How FornovaDI manages currency conversion

Comparing rates from different channels, brand.com rates to Direct OTA channels or OTA/brand.com on Meta channels, requires a currency normalization to make sure the rate comparison is correct.

By default, the rates In FornovaDI will be converted to the currency of the PoS which we have acquired the data from, i.e. if we have acquired the data from a US PoS, we will be converting the rates to USD ($).

FornovaDI uses a third-party service to get the currency exchange rate. Each day, we receive the currency exchange rate from the provider,  the exchange rate is retrieved once for every data acquisition initiation.

For customers whose data acquisition is separately initiated for each region, the currency exchange rate will be acquired from the third-party service for each one of the regional data acquisition processes.

 

Why we sometimes have a difference between the price on the OTA compared to the price on the brand, when before conversion we had the same price?

 

In order to cover the currency conversion issue, we define a threshold that is usually set for 2% which means that a shop will be considered as a meet case (same price) if the prices on the brand site and the other channels are the same with 2% threshold.

Sometimes the prices after the conversion are different because we are not using the same third-party provider for the currency exchange rate as other OTA's/MSE's, as a result, we might see a small diff in prices.