Enhanced currency conversion for all foreign cash transactions
MINNEAPOLIS (Feb 23, 2015)—InterplX Expense Management software solution ExpenseNet® recently upgraded to the Historical XigniteGlobalCurrencies Service for enhanced currency conversion for cash transactions.
Developed by Xignite, the leading provider of market data cloud solutions, XigniteGlobalCurrencies offers real-time and historical quotes for currency exchange rates (FX) and provides support for more than 170 currencies and over 29,000 currencies pairs. Within ExpenseNet®, clients can be uniquely configured to provide a suggested, monitored or mandated exchange rate and variance limit for all foreign cash expense transactions.
The upgrade to XigniteGlobalCurrencies was done in such a way as to be transparent to InterplX’s existing clients, yet allow them to take full advantage of the following:
- Latest calculated cross rates by bridging major currencies EUR/USD, USD/JPY, GBP/USD, AUD/USD, USD/CHF and USD/CAD
- Daily historical currency exchange rates
- Daily official cross rates published by central banks
“Having access to real-time and historical data needed for currency exchange is critical, as the rates are constantly changing and even the smallest shift can greatly impact the accuracy of a transaction,” said Stephane Dubois, CEO of Xignite. “InterplX’s use of XigniteGlobalCurrencies demonstrates how one of our advanced market data cloud solutions can be seamlessly integrated into another cloud service offering for the unique benefit of their clients.”
Chuck Buckner, CEO of InterplX Expense Management indicated, “While the bulk of international travel and entertainment expenses are put on corporate cards, this enhanced currency conversion functionality provides a level of automation and control such that foreign cash transactions pose less of a risk than ever before.”
“Our continued partnership with Xignite will ensure ExpenseNet® is the best available global expense report software solution for managing and monitoring currency exchange rates for travel and entertainment expense report reimbursements,” added Buckner.
About InterplX Expense Management (www.interplx.com): Founded in 1994, InterplX is a leading provider of business expense management and purchase card transaction processing solutions through a unique SaaS offering that combines proprietary ExpenseNet® expense report software and back-office services. InterplX is the only company that offers a total business expense management solution – from the receipt submission through expense audit, card payment processing, expense reimbursement, archiving, and discrepancy resolution.
About Xignite (www.xignite.com): Xignite, Inc. is the leading provider of market data cloud solutions. Xignite makes sourcing and integrating real-time and reference market data into apps and devices easy and more cost-effective than alternative data feeds. The Silicon Valley-based company is helping fuel FinTech innovation by powering web sites and apps for more than 1000 financial services, media, software and corporate clients, including FinTech standouts Betterment, FutureAdvisor, Personal Capital, SigFig, StockTwits, Wealthfront, Wealthminder and Yodlee. The company’s platform also powers private data distribution solutions for exchanges, market data vendors and financial institutions, including NASDAQ OMX, NYSE Technologies, Direct Edge and SIX Financial Information.