Forecast in foreign currency - do others do this?

We are beginning our initial Anaplan build now for forecast, and we're trying to determine the best way to dollarize our unit forecast in appropriate foreign currencies and then roll up to a USD forecast. We're working with a business partner to implement, but our internal IT team is questioning if this is core Anaplan functionality or if we are forcing something not widely done. Could others confirm if loading daily fx rates and doing these forecast valuations in Anaplan is something widely done? Thanks!

Accepted answers

ChrisStauffer

Hi Amy B Shore

Yes absolutely. Anaplan doesn't care if its currencies or prices or bananas . It's just simple math.

Here are a couple of relevant links:

example with some screen shots

https://community.anaplan.com/t5/Anaplan-Platform/FX-Conversion-Help/td-p/83696

All comments

BrunoRodriguez

Hello @amybshore,

This is something widely done. You could have a list with the currencies and then map this list with entities/countries. That way when you look at your forecast for each entity/country you can apply a correction based on another module -dimensioned by currency- where you will have the FX rates.

Hope it was clear!

ChrisStauffer

Hi Amy B Shore

Yes absolutely. Anaplan doesn't care if its currencies or prices or bananas . It's just simple math.

Here are a couple of relevant links:

example with some screen shots

https://community.anaplan.com/t5/Anaplan-Platform/FX-Conversion-Help/td-p/83696

other articles

https://help.anaplan.com/12d8ca78-4670-4586-8ce2-70359d141794-Currency-Conversion

https://community.anaplan.com/t5/Anaplan-Platform/Generalised-currency-conversion/td-p/33614

Glad to discuss with your IT team if you wish.

Chris

amybshore

Thanks! But do you know if this is widely done within a Forecasting model directly? We aren't launching the finance module, and we're trying to ensure that we aren't trying inappropriately to recreate a financial function in our Demand module.

amybshore

Thanks -- but to confirm, is this widely done directly in the forecasting model? We're trying to ensure we aren't trying to recreate a financial function in Demand (we aren't implementing the finance module)...thanks!

jedwards

Hey @amybshore - short answer is yes this is frequently done in order to get an overall view of revenue impacts from Demand drivers/assumptions/scenarios. Demand and Revenue are so closely tied that it's uncommon to just have a Unit forecast without revenue, and in order to role up Demand Planning to a company-wide view, FX will come into the picture. Majority of clients will have FX conversion to USD (or reporting currency of choice), and the ability to flip reports between LC and Reporting currency. Hope this helps!

Quick Links

Can you help?

Unanswered questions

Batch Script
Hello team, I am logging into Anaplan through SSO. I would like to create a batch script to import a file into Anaplan. For the Spoke model, I would like to run an process via a batch script to import data from the Data Hub. Can anyone provide me script for both the condition.
import monthly data with months in columns
is there a way to import data with months in columns (usual excel table view)? I have to transform the data so there are rows to cover each period in the upload data form, but I am wondering if there is a better way to just import the data as is with the months in the columns. please let me know what you think. thank you,
Cloudworks Big Query Integration Fail
Hello, I am receiving an 'Anaplan Upload Failed' Status Description when testing my integration with a Big Query dataset. The integration imports data from BQ to our Anaplan model. No other details given in the error log. I suspect that Cloudworks is not even picking up the file but am not sure what we did wrong on the set…