In an expansion of its partnership, SAP and Thomson Reuters have released a new SAP Cloud Platform-based application to simplify the conversion of cross-border transaction prices into a single currency.
SAP Market Rates Management, Thomson Reuters data option, offers out-of-the-box connectivity to comprehensive pricing and reference data from the Thomson Reuters Financial and Risk business.
The partnership makes it easier for chief financial officers, treasurers and corporate finance teams to access pricing and reference data to more accurately calculate foreign exchange transactions, through a single solution, rather than having to integrate interfaces from multiple providers.
“This is a great example of the power of partnerships to make life easier for businesses, by integrating our trusted data into SAP’s cloud-based software services,” said Stuart Martin, Thomson Reuters managing director of Risk Information and Learning Services. “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.”
“Globalisation and digital transformation are inextricably tied,” said Dr Arif Esa, SAP director of treasury management. “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.”