Overview
The Convert Currency To Base enrichment enables multi-currency data consolidation by converting monetary values from various currencies into a single base currency. This enrichment is essential for organizations that operate across multiple countries or deal with international transactions, as it normalizes financial data for accurate analysis and comparison. By transforming all monetary amounts to a common currency, you can perform meaningful aggregations, comparisons, and financial analysis across your entire process landscape without the distortions caused by currency differences.
This enrichment works by examining each case or event that contains both a monetary amount and a currency identifier, then applying the appropriate exchange rate to convert the amount to your chosen base currency. The conversion creates a new attribute containing the standardized value while preserving the original amount and currency information. This approach is particularly valuable in global procurement, international sales, cross-border logistics, and any process involving multi-currency transactions where you need a unified view of financial metrics.
Common Uses
- Consolidate international sales data into a single reporting currency for global revenue analysis
- Standardize procurement costs from multiple countries for total spend analysis
- Compare process costs across different geographic regions with local currencies
- Calculate total financial impact of global operations in headquarters' reporting currency
- Analyze cross-border transaction values in a consistent currency for benchmarking
- Normalize invoice amounts from international suppliers for accounts payable processing
- Create unified financial dashboards that aggregate data from multiple currency zones
Settings
Attribute Name: Select the numeric attribute containing the monetary amount you want to convert. This must be a numeric field (integer or decimal) that represents a financial value. Common examples include Invoice_Amount, Order_Value, Cost, Payment_Amount, or any other monetary field in your dataset. The original attribute values are preserved, and the converted values are stored in a new attribute.
Currency Attribute Name: Specify the attribute that contains the currency code for each amount. This attribute should contain standard currency codes like "USD", "EUR", "GBP", "JPY", etc. The enrichment uses this field to determine which exchange rate to apply for each case or event. This attribute must exist in the same scope (case or event level) as the amount attribute.
New Currency: Enter the target base currency code that all amounts will be converted to. This should be a standard three-letter currency code such as "USD" for US Dollars, "EUR" for Euros, or your organization's reporting currency. All monetary values will be converted to this currency using the appropriate exchange rates configured in your mindzie instance.
New Attribute Name: Provide a name for the new attribute that will store the converted currency values. Choose a descriptive name that clearly indicates the values are in base currency, such as "Amount_USD", "Value_Base_Currency", or "Converted_Amount". This new attribute will be created at the same level (case or event) as the original amount attribute.
New Attribute Description (Optional): Add an optional description for the new attribute to help other users understand its purpose and calculation method. For example: "Invoice amount converted to USD base currency" or "Order value in company reporting currency (EUR)". This description appears in attribute tooltips and documentation.
Examples
Example 1: Global Sales Consolidation
Scenario: A multinational company processes orders from customers worldwide in local currencies and needs to analyze total revenue in US Dollars for corporate reporting.
Settings:
- Attribute Name: Order_Total
- Currency Attribute Name: Customer_Currency
- New Currency: USD
- New Attribute Name: Order_Total_USD
- New Attribute Description: Order total amount converted to USD for global revenue reporting
Output: The enrichment creates a new case attribute "Order_Total_USD" with converted values:
| Case_ID | Order_Total | Customer_Currency | Order_Total_USD |
|---|---|---|---|
| ORD-001 | 1000.00 | EUR | 1095.00 |
| ORD-002 | 85000.00 | JPY | 780.50 |
| ORD-003 | 750.00 | GBP | 952.50 |
| ORD-004 | 500.00 | USD | 500.00 |
Insights: With all orders converted to USD, the company can now accurately calculate total global revenue ($3,328.00), compare sales performance across regions, and identify top markets regardless of local currency fluctuations.
Example 2: International Procurement Analysis
Scenario: A manufacturing company sources materials from suppliers in different countries and needs to analyze total procurement spend in Euros for budgeting and cost control.
Settings:
- Attribute Name: Invoice_Amount
- Currency Attribute Name: Supplier_Currency
- New Currency: EUR
- New Attribute Name: Invoice_Amount_EUR
- New Attribute Description: Supplier invoice amount in EUR base currency
Output: Creates "Invoice_Amount_EUR" for procurement analysis:
| Case_ID | Supplier_Country | Invoice_Amount | Supplier_Currency | Invoice_Amount_EUR |
|---|---|---|---|---|
| INV-101 | China | 50000.00 | CNY | 6580.00 |
| INV-102 | USA | 12000.00 | USD | 10950.00 |
| INV-103 | India | 800000.00 | INR | 8900.00 |
| INV-104 | Germany | 15000.00 | EUR | 15000.00 |
Insights: The procurement team can now accurately track total spend (41,430 EUR), compare supplier costs fairly, and make informed sourcing decisions based on true cost comparisons.
