Exchange Rate Update Process

Ensuring Accurate and Timely Exchange Rates Through Oracle ERP Automation

The project was designed to automate the daily foreign exchange rate update process in Oracle ERP by eliminating the manual effort involved in collecting and posting currency rates. Using RPA and rule-based automation, exchange rates are automatically retrieved from the UAE, Oman, and Saudi central bank websites, updated in the Excel master file, and posted directly into Oracle ERP. The solution also generates confirmation and summary notifications for stakeholders, ensuring timely, accurate, and consistent exchange rate updates across all business units while reducing manual workload and the risk of human error.

Client Overview

A large diversified business group operating multiple companies with centralized finance operations. The client manages daily currency exchange rate updates across multiple business units where accurate currency conversion is critical for financial postings, GL entries, AP, AR, and treasury operations.

Technical Stack

Industry

Investment Management

Region

UAE (Sultanate-wide implementation)

Project-size

Non-Disclosable

Company size

Large Scale Authority (National Government Body)

Implementation Highlights

Automated currency extraction: Automatically retrieves the latest foreign exchange rates from the UAE, Oman, and Saudi central bank websites, ensuring accurate and up-to-date currency data without manual effort.

Automated Excel master update: Updates the central Excel master file with the newly extracted exchange rates, maintaining a single, reliable source of truth across the organisation.

ERP-driven exchange-rate posting: Post the updated exchange rates directly into Oracle ERP through secure, rule-based automation, ensuring consistency across all business units and ledgers.

Automated reporting and email notifications: Generates confirmation and summary reports and sends automated email alerts to stakeholders, providing full transparency and an audit-ready trail of every update run.

Challenges & Solutions

Multiple Central Bank Websites with Different Structures

Solution: Developed separate extraction logic for each central bank website along with fallback mechanisms. This allowed the bot to handle different layouts and formats reliably, ensuring accurate exchange-rate extraction even when website structures changed.

ERP Java Forms Slow Loading

Solution: Implemented intelligent wait conditions so the bot proceeds only when key screen elements are fully loaded. Error-recovery steps were added to retry failed actions automatically, improving stability and reducing process interruptions.

Duplicate or Already Updated Exchange Rates

Solution: Enhanced the bot to detect “rate already exists” messages in the ERP system. When this message appears, the bot skips that currency and continues processing the rest, preventing duplicate entries and unnecessary processing.

Website Downtime or Slow Response

Solution: Introduced retry logic, detailed exception logging, and automated email alerts. This ensured the bot could recover from temporary website outages while also notifying the support team for further investigation.

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