Your achievements

Level 1

0% to

Level 2

Tip /
Sign in

Sign in to Community

to gain points, level up, and earn exciting badges like the new
Bedrock Mission!

Learn more

View all

Sign in to view all badges

Virtual Report Suites To Support Different Currencies

Avatar

Avatar
Originator
Level 7
David-123
Level 7

Likes

133 likes

Total Posts

147 posts

Correct reply

20 solutions
Top badges earned
Originator
Contributor 2
Ignite 20
Give Back 50
Ignite 10
View profile

Avatar
Originator
Level 7
David-123
Level 7

Likes

133 likes

Total Posts

147 posts

Correct reply

20 solutions
Top badges earned
Originator
Contributor 2
Ignite 20
Give Back 50
Ignite 10
View profile
David-123
Level 7

23-05-2018

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.

6 Comments

Avatar

Avatar
Give Back 5
Employee
trevorpaulsen
Employee

Likes

0 likes

Total Posts

43 posts

Correct reply

0 solutions
Top badges earned
Give Back 5
Give Back 3
Give Back
Ignite 1
View profile

Avatar
Give Back 5
Employee
trevorpaulsen
Employee

Likes

0 likes

Total Posts

43 posts

Correct reply

0 solutions
Top badges earned
Give Back 5
Give Back 3
Give Back
Ignite 1
View profile
trevorpaulsen
Employee

23-05-2018

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!

Avatar

Avatar
Establish
Employee
ericmatisoff
Employee

Likes

155 likes

Total Posts

281 posts

Correct reply

79 solutions
Top badges earned
Establish
Give Back 200
Give Back 100
Give Back 50
Coach
View profile

Avatar
Establish
Employee
ericmatisoff
Employee

Likes

155 likes

Total Posts

281 posts

Correct reply

79 solutions
Top badges earned
Establish
Give Back 200
Give Back 100
Give Back 50
Coach
View profile
ericmatisoff
Employee

25-05-2018

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.

Avatar

Avatar
Originator
Level 7
David-123
Level 7

Likes

133 likes

Total Posts

147 posts

Correct reply

20 solutions
Top badges earned
Originator
Contributor 2
Ignite 20
Give Back 50
Ignite 10
View profile

Avatar
Originator
Level 7
David-123
Level 7

Likes

133 likes

Total Posts

147 posts

Correct reply

20 solutions
Top badges earned
Originator
Contributor 2
Ignite 20
Give Back 50
Ignite 10
View profile
David-123
Level 7

29-05-2018

Hi Eric,

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

Thanks

Dave

Avatar

Avatar
Ignite 3
Community Advisor
Jennifer_Kunz
Community Advisor

Likes

319 likes

Total Posts

86 posts

Correct reply

0 solutions
Top badges earned
Ignite 3
Give Back 10
Validate 1
Contributor
Seeker
View profile

Avatar
Ignite 3
Community Advisor
Jennifer_Kunz
Community Advisor

Likes

319 likes

Total Posts

86 posts

Correct reply

0 solutions
Top badges earned
Ignite 3
Give Back 10
Validate 1
Contributor
Seeker
View profile
Jennifer_Kunz
Community Advisor

03-08-2018

Avatar

Avatar
Originator
Level 7
David-123
Level 7

Likes

133 likes

Total Posts

147 posts

Correct reply

20 solutions
Top badges earned
Originator
Contributor 2
Ignite 20
Give Back 50
Ignite 10
View profile

Avatar
Originator
Level 7
David-123
Level 7

Likes

133 likes

Total Posts

147 posts

Correct reply

20 solutions
Top badges earned
Originator
Contributor 2
Ignite 20
Give Back 50
Ignite 10
View profile
David-123
Level 7

05-09-2019

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.

1827769_pastedImage_2.png

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:

   

Orderse301Revenue (EUR)Exchange Rate EUR to GBP
Day 142013354.26878192.49791000.52
Day 260574951.691154670.951039369.68
Day 354604502.751038012.56934221.68
Day 453984393.111064126.41957759.55
Total2111617201.84135002.413722351.43
Total
Totals

Orderse301Revenue (EUR)Exchange Rate EUR to GBP
Total2111617201.84135002.413722304.98
Difference0.001%

Hope this helps someone as much as it has us.

Dave

Avatar

Avatar
Give Back 1000
Level 10
jantzen_belliston-Adobe
Level 10

Likes

359 likes

Total Posts

2,372 posts

Correct reply

823 solutions
Top badges earned
Give Back 1000
Give back 900
Give Back 800
Give Back 700
Give back 600
View profile

Avatar
Give Back 1000
Level 10
jantzen_belliston-Adobe
Level 10

Likes

359 likes

Total Posts

2,372 posts

Correct reply

823 solutions
Top badges earned
Give Back 1000
Give back 900
Give Back 800
Give Back 700
Give back 600
View profile
jantzen_belliston-Adobe
Level 10

27-10-2020

 
Status changed to: Archived