Converting Single-Currency from Incent into Multiple-Currency in Xactly Analytics
During one of our Xactly implementations, a client requested that the final payment report in Analytics should contain exchanged payment amount based on the payment currency set for each sales rep in Incent, but for that configuration we had used only one currency (i.e. USD) for all of the Incent config and results. And there was no currency exchange applied at all in the entire config.
As we have no direct way to get exchange rate values set up in Incent into Analytics columns, we came up with following solution.
- Setup Exchange rates in Incent.
- Use “GetExchangeRate” function and create a formula where the expression will be as follows: (GetExchangeRate (Base currency , Target currency , Exchange rate date to consider)
– For the above situation, it would be: (GetExchangeRate (USD , Person.PaymentCurrency , OrderItem.IncentiveDate)
- Create a credit type where exchange rate values will be stored for each rep based on their payment currency.
- Create a credit rule using Trigger as order type and value will be “GetExchangeRate” formula mentioned above and this rule will save exchange rate value in credit type mentioned above. Once we run the Trigger, we get exchange rates generated as Credits in the Incent results for each rep.
- In Analytics report to get the exchanged amount, we have to multiply required Calculated Object amount column with Exchange Rate credit type amount.
– For the above example, it would be Exchanged Payment Amount = Commission amount in USD * Exchange Rate Credit type value
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