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Multi-Venue & multiple currencies

Léa Bourgeois

Hi !

We have Pernod Ricard, a multi-venue customer with several venues, a few of which have a different currency.

We are currently trying to determine the best way to manage this setup.

About a year ago, I asked about multi-currency management (https://documentus.zendesk.com/hc/en-us/community/posts/28387464425495-Elite-Multi-currency) and was told that it is not natively supported, but that invoices and other client-facing documents can be configured to display a different currency. 
Based on that, I assume it would be possible to create separate price schedules (for example, one in euros and another in pounds with the corresponding local pricing).

However, I have not encountered this situation in practice before, so I wanted to ask whether anyone has managed a similar setup.

If so:

  • Did you keep everything within a single tenant and configure separate reports/dashboards to avoid issues with exchange rates and consolidated reporting?
  • Or did you decide to separate the venues into different tenants and manage them through OneView?

Ideally, we would prefer to remain within a single tenant, as this is what was initially agreed with the customer. But we of course want to avoid implementing something that could become difficult to maintain long term or create customer dissatisfaction later on.

Any feedback or experience would be greatly appreciated.

Thanks a million in advance!

(tagging Celine Puech, FIY)

 

Comments

3 comments

Date Votes
  • Kristi Miles

    Hi Lea!

    Great questions. Here are the 3 possible pathways that you could use explore using. Each come with their own caveats to think through what's best for them long term.

    Option 1

    • You could create them as separate tenants in Elite.
    • Set the Tenant currency to the appropriate type for each venue

    Caveat(s)

    • End users would need to manage a separate login for each tenant. Email addresses must be unique per instance in Elite.
    • They lose cross-venue viewing without the use of One View.
    • They don't have a shared CRM so contact info (if shared customers) would need to be entered a second, possibly a third time, depending on how many tenants are needed to make this happen.

    Option 2 (We have other customers doing this)

    • Set them up on a single currency of their choosing
    • On the Event level for each event, they enter into the Estimated Revenue field the exchange rate between the default currency and the desired currency. We then have logic in reports & templates to do math on the price & exchange rate to calculate the correct amount and display correct currency symbol

    Caveat(s)

    • They cannot then use the Estimated Revenue fields for their intended purpose. You need to verify that is ok with them and that they will never need this in the future.
    • In the Elite UI, all currency is still displayed as the account's set default currency, outputs to reports & templates described above

    Option 3 (I don't recommend)

    • You could set up the price schedules separately and input the price for the various currencies needed.
    • They would create 2 (or 3+) schedules, I'd recommend naming them USD - xxxx, EUR - xxxx
    • Prices would need to be converted to the proper amount for each item and input directly into Elite. So if I charge $15 USD / Gallon of Water, but we charge €20 Eur / Gallon of Water, they'd need to input €20 in as $20 USD to the price schedule for EUR - xxxx. We'd then create templates to show the correct currency, but would need to establish a point of differentiation to look for, like an Event Tag.
    • They would need to avoid adding multiple cross-currency price schedules to an event. Everything would need to be USD or EUR, etc.

    Caveat(s)

    • If they also set up items as different languages, they will need to VERY careful to add the proper item to the price schedule. This could get messy very quickly and there is a lot of room for error.
    • The UI will display whatever the currency type is set to on the tenant level. So even with the prices set to Euro pricing, they will display the default currency on the tenant in Elite
  • Léa Bourgeois

    Thanks a million Kristi for such a detailed answer !

    I was not aware that Option 2 was possible, we'll discuss it with Céline and Laetitia before discovery but I'm very happy to know that this is a potential workaround and that, even not perfect, it works for some customers :)

  • Kristi Miles

    One of our biggest customers on Elite uses this (Jio Expo) in Mumbai.

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