Axdata Currency Import makes it possible and easy to import exchange rates from Norges Bank to Dynamics 365 Finance. Norges Bank lists around 40 exchange rates and covers the needs of most companies. Registering exchange rates is for most people today manual work that takes time and is associated with a certain risk of human error when it is transferred to Dynamics 365 Finance. With Axdata Currency Import you don’t have to manual work, with a few keystrokes you can easily get all currencies updated in the application.
Axdata Currency Import is an integration that we easily set up via LifeCycle Services for your Dynamics 365 and is built against the standard Microsoft framework in Dynamics 365 Finance. By using this ready-made solution, the company can avoid much of the manual work involved in updating the exchange rates in the application.
Norges Bank notes about 40 exchange rates that are updated daily, which results in a large amount of information that must be entered into Dynamics 365 Finance. When this is done manually, the risk of misinformation increases, which can be detrimental to the company’s finances or create dissatisfaction among customers.
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By using Axdata Currency Import, the company reduces the risk of just this, by gaining access to updated exchange rates according to their needs. In an online review, a financial consultant will configure the integration with you and you choose, among other things, when you want to import exchange rates from Norges Bank, whether it should be daily, weekly, monthly, quarterly or annually.
- * Applies per instance. Installation and initial setup are additional
Exchange rates are important information for all companies that trade or have finances across national borders. If the company buys from abroad and / or sells products and services abroad, exchange rates can have a major effect on the result. For the company’s finance department, it will therefore be important to have access to the correct exchange ratio between exchange rates, in order to optimize the regulation of capital at a global level.
All companies trading abroad will have certain risks that arise as a result of fluctuations in the exchange rate. If you have customers abroad who want to be invoiced in your own currency, it is important to have access to these in systems such as Dynamics 365 Finance. Through a better overview of current exchange rates, companies will be able to minimize the risk that comes through trading in foreign currency, and ensure that they operate with updated exchange rates from Norges Bank.