This article briefly explains how the multi-currency features of Claritum operate.

Base Currency

Currently, each Claritum system has just one single 'base' currency which is used by all service platform users (managers). All other currency values are converted and displayed in this base currency.

Customer Currency

Customers can be assigned any currency. Each Quote sent to the Customer is then converted from the base currency into the Customer's currency and displayed as such on the Quote letter.

Supplier Currency

Suppliers can be assigned any currency. Quotes entered by the supplier are considered to be in the supplier's currency and are then converted into the base currency when viewed by the service provider.

Available Currencies & Exchange Rates

Before a currency can be assigned to a supplier or customer its exchange rate must first be set in the Configuration → System → Exchange Rates. Only once the exchange rate has been set can the currency be selected on either the Customer Details or Supplier Details page.

Reporting

The Data Warehouse (reporting system) retains all prices in all available currencies so allowing you to analyse spend in not just the base currency but any currency that had an exchange rate set at the time.

Multiple Base Currencies

Currently the Claritum system does not support multiple different base currencies (i.e. all service platform users can only work within the same base currency).

However if you have multiple teams operating in different territories and require different base currencies then this can only be currently achieved by deploying a separate Claritum system with that different base currency.

Reporting across the deployments is supported so allowing for 'group'-level analytics and reporting.

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