Partner News

Streamline exchange rates and reference indices automation (interest rates, CPI, and more)

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In today's dynamic business landscape, the importance of automating exchange rates and interest rate updates within your SAP (or ERP) system cannot be overstated. Regrettably, this crucial task often remains underappreciated within many organizations. Delving deeper into the consequences of inaccurately inputting exchange rates in SAP's standard transaction, the ramifications are substantial. Such errors necessitate the painstaking task of cancelling transactional data associated with the erroneous rates, which can also trigger the cancellation of related documents such as compensations and payment cancellations.

This predicament isn't exclusive to exchange rates alone but extends to interest rate updates as well, encompassing rates like Euribor, Libor, Central Bank Interest Rates, and Inflation Indices, among others. Consequently, at CUVIV, we have embarked on a mission to automate these processes, guided by a set of pivotal objectives:

  1. Automating Exchange Rate Uploads in SAP: We streamline the process of uploading exchange rates within your SAP system, ensuring efficiency and accuracy.
  2. Error Elimination through Automation: Our solution significantly reduces errors caused by manual interventions, safeguarding the integrity of your financial data.
  3. Reducing Dependency on Individuals: With our system, you no longer have to rely on specific individuals to handle exchange rate updates, mitigating the risks associated with human error and availability.
  4. Leveraging SAP Standard Customization: We seamlessly integrate with SAP's standard customizing, eliminating the need for complex and costly custom developments.
  5. Cutting Costs on SAP/WS Developments: By connecting to a wide array of official sources, including the European Central Bank, Bank of Mexico, Central Bank of Romania, and over 80 others, we eliminate the costs associated with SAP/WS developments by clients.
  6. Real-Time, Reliable Data: Our system ensures real-time and highly reliable data within your SAP system, enhancing decision-making processes.
  7. Minimal Investment, Rapid ROI: We offer a product that demands minimal initial investment while quickly justifying its return on investment through enhanced efficiency and accuracy.

As a testament to these objectives, CUVIV has developed a cutting-edge product. Our solution automatically connects to more than 80 international official sources of exchange rate information, securely downloads this data to an AWS database, and seamlessly updates your SAP system (transaction OB08) with the latest rates.

Furthermore, as part of our commitment to transparency and client satisfaction, we provide clients with a detailed log of modifications at the conclusion of the automation process. Additionally, we offer a 30-day trial period with no obligation, allowing you to experience the benefits of our solution firsthand.

In addition to our exchange rate automation solution showcased in the video, we are thrilled to introduce a new feature. This feature enables the effortless retrieval and automation of key interest rates and indices within your SAP system, further enhancing your financial management capabilities.

For more information or to request a personalized demo of our product, please do not hesitate to reach out to us at [email protected]. At CUVIV, we are dedicated to simplifying and enhancing your currency and interest rate management processes, empowering your organization to thrive in an ever-evolving financial landscape.

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Posted by: CUVIV UK

This post was submitted by CUVIV UK. View all of their news posts here

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