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Ruddr is built to serve the needs of professional services firms across the globe. With the multicurrency feature enabled, companies can operate in over 180 worldwide currencies. This allows you to evaluate the performance of clients and specific projects in the most appropriate currency. You will be able to specify the currencies you wish to be available for your workspace. Ruddr allows you to select a currency for each project. All monetary values and financial key performance indicators on the Project Dashboard (Figure 1) will be shown in the project currency. Also, all invoices will be created in the project currency. Figure 1 - Sample Project Dashboard Values Shown in Euros Ruddr also provides the ability to evaluate the overall business performance in the company’s designated “Home Currency”. So, project teams can deliver projects in their local currencies while the corporate office can easily evaluate the business performance in a single currency. To accomplish this, Ruddr executes real-time currency conversion from project currencies to the home currency. Ruddr maintains currency exchange tables on a daily basis that enable conversion from any currency to any other currency. These currency exchange tables start on January 1, 1999 and have currency exchange values for every single day since that initial date. Click here to learn more about currency conversion in Ruddr.

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Enabling the Multicurrency Feature

The multicurrency feature is only available within the Pro plan of Ruddr and by default the feature will be disabled in a new workspace. To turn the feature on, simply toggle the Multicurrency feature (Figure 2) within the Features page of Workspace Settings. Figure 2 - Multicurrency Feature Toggle

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Regional Settings

Every