Virtual Report Suites To Support Different Currencies

[#1]

From a technical point of view this is not difficult. You already have currency conversion in place for each report suite - being able to change this is key for our needs. All you need is a daily scrape of currencies from a supplier like XE. This would allow our UK team to see £, our FR team to see € and the US team to report in $. Currently we are using secondary server calls but this is not a viable long term solution.

[#2]

Hi David, the tricky part there is that the currency conversion rate changes every day - keeping track of the historical conversion rates and applying them properly each day isn't as trivial as it sounds!

[#3]

To get around this, a number of customers have leveraged APIs at runtime to capture the real time conversion rate, then push that conversion rate at time of purchase into a numeric event (for each currency).

I've personally tested this using Open Exchange Rates to great success.

[#4]

Hi Eric,

Thanks for getting back to me - this sounds like a great hack!

Thanks

Dave

[#5]

Seems a duplicate of Add converted currency metrics that dynamically update the conversion rate

[#6]

Hi All,

This problem has continued on for us, however we have finally managed to get a really good workaround for it!

Firstly we are using Tealium and as such, can do it out of the box (powered by Open Exchange Rates ) however, the same can be done with launch using an API pull.

When an order is placed (and only when an order is placed), we fire several events that uses the current exchange rate:

For example

EUR to GBP (E301) = 0.9

EUR to USD (E302) = 1.11

As we only need the 7 European currencies and USD this solution works well for us.

Then the following calculated metric converts the revenue into a useable metric.

It's not perfect because in the following because a uneven distribution of orders and exchange rate create the following when the view is changed from Daily to total:

	Orders	e301	Revenue (EUR)	Exchange Rate EUR to GBP
Day 1	4201	3354.26	878192.49	791000.52
Day 2	6057	4951.69	1154670.95	1039369.68
Day 3	5460	4502.75	1038012.56	934221.68
Day 4	5398	4393.11	1064126.41	957759.55
Total	21116	17201.8	4135002.41	3722351.43
Total
Totals
	Orders	e301	Revenue (EUR)	Exchange Rate EUR to GBP
Total	21116	17201.8	4135002.41	3722304.98
Difference	0.001%

Hope this helps someone as much as it has us.

Dave