insightsoftware, a Raleigh, NC-based provider of solutions for the Office of the CFO, acquired FXLoader, an Alton, UK-based provider of automated exchange rate loading software for enterprise resource planning (ERP) systems and financial applications.
The amount if the deal was not disclosed.
With the acquisition, FXLoader will expand insightsoftware’s existing reporting and consolidation capabilities by automating critical foreign exchange rate processes in real-time for global organizations.
Founded in 1998, FXLoader streamlines multinational financial and tax reporting by populating the foreign exchange rates required to buy and sell goods and services internationally. It delivers flexible integrations for adding or changing the source, ERPs, rate type, and new currency without the need for individual monitoring, and integrates with leading ERP systems such as Oracle Fusion ERP Cloud, Workday, and SAP. It automates the loading of currency exchange rates from OANDA, Xignite, Bloomberg, and 70+ other central banks. In addition, the technology monitors every new rate versus the previous rate, automatically investigating any changes greater than five percent to ensure consistency and accuracy.
insightsoftware is a global provider of comprehensive solutions for the Office of the CFO with solutions across financial planning and analysis (FP&A), accounting, and operations. Headquartered in Raleigh, North Carolina, the company has a global team with offices around the world, with more than 2,400 team members, 32,000 global customers, 500,000 global users, and 1,300 partners.
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