Automated revaluation of foreign currency balances. This guide covers revaluation process overview, gain/loss calculation, gl posting configuration, and more.
Revaluation process overview
Our Framework draws on recognised best practices, including Lean Management, Six Sigma, and the principles of Hyperautomation (encompassing Robotic Process Automation, Artificial Intelligence, and advanced analytics). This proposal outlines:
- Principles and Benefits of Lean Management, Six Sigma and Hyperautomation
- The DRIVE Framework and how it will be embedded within your Finance function
- Expected Benefits and Benchmarks, including cost savings, process efficiency, and staff rebalancing
- Challenges and Success Factors in adopting the Framework
- Commercial Proposal based on a fixed fee, plus variable fee based on the number of hours saved through this initiative
------------------------------------------------------------------------
2. Lack of Process Standardisation: As organisations grow, processes are patched together with minimal documentation or standardisation. High Reliance on Manual Processes: Cultural and infrastructural constraints often lead to continued reliance on spreadsheets and manual approvals. Resistance to Change: Rapid changes to systems or processes may be met with internal resistance, leading to stalled improvements.
Gain/loss calculation
Predictiv leverages advanced machine learning algorithms for gain/loss calculation. The system continuously learns from your data to improve accuracy and provide actionable insights that drive better decision-making.
GL posting configuration
The gl posting configuration process in Predictiv is straightforward and well-documented. Navigate to the appropriate configuration window through the main menu and follow the guided setup process. The system provides validation at each step to ensure your configuration is correct.
Scheduling revaluation runs
Scheduling revaluation runs is a core capability within Predictiv, designed to streamline operations and improve visibility. The implementation follows best practices while remaining configurable to meet your organization's specific needs.
Reporting and audit trail
Predictiv's analytics capabilities provide real-time visibility into reporting and audit trail. Interactive dashboards allow users to drill down into details, while scheduled reports ensure stakeholders receive the information they need without manual intervention.
Getting Started
To implement foreign currency revaluation in your Predictiv environment:
1. Assess your current state - Review existing processes and identify improvement opportunities
2. Configure the module - Work with your implementation team to set up the required components
3. Train your team - Ensure users understand the new capabilities and workflows
4. Monitor and optimize - Track key metrics and continuously improve
Related Resources
For more information on related topics, explore our other guides in this collection.
Need Help?
Our team of experts is available to help you get the most out of Predictiv. Contact us to discuss your specific requirements and how we can help you achieve your goals.