Automate your FX Rates Load from Oracle ERP Cloud to ARCS – in just 10 Minutes

Automate your FX Rates Load from Oracle ERP Cloud
to ARCS in just 10 Minutes

Introduction to FX Rates

Foreign Exchange/FX rates are a critical part for ARCS and other EPM applications of any international organization that manages data in multiple currencies. Unfortunately, automating this process is not an easy task – UNTIL NOW! With ICE Cloud, you can automate the Currency rate integrations between Oracle ERP Cloud and any of your Oracle EPM Cloud/On-Premise applications within 10 minutes – and with ICE Cloud’s Community Edition there are no monthly costs involved!

We are going to start with a quick overview of how Exchange Rates are usually managed by organizations. Click here if you want to skip this part and read how you can automate the load of FX rates to ARCS in 10 minutes right now.

How do most organizations manage Exchange Rates?

Typically organizations maintain Exchange rates in their ERP application. Daily conversion rates of currencies from all around the world are sourced using services like Bloomberg, Oanda and Reuters. These rates are used to provide Average (AVG) and End of Month (EOM) rates for EPM applications.

How to extract Currency rates from Oracle ERP On-Premise vs. ERP Cloud?

With on-premise ERP systems like Oracle E-Business Suite it was quite simple to extract these rates for EPM applications. Unfortunately, this is more challenging for customers who migrated to Oracle ERP Cloud. GL balances on the one hand can be extracted easily from the GL Balances cube in ERP Cloud. For extracting Currency rates, on the other hand, there isn’t an easy way to extract them from Oracle ERP Cloud to load them to Oracle EPM applications.

How do most EPM administrators load FX rates?

The short answer is: manually, every month, to multiple applications which require different load formats.

What if there was A VERY EASY WAY
to automate your exchange rates load
in just 10 minutes?

Well, there is!

Learn More

Free

Here is some more information:

Within 10 minutes any EPM administrator can create a process to load exchange rates from Oracle ERP Cloud
Just follow our simple “7-Step Guide for loading FX rates from Oracle ERP Cloud to any Oracle EPM application” (note, this is also supported for Anaplan, Planful, OneStream and Adaptive Insights)

What do I need to get started?

There are 4 things:

Access to your Oracle ERP Cloud
Access to your Oracle EPM application(s)
Subscription to the Community Edition of ICE Cloud – available without any monthly cost for loading Currency rates to EPM applications
10 minutes to follow the simple steps in our “7-Step Guide for loading FX rates from Oracle ERP Cloud to Oracle EPM applications”

This is faster than getting coffee!

Let's get started!

Get Community Edition

Free

FAQs

What is ICE Cloud?

ICE Cloud is a powerful integration and automation platform, built for EPM teams. It allows to build sophisticated integration and automation processes without writing any code. In addition it reduces maintenance and support efforts and provides out of the box audit reports. Learn more

What is ICE Cloud’s Community Edition?

The Community Edition of ICE Cloud allows Oracle EPM Cloud customers to automate the integration of currency rates from Oracle ERP Cloud (as well as any other source system) to Oracle EPM applications like Planning and Budgeting (PBCS), Financial Close and Consolidation (FCCS) and Account Reconciliations (ARCS) – without any monthly subscription fees.

What does the Community Edition of ICE Cloud cost?

It is FREE of charge for loading FX rates to as many EPM applications as you would like.

How long does it take to automate an FX rates load?

10 minutes after you take care of the prerequisites described above (item 1-3)

How do I launch my FX rates load using ICE Cloud?

You literally just have to click ONE button. Once the rates have been loaded by ICE Cloud, you will receive an email. This just takes a few seconds.

Tell me about FinTech Innovations

We are a group of EPM consultants and software developers with over 15 years experience with Oracle EPM applications. Our focus is data integration and process automation for Planning and Budgeting (PBCS/EPBCS), Financial Close and Consolidation (FCCS) and Account Reconciliations (ARCS). We have provided consulting services for companies like Salesforce.com, Square, J2 Global, InvenSense, California Water Services, Verifone, 10x Genomics and many more. You might have worked with us directly or as a subject matter expert for Big 4 companies and Oracle Consulting.