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It is critical to understand how the exchange rates are applied and how to input them into your ERP system to ensure accurate values are being presented since deviations in exchange rates can create substantial variances. One of primary challenge organizations face is the fluctuating currency market, which makes budgeting for international exchanges near to impossible. Many companies are able to pre-book exchange rates with banks for a specified period of time; however, other companies do not have this luxury and must account for the daily fluctuations in exchange rates.
By integrating SAP Business One with a central bank such as Suisse Bank or Bank of Canada, your system will be updated with the closing exchange rates for the previous day, and every day.
Custom Integration Scenarios also available – Please give us a call.