is the first step to reliable financial data. In many companies, updating exchange rates is still done manually or semi-automatically, creating the risk of errors. This process can be completely automated and secured with All for One EasyExchangeRates. In its latest version, the solution integrates with SAP ECC, S/4HANA on-premise, S/4HANA Cloud Private and S/4HANA Cloud Public Edition, providing data from the NBP, ECB and key foreign banks and exchange rate providers.
Exchange rate challenges in SAP
While manually updating exchange rates in SAP is a seemingly routine and repetitive task, in practice it affects a company’s vital financial operations, such as billing, reporting and accounting. The larger the scale of a company’s operations, especially in an international context, the greater the complexity and sensitivity of the process.
The level of difficulty increases with the number of sources (different banks and currency services), the variety of file formats and sources that need to be processed before importing into the system, and the need to perform additional operations specific to the organization (e.g., the need to convert reverse rates or change dates).
As a result, manually updating exchange rates in SAP becomes a complex process, hugely susceptible to errors related to both the rate import itself (e.g., skipping an update, using the wrong file) and the lack of automatic validation, leading to errors being detected only at an advanced accounting or auditing stage.
All for One EasyExchangeRates automates the import of exchange rates in SAP
All for One EasyExchangeRates, an SAP extension, allows you to fully automate the updating of exchange rates in your system, reducing manual work and the risk of errors. The solution is particularly well suited for companies operating internationally, where up-to-date and reliable exchange rates from multiple sources are crucial.
Solution functionalities
Installation and configuration of All for One EasyExchangeRates take place with the support of All for One consultants, so that the tool is tailored to the organization’s needs. Once up and running, the solution is ready to go. Launching additional exchange rate sources at a later date can be supported by All for One or done by the enterprise’s SAP users. The solution provides a user-friendly interface for configuring and testing new exchange rate data providers.
Once you specify the scope and frequency of updates, the solution automatically downloads and saves the correct rates in SAP. SAP always uses up-to-date and error-free currency data, saving staff time and eliminating the risk of errors.
All for One EasyExchangeRates includes ready-made pre-configured scenarios for the most popular banks and currency services. Adding new rate data providers is well described in user documentation available online.
The solution is an off-the-shelf extension to the SAP standard, which, once imported into the system and basic configuration performed, can be used immediately by users. Software updates are available as part of the maintenance service.
Key benefits
All for One EasyExchangeRates automatically retrieves current exchange rates from banks and currency services and saves them in SAP. The process runs in the background as a scheduled task, and sends e-mail notifications in case of errors, enabling a quick response.
In the new version, the product offers ready integrations with ECB, NBP and key foreign banks and services. Operation in S/4HANA systems is carried out using the SAP Fiori application. Setup is very fast and includes testing and scheduling of automatic processing.
All for One EasyExchangeRates provides automatic and regular updates in SAP without the need for additional software (such as SAP Market Rates Management) or additional services (such as Refinitiv).
The solution provides ongoing notifications of errors related to the downloading of exchange rates (e.g. unavailability of the system providing the data) and their recording in the SAP system (e.g. configuration changes). Each process of importing exchange rates is recorded in detailed logs, which increases transparency and security of operations.
In addition, there is a KPI tile in SAP Fiori that shows the number of failed exchange rate updates over the past seven days. This makes it easier to constantly monitor the process, quickly identify problems and check the accuracy of data in SAP.
At All for One, we create customized solutions for our customers. All for One EasyExchangeRates has so far integrated only with the National Bank of Poland and the Central Bank of Europe. The new version, prepared using a clean core approach, enables connection with almost any exchange rate data provider, makes the modern SAP Fiori interface available on S/4HANA systems, adds the convenient ability to test new data sources, and provides an even higher level of security. This is one of many products being developed by All for One also for the latest version of SAP's Cloud Public Edition.
All for One EasyExchangeRates in new design
All for One EasyExchangeRates is already used by more than 50+ customers. The new version of the solution is ready to work across SAP versions, providing data from multiple sources. All for One EasyExchangeRates takes a rate file published on a bank’s or other vendor’s website and writes selected data to the SAP system’s rate table. The solution integrates with SAP ECC/ERP, S/4HANA Cloud Private; S/4HANA Cloud Public and S/4HANA on-premise. It has ready-made configurations for retrieving exchange rates from the European Central Bank, the National Bank of Poland, and providers from many countries and currency services (including XE, England, Czech Republic, Denmark, Norway, Romania, Switzerland, Sweden, Hungary), and new ones can be added in minutes.
