Per-Vendor Exchange Rate Configuration for Multi-Currency System

Today, Cloudability’s Multi-Currency System (MCS) allows organizations to consolidate costs into a single currency using a global exchange rate. However, many enterprises operate in environments where each vendor or contract may use a different exchange rate for currency conversion. For example, AWS invoices may use the exchange rate at the time of billing, while MongoDB costs may be fixed at a contractually agreed rate for the contract’s duration. It also happens to have different exchange rates in the same vendor, for example AWS, it's possible to have many payer accounts with different currency set by payer account. So also, would be valuable to have the option to set the currency by payer account.
This discrepancy means that applying a single exchange rate across all vendors can lead to inaccurate financial reporting, misaligned cost allocations, and potential compliance issues. The inability to reflect real contractual terms in reporting can hinder transparency and trust in cost management.
Proposed Solution:
Enable the configuration of exchange rates on a per-vendor basis within the Multi-Currency System. Users should be able to specify and manage distinct exchange rates for each vendor, ensuring that cost conversions reflect the actual rates applied by each supplier or contract.
Why Is This Useful?
• Accuracy: Ensures that cost reporting matches real contractual obligations and vendor billing practices.
• Transparency: Provides finance and procurement teams with a true reflection of costs, supporting better decision-making and compliance.
• Flexibility: Accommodates complex enterprise scenarios where multiple vendors and contracts have different financial terms.
• Auditability: Facilitates easier reconciliation of invoices and internal reports, reducing manual adjustments and errors.
Who Would Benefit?
• Finance and Accounting Teams: Gain more accurate and auditable cost reporting for budgeting, forecasting, and compliance.
• Procurement and Vendor Management: Better track contract terms and evaluate vendor performance.
• Cloud Operations and FinOps Teams: Improve cost allocation, showback/chargeback processes, and internal reporting accuracy for business units.

Attached and example of the csv to update in case it is approved.