Currency Analytics

Data Integrity

Global Finance and Treasury Teams rely on FiREapps’ market leading Currency Analytics™ to analyze and manage currency impact at the scale and pace of their multinational operations.

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Currency Analytics: Data Integrity
Implementing proper processes and controls to ensure that all of the facets of multi-currency accounting are conducted appropriately is challenging enough, ensuring on-going compliance is even harder. Although ERP and Consolidation systems contain bits and pieces of the data required by Finance and Accounting departments to deal with these challenges, the ability to develop an aggregated, concise and accurate picture remains elusive. FiREapps’ powerful web-based Currency Analytics for Data Integrity provide you with the tools to analyze your data and examine whether or not multi-currency accounting transactions are recorded and relieved on a timely and accurate basis, FX gains and losses are calculated and recorded properly, and ensure that variances are easily identified and explained.
quote_tallWe give Finance [across the world] access to the hedge recommendations and the underlying data in FiREapps. They either check a box to tell us that they are okay with the data, or, if they spot an incorrect accounting entry from their general ledger, they let us know so that we can make the necessary adjustments to our hedge recommendations.”Avnet
FiREapps Data Integrity analytics for Multi-Currency Accounting are designed to aid in the uncovering of posting and control issues and the identification of the root cause of FX impacts within ERP systems

Re-measurement Environment Validation Analysis

Provides monitoring and control through reports and analysis of the specific accounting balances that are being included and excluded from ERP specific re-measurement processes and FX exposure definition processes to help ensure alignment between accounting, local business units and treasury

Period-over-Period Multi-Currency Accounting Balance Variance Analysis

Provides quick and easy comparison of changes to accounting balances; and the ability to identify specific account balances with unexpectedly large period-over-period changes that could indicate improper account postings

Transaction Currency-Local Currency Integrity Analytics

Enable quick identification of potential posting issues within ERP general ledgers such as phantom exposures, legacy currencies, and un-reconciled transaction currency-local currency imbalances

Intercompany Transaction Integrity Analytics

Provides a suite of exception reports that identify potential problems within intercompany transaction postings such un-reconciled differences in reporting, local and transaction currency balances and missing intercompany offsets.

FX Gain/Loss Analytics

Provides quick insight into the sources of FX gain/loss within the general ledger to enable rapid triage of un-expected results