Example 3: Cross-Border Payment Processing
Scenario: A payment processing company handles transactions in multiple currencies and needs to calculate daily settlement amounts in British Pounds for reconciliation.
Settings:
- Attribute Name: Transaction_Amount
- Currency Attribute Name: Transaction_Currency
- New Currency: GBP
- New Attribute Name: Amount_GBP
- New Attribute Description: Transaction amount converted to GBP for daily settlement
Output: For each payment transaction, creates "Amount_GBP":
| Transaction_ID | Transaction_Amount | Transaction_Currency | Amount_GBP |
|---|---|---|---|
| TXN-5001 | 250.00 | USD | 197.50 |
| TXN-5002 | 300.00 | EUR | 258.00 |
| TXN-5003 | 40000.00 | JPY | 295.00 |
| TXN-5004 | 150.00 | GBP | 150.00 |
Insights: The payment processor can calculate accurate daily settlement totals (900.50 GBP), monitor transaction volumes across currencies, and identify currency exposure risks.
Example 4: Multi-Currency Expense Reporting
Scenario: A consulting firm needs to consolidate employee expense reports submitted in various currencies for client billing in Australian Dollars.
Settings:
- Attribute Name: Expense_Amount
- Currency Attribute Name: Expense_Currency
- New Currency: AUD
- New Attribute Name: Expense_AUD
- New Attribute Description: Employee expense converted to AUD for client billing
Output: Converts all expense items to AUD:
| Expense_ID | Employee | Expense_Amount | Expense_Currency | Expense_AUD |
|---|---|---|---|---|
| EXP-801 | John Smith | 500.00 | USD | 765.00 |
| EXP-802 | Maria Lee | 350.00 | EUR | 560.00 |
| EXP-803 | Tom Brown | 200.00 | SGD | 225.00 |
| EXP-804 | Sarah Chen | 400.00 | AUD | 400.00 |
Insights: The firm can now accurately bill clients for total project expenses (1,950 AUD), track spending patterns across global projects, and ensure proper expense reimbursement.
Example 5: Healthcare Equipment Cost Analysis
Scenario: A hospital network purchasing medical equipment from international suppliers needs to analyze total equipment costs in their local currency (Canadian Dollars) for budget planning.
Settings:
- Attribute Name: Equipment_Cost
- Currency Attribute Name: Vendor_Currency
- New Currency: CAD
- New Attribute Name: Equipment_Cost_CAD
- New Attribute Description: Medical equipment cost in CAD for budget analysis
Output: Standardizes equipment costs to CAD:
| Purchase_ID | Equipment_Type | Equipment_Cost | Vendor_Currency | Equipment_Cost_CAD |
|---|---|---|---|---|
| PUR-901 | MRI Scanner | 1500000.00 | USD | 2025000.00 |
| PUR-902 | Ventilator | 45000.00 | EUR | 65250.00 |
| PUR-903 | X-Ray System | 8000000.00 | JPY | 95200.00 |
| PUR-904 | Ultrasound | 35000.00 | GBP | 60900.00 |
Insights: Hospital administrators can accurately assess total equipment investment (2,246,350 CAD), compare vendor pricing across countries, and make informed procurement decisions within budget constraints.
Output
The Convert Currency To Base enrichment creates a new numeric attribute at either the case or event level, depending on where your original amount attribute exists. The new attribute contains the monetary values converted to your specified base currency using the exchange rates configured in your mindzie system.
Attribute Creation: The enrichment adds a new column with the name specified in "New Attribute Name". This attribute has the same scope (case or event level) as the original amount attribute. The data type is automatically set to numeric (float) to handle decimal currency values accurately.
Value Calculation: For each case or event, the enrichment:
- Retrieves the original amount from the specified attribute
- Identifies the source currency from the currency attribute
- Applies the appropriate exchange rate to convert to the base currency
- Stores the converted value in the new attribute
Special Cases:
- If the source currency matches the target currency, the original value is copied without conversion
- If the amount value is null or missing, the converted value will also be null
- If the currency attribute is null or unrecognized, the original value is preserved without conversion
- The enrichment uses the display format "CurrencyBaseSymbol" to properly format the values with currency symbols
Data Preservation: The original amount and currency attributes remain unchanged, allowing you to maintain audit trails and perform additional analysis on the original values when needed.
See Also
Related Financial Enrichments:
- Multiply - Scale monetary values or apply conversion factors
- Divide - Calculate rates or unit costs
- Add - Sum multiple financial attributes
- Subtract - Calculate differences or margins
Related Cleanup Enrichments:
- Convert to Integer - Round currency values to whole numbers
- Representative Case Attribute - Standardize currency codes
Related Topics:
- Currency Configuration - Setting up exchange rates in mindzie
- Financial Process Mining - Best practices for financial data analysis
- Multi-National Process Analysis - Techniques for cross-border process comparison
This documentation is part of the mindzie Studio process mining platform.