The goal of this adapt and apply solution is to show finance teams how Dataiku can be used to efficiently manage and productionize the analysis of FX Impact. More details on the specifics of the solution can be found on the knowledge base.
Measuring exchange rate impact on revenues and expenses is critical within any multi-currency business. While the accounting impact of exchange rates is usually handled by formal rules, the internal business discussions around the impact of exchange rate fluctuations and their implications often remains complex.
Providing an environment to allow FX experimentation and impact modeling that is robust, scalable, governable, and has the capacity to handle large data sets and complex business logic plays an instrumental role in allowing Finance and Business teams to focus on decision making rather than tedious calculation and iteration.
With improved FX impact understanding and modeling delivered on a modern analytics platform, Finance teams are in a position to:
- Better analyze performance to plan.
- More accurately communicate financial results and the impact of FX fluctuations.
- Develop advanced FX hedging strategies, e.g., across an entire P&L, for specific currencies, specific projects, and more.
More broadly, FX impact modeling is one of the first steps Finance teams can take towards embracing the potential of agile analytics to enhance their business partnering positioning across all dimensions: from budget building and investment decision making to precise monitoring and forecasting, at any given granularity.
- Simply ingest costs and revenues with full flexibility on periods, granularity and input systems.
- Compute FX impacts across currencies and compare to various rates, e.g., budget, current, forecast.
- Accelerate discussions between Financial Analysts and Business Owners thanks to powerful interactive dashboards with pre-built analyses.
- Immediately begin FX rates experimentation and review results through the dedicated visual interface.
- Empower all finance teams through a visual setup allowing any team to quickly create the project, connect datasets, and set key parameters, with scalable design.
Instant setup via a Dataiku Application
Easily connect to relevant data sources and specify appropriate exchange rates and cadences (daily to annual) without writing code or manual modification.
Easy to use interactive tables
Test and measure evolution of FX rates through a dedicated interface to accelerate fixed FX rate decision making during budget setting and other processes.
Prebuilt Analytics Dashboards
Leverage available visual analytics for immediate insights and relevant summaries sharing with business partners and management.
Adapt and Apply structure
Leverage the prebuilt flow to deliver insights. Adapt and customize to needs to derive full value by quickly adjusting the project flow.
Scalable & Flexible for company-wide impact
Share a single project across multiple teams, or create copies to allow separate business lines or teams to experiment independently, and export results with ease.