SAP and Thomson Reuters release cross-border transaction management product

SAP and Thomson Reuters have released a new offering under a partnership to simplify converting cross-border transaction prices into a single currency. SAP Market Rates Management, Thomson Reuters data option, aims to be useful for accountants and CFOs serving companies that conduct foreign transactions.

SAP Market Rates Management is cloud-based and offers connectivity to pricing and reference data from the Thomson Reuters Financial and Risk business and is available to SAP customers worldwide.

Visitors pass a SAP SE logo at the CeBIT 2017 tech fair in Hannover, Germany, on Monday, March 20, 2017. Leading edge technologies in the digital world are showcased in this annual event which runs March 20 - 24. Photographer: Krisztian Bocsi/Bloomberg

The SAP-Thomson Reuters partnership is meant to make it easier for CFOs, treasurers and corporate finance teams to access pricing and reference data to more accurately calculate foreign exchange transactions. SAP Market Rates Management integrates foreign exchange and money market data from Thomson Reuters for pricing on global transactions.

“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, in a statement. “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.”

SAP customers can subscribe to the new service directly with SAP, with integrated access to the Thomson Reuters data and usage-based billing handled by SAP.

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