Thomson Reuters Converts Cross-Border Transaction Prices Into Single Currency

SAPThomson Reuters has announced that it will simplify converting cross-border transaction prices into a single currency, through the new SAP Cloud Platform-based solution. There will be no limit to where or when the transaction happens.
The solution, called SAP Market Rates Management, is an out-of-the-box connectivity to comprehensive pricing and reference data that integrates foreign exchange and money market data from Thomson Reuters for more accurate pricing of any global transaction across the SAP Cloud Platform.
Stuart Martin, Thomson Reuters managing director of Risk Information and Learning Services
Stuart Martin, Thomson Reuters managing director of Risk Information and Learning Services

From now on, chief financial officers, treasurers, and corporate finance teams will enjoy easier access to pricing and reference data and will be able to calculate foreign exchange transactions more accurately. The new solution may lower onboarding costs by reducing the need to integrate multiple solutions and minimize operational risks.

Stuart Martin, Thomson Reuters managing director of Risk Information and Learning Services, said: “At the press of a button, any of SAP’s global customers can now achieve straight-through processing of foreign exchange calculations, simplifying their operations and assisting in reducing risk through a single source of comprehensive pricing and reference data.”
Arif Esa, SAP director of Treasury Management
Arif Esa, SAP director of Treasury Management

Arif Esa, SAP director of Treasury Management, commented: “Globalization and digital transformation are inextricably tied. As businesses become more agile in the cloud, their work can scale and transcend across borders, increasing the need to accurately price foreign exchange transactions. SAP Market Rates Management helps facilitate these transactions seamlessly. Our partnership with Thomson Reuters enables SAP customers to tap into a trusted source of market data with ease and confidence.”

SAP is a German-based European multinational software corporation that makes enterprise software to manage business operations and customer relations. Founded in 1972, the company is currently led by CEO Bill McDermott. The Market Rates Management package provides daily and historical currency market data for customer systems.