Currency conversion is specified inside a currency rate policy, allowing for flexibility in dealing with multiple rates. The exchange rate can be set based on the current market rate, allowing for flexibility in dealing with changes in currency values. The currency exchange rate is bidirectional, which is important. For example, if the USD to INR rate is x, the reciprocal rate is automatically calculated as 1/x. This bidirectional functionality assures consistency and convenience of use when converting currencies in both directions.
The following is an example of an organization that uses Conga CPQ in different geographic regions with multiple business transactions:
The headquarters of a company is in the US, and branches are in India and London. The main price list is defined by the marketing team in the US in USD; however, an administrator in India creates a quote that is based on a child price list, and the child price list is based on the price list created by the team in the US. The child price list is defined by the sales team in India in INR currency. In this scenario, the sales representative can simply define currency conversion rates, and the application converts currencies automatically.
To add a currency conversion
- Log in to the Conga Platform as an admin user.
- Click the App Launcher (
) icon from the top-left corner > Admin Console > Conversion Management. - Click New.
Enter or select values for the following fields:
| Field | Description |
|---|
| Source Currency | Search and select the currency you are converting from. |
| Target Currency | Search and select the currency you are converting to. |
| Effective Start Date & Time | Select the effective start date and time when the currency conversion begins to take effect. |
| Effective End Date & Time | Select the effective end date and time when the currency conversion will no longer be effective. |
| Conversion Rate | Define a conversion rate for the currency. The exchange rate can be a decimal or a whole number. |
- Click Save & New to save the created currency conversion and continue creating a currency conversion, or click Save to save the created currency conversion.
You can edit and delete the currency conversion by clicking the More (
) icon and then selecting the Edit or Delete option for the relevant Currency Conversion Rate from the list.
Once the conversion record is created, you can filter the records in the grid by performing a keyword (basic) search or applying one or more advanced filters and filter logic. For more information on keyword search and advanced search, see Filtering Records in the Grid View.
