Automated synchronisation of exchange rates in Infor SunSystemsAutomated synchronisation of exchange rates in Infor SunSystems

Blog updated on 21st May 2024 by Agata Lech

Did you know you can automate updates of the currency exchange rates within SunSystems? If you have previously done this manually, you will recognise that the process is time consuming and prone to errors. Even if you have an upload facility, manually downloading, populating, and uploading exchange rate data, involves a risk of error and creates a cumbersome process involving multiple steps.

Our new API integration for Infor SunSystems addresses these challenges by fully automating the update of daily exchange rates.

SunSystems automatically connects to an online exchange rate provider and downloads rates with zero manual intervention. Automation ensures accuracy and timeliness in financial data, crucial for businesses dealing with multiple currencies across different territories and markets.

How it works

The integration is designed to wake up at a specified time each day to retrieve the new rates which are published at midnight by the online provider. The system identifies the base currency for each business unit, automatically updates corresponding rates, and can also handle reverse conversions. The flexibility to adapt to multiple currencies and business units without manual input creates a substantial advantage, ensuring accuracy and enhancing efficiency.

Key features and benefits

• Automates the process of exchange rate updates, eliminating manual data entry and the potential for human error.
• Ensures that all financial transactions use up to date and accurate rates.
• Meets the specific needs of different business units with different base currencies, handling multiple currencies and converting them as required.
• In case of any issues, such as failure to connect to the online provider, the system is designed to alert nominated personnel via email, ensuring prompt resolution and continuous operation.

By implementing this automated synchronisation of exchange rates in Infor SunSystems you are supporting your financial operations through enhanced accuracy and efficiency, which are crucial for businesses operating in today's dynamic global marketplace.

You are also digitising what were previously manual processes to maximise reliability, allowing your team to focus more on growth and less on administrative burdens.

Take the next step

To find out more, please download one of our guides to SunSystems Cloud or contact your Customer Success Manager who will be delighted to help.

by Agata Lech

Blog contributor