Currency Rate Update
The project focused on automating the daily currency rate update process by retrieving exchange rates from the XE Currency Converter website. The automation converts 1 GBP to multiple target currencies, creates or updates corresponding currency entries on the PS Site, and synchronizes the latest rates with the Sage application. The solution eliminated manual effort, reduced errors, and ensured accurate, up-to-date currency data across systems.
Client Overview
The client is a finance-driven organization that relies on accurate multi-currency exchange rates for accounting, reporting, and financial operations. Due to frequent rate changes, manual updates were time-consuming and error-prone.
Technical Stack
Industry
Hi-Tech
Region
USA
Project-size
Non-Disclosable
Company size
Mid-scale company
Implementation Highlights
Automated navigation and data extraction from XE Currency Converter
Standardized conversion logic: 1 GBP → Selected Currencies
Dynamic selection of currencies based on business configuration
Automatic creation or update of currency records on the PS Site
Seamless rate update in the Sage application
Centralized logging, exception handling, and retry mechanism
Challenges & Solutions
Website UI Changes & Data Accuracy
Solution: Implemented resilient selectors and validation checks to ensure correct rate extraction.
Synchronization Between PS Site and Sage
Solution: Designed a step-by-step transactional flow with verification after each update.
Handling Selected Currencies Only
Solution: Used configuration-driven currency lists to update only business-approved currencies.
Error Handling & Auditability
Solution: Implemented robust Try/Catch, detailed logs, screenshots on failure, and email alerts.
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8+
Years of Business
Experience
100+
Happy
Customers
15+
Countries with
Happy Customers
100+
Agile enabled
employees
Results & Impact
- 80–90% reduction in manual processing time
- Significant reduction in operational errors
- Better financial reporting and compliance readiness
- Improved accuracy of currency rates across systems
- Consistent and timely rate updates through scheduled automation
Key Learnings & Achievement
- Importance of selector resilience in web automation
- Value of configuration-driven design for scalability
- Strong exception handling is critical in finance automations
- The solution has been thoroughly documented and organized as a structured reference guide, enabling organizations to easily review, understand, and replicate the implementation process with confidence. This establishes the solution as a trusted and dependable model, fostering credibility and motivating potential organizations to collaborate with us.
Currency Rate Update Automation
How Iqra Technology automated the daily foreign exchange rate update process for an Australia-based Hi-Tech company — eliminating manual data collection and ensuring accurate, real-time currency updates using Microsoft Power Automate.
Client Overview
A provider of advanced robotic process automation and AI-driven workforce solutions, enabling businesses to enhance operational efficiency and streamline complex processes through intelligent automation technologies.
Industry Details
Project Overview
An Australia-based Hi-Tech company required automation of its daily currency rate update process. The solution leveraged Microsoft Power Automate to fetch the latest foreign exchange rates from external financial APIs, update a central Excel master file, and push rates into the connected ERP system — eliminating all manual effort and ensuring accuracy across business units.
Client Requirements
- Automate daily retrieval of foreign exchange rates from external API sources.
- Update the central Excel master file automatically with fetched rates.
- Post updated rates directly into the ERP system without manual intervention.
- Send automated email notifications to finance stakeholders after each run.
- Implement error handling and retry logic for failed rate fetch attempts.
- Maintain an audit trail of every automated update run.
- Ensure duplicate detection to prevent overwriting existing ERP entries.
Technologies Used
Challenges & Solutions
Measurable Results
Implementation Highlights
What Our Clients Say
Verified reviews from Clutch.co — rated 4.7/5 across 8 client engagements.
"What stood out most about Iqra Technology was their genuine commitment to delivering quality work and their proactive approach throughout the project. It felt like working with a partner rather than just a vendor."
"Working with Iqra Technology was an excellent experience. They understood our requirements clearly, built the solution, and completed the integration smoothly. The end result has streamlined our operations."
"Iqra Technology played a key role in enhancing our internal digital workplace. The portal is now easy to navigate, visually clean, and aligned with our business needs."
"They performed as promised, communicated regularly, and completed the project on time. All requested data was properly and securely migrated."
"They're flexible and professional. If the company has a tight budget, they're the best company to work with. The team provides good value for money."
"The developer integrated seamlessly into our project, delivering high-quality dashboards that improved decision-making for our clients."
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