For financial reporting requirements, one of our clients has to continuously keep track of exchange rates for international currencies in its SAP system. In the past, our client had outsourced this activity to a team in India, keeping track of the international currency exchange rates and updating them manually in SAP for each international currency pair. This was a daily and manual routine, however unfortunately resulting in a lot of errors in entering the data. When errors occurred, this generated a backlash on the financial reporting, requiring a lot of rework and causing reporting delays.
With Automagica, updating these exchange rates becomes a breeze to automate. The Automagica robot visits the website of the European Central Bank, taking note of the most up-to-date market exchange rates for foreign currencies. It then logs into our clients SAP system to automatically maintain the currency exchange rates with the OB08 transaction. If an exchange rate for a particular pair already exists, it is either replaced or skipped.
In the video below, you can see our robot in the SAP sandbox environment for one of our implementation partners:
The robot is started through the Automagica Portal, one of the enterprise features we are offering to our Automagica clients.
Using our Automagica robot, our client was able to fully automate the process of updating foreign currency exchange rates in its SAP system, resulting in a 0% error rate with regards to exchange rates and timely financial reporting.