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steve_davis
steve_davis
Gainsight Employee ⭐️⭐️
August 9, 2016

Currency Conversion in the MDA

  • August 9, 2016
  • 6 replies
  • 171 views
Customer raised a ticket in which the currency conversions are all wrong in GS. After debugging we determined the currency conversion is not supported in the MDA. No workaround is available. 

      6 replies

      ashok_dugaputi
      ashok_dugaputi
      Helper ⭐️⭐️
      August 9, 2016
      @Steve Davis- Yes, currency conversion is not supported in MDA but why would numbers go wrong?

      BTW: In the Fall release, we are planning to support currency format (not conversion) in MDA.
      dstokowski
      dstokowski
      Gainsight Employee ⭐️⭐️
      August 9, 2016
      Since we are not doing currency conversion, what was the customer doing that led them to believe that currency conversion was/would happen in MDA Gainsight?  
      steve_davis
      steve_davisAuthor
      Gainsight Employee ⭐️⭐️
      August 10, 2016
      My apologies, I wasn't clear. Customer is actually using MDA rules to push MRR and ACV values into Gainsight. Its my understanding that if these rules were built off of SFDC objects the conversion would work (aggregating a currency field). However, because there is no currency and no conversions done in MDA its just taking the numeric values and slapping a dollar sign in front of it. I also shared this with the client in hopes she will add more clarity into the full setup. 
      george_kingston
      Gainsight Employee ⭐️
      george_kingston
      Gainsight Employee ⭐️
      October 10, 2018
      Multi Currency support in the MDA objects is a usual issue with many deployments in EMEA. I would strongly suggest we look into that. Relying on the Customer Info for the correct currency is inadequate and as we know our long term strategy is MDA, therefore we should allow for it in the MDA.
      M
      mattlesiczka
      Contributor ⭐️⭐️
      November 20, 2018
      We developed a workaround to help us normalize our currencies to the salesforce corporate currency and load that number to the MDA, we can then use this to report MDA data alongside a revenue number (such as health score by revenue).

      The steps we followed are below:

      1. In SFDC rollup revenue to the account (in our case an ARR number)
      2. Create a new formula field and use the following formula (note this is for MRR for our use case): "( / 12) * (1/(CURRENCYRATE(text(CurrencyIsoCode) )))"
      3. Map this data to load to the customer info object via rule
      4. Create a field on the Company MDA Object
      5. Map customer info field to the Company MDA Object in Gainsight Connect - (name this field with the currency for Execs example: "MRR (EUR)".
      Note the results may not be perfect but they'll provide directional decision making.

      R
      rakesh_lingala
      Helper ⭐️⭐️⭐️
      February 6, 2020

      Hello Everyone!

      Super Exciting News!!! Gainsight now supports the Multi-Currency feature for new NXT customers. New NXT customers who onboard Gainsight NXT after the V6.10 Release, can enable the Multi-Currency feature to support multiple currencies across Gainsight. When Admins enable the Multi-Currency feature, various related changes are visible across Gainsight functionalities.

      For existing customers who are using single-currency support, we're developing a migration framework to upgrade you to Multi-Currency. We will upgrade customers in batches over the next few months. If you have any questions, please contact your Gainsight Client Outcomes Manager (COM).

      Happy Posting.

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