Product Update Blog

More Robust Currency Management

Update on May 25, 2024

We are enhancing the way historical currency fluctuations impact currency conversions in Membrain. These updates prioritize accuracy and are being implemented gradually to simplify the understanding of how historical currency changes have influenced revenue, profitability, and other aspects over time

The system has been revamped to enhance robustness, encompassing everything from project currency fields to the value of fixed-priced products and recurring product lines. This redesign aims to ensure more controlled behavior. Additionally, we are exploring the integration of new features to facilitate the management of currencies and historical currency changes in the near future.

💡 This is great for things such as:

  • Better managing of currency conversions for international projects
  • More reliably tracking the impact of currency fluctuations on revenue and profitability
  • Analyzing historical currency changes to make informed business decisions
So how does it work? Well, this is a simple layout of how it works after this change that hopefully helps.

When do we show historical currencies?

Most of the time-specific contexts in Membrain, like a sales project you won at a specific time, will show the currency conversion that was relevant at that particular date. This means that if you have USD as your primary currency but are looking at your historical deals, a deal you won on Jan 1st, could have a different euro value than a deal that you won on May 1st if the currency has changed since then, even if the USD value was identical.
  • Value of Closed Sales Project (at Closing Date)
  • Value, Potential and Untapped Potential in Closed Account Growth projects (at End Date)
  • Product Revenue Graphs (at Revenue Date, including recurring products)
  • Product Columns in Sales Project List Graphs & List Views  (at Closing Date)
  • Currency Custom Fields in Closed Sales Projects, Prospects and Account Growth projects (at Closing/End Date)

When do we use the currency conversion that is current?

Many places in Membrain will look at what your current currency conversion rate is. These include these examples:
  • Value of Open Sales Projects
  • Value, Potential and Untapped potential of Open Account Growth projects
  • Currency Custom Fields in Open Sales Projects and Open Account Growth projects
  • Currency Custom Fields on Companies, Contacts and Activities

The way this works is also that you can get some differences that may not be immediately obvious and require some digging. If you win that sales project for 10000 USD on Jan 1st, and another one on May 1st, why don't they both have the same value when you're looking at them converted to Euros for example?

To help give these insights more easily, any currency value that is using an older currency conversion, is now highlighted in a slightly blue tint in list views and list graphs. Hovering above that value shows some additional helpful information.

These changes are intended to make tracking revenues more robust, and easier to understand than before, and we have additional improvements we are looking to add in the near-term, ensuring that you can fully trust and understand the data & analytics in Membrain in this critical perspective for any B2B organization.

Need help navigating this update? Feel free to contact us at support@membrain.com, and we'll guide you through the process.

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