Ensuring Accurate and Timely Exchange Rates Through Oracle ERP Automation
How Iqra Technology automated the daily exchange rate update process for a UAE-based firm using UiPath RPA — fetching live rates from authoritative sources and updating Oracle ERP automatically to eliminate manual entry errors and ensure financial accuracy.
Client Overview
A UAE-based SME providing IT services and digital transformation solutions to medium and large clients. The firm's finance operations depend on accurate, up-to-date exchange rates across multiple currencies being reflected in Oracle ERP daily — as rates directly affect transaction valuations, financial reporting, and compliance calculations across the business.
The daily exchange rate update process was performed manually by a finance team member: checking a designated rate source each morning, recording current rates, navigating to the Oracle ERP currency configuration module, and manually entering updated rates for each currency pair. The process had to be completed before the business day began to ensure accurate transaction processing.
Iqra Technology was engaged to automate the complete exchange rate update workflow using UiPath RPA — fetching live rates from the authoritative source, validating them against acceptable variance thresholds, and updating Oracle ERP automatically every morning — guaranteeing timely, accurate rates without any manual effort.
Industry Details
Project Overview
The project deployed a UiPath RPA bot scheduled via UiPath Orchestrator that runs each morning before business hours. The bot fetches live exchange rates from the configured authoritative source, validates each rate against predefined acceptable variance thresholds to detect anomalous data, navigates the Oracle ERP currency module, and updates each currency pair automatically — confirming successful updates and alerting finance if any rate falls outside the acceptable range.
The automation ensures Oracle ERP always reflects current exchange rates at the start of each business day — eliminating the risk of transactions being processed with stale rates due to the manual task being missed, delayed, or incorrectly entered.
Client Requirements
- Automate daily fetching of live exchange rates from the authoritative designated rate source.
- Validate fetched rates against acceptable variance thresholds to detect anomalous or erroneous data.
- Automate navigation of the Oracle ERP currency configuration module.
- Update all configured currency pairs in Oracle ERP with validated daily rates.
- Send confirmation notifications to finance upon successful rate updates.
- Alert the finance team immediately if any rate fails validation or the ERP update encounters an error.
- Schedule daily execution via UiPath Orchestrator before business hours.
- Maintain an audit log of all rate updates, source values, and update timestamps.
Technologies Used
Challenges & Solutions
Measurable Results
Implementation Highlights
- Scheduled daily bot execution via UiPath Orchestrator — runs automatically before business hours every day.
- Live rate fetching from authoritative source with automated variance threshold validation.
- Automated Oracle ERP currency module navigation and currency pair updates without manual login.
- Immediate alert notifications if any rate fails validation or ERP update encounters an error.
- Confirmation email sent to finance upon successful completion with full rate update summary.
- Complete audit log of all daily rate updates, source values, and update timestamps.
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 implementation smoothly. The end result has streamlined our operations significantly."
"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."
FAQs
Need Exchange Rate Automation for Your ERP?
Our UiPath experts can automate your daily currency rate updates across Oracle ERP or any other ERP platform.
