Live Exchange Rate Lookup

CurrencyScoop returns a current exchange rate for a given pair of currencies on request, covering both fiat and crypto pairs. A Beam agent triggers when a record needs a live rate, such as a new invoice issued in a foreign currency, reads the rate CurrencyScoop returns, and applies it to convert the amount before updating the record. Where CurrencyScoop can't return a rate for the requested pair, or the pair isn't one the customer has approved, the agent leaves the record as is and flags it for a person.

Historical Rate Comparison

CurrencyScoop also holds past exchange rates, which is useful for checking a conversion that was recorded on an earlier date against what actually applied at that time. A Beam agent pulls the historical rate for the date on a past transaction and compares it against the rate that was used at the time, applying the customer's approved tolerance for rounding differences. Where the gap is larger than the approved tolerance, the agent doesn't correct the record itself, it flags the difference for a person to check and resolve.

Multi-Currency Price Updates

Prices or invoice totals quoted in more than one currency need refreshing regularly as rates move throughout the trading day and across markets. A Beam agent applies the customer's approved schedule, such as once a day, to update listed prices or totals against current CurrencyScoop rates for each currency pair in active use. Where a rate has moved by more than the agreed variance since the last update, the agent holds off applying the change automatically and notifies a person before the new price goes live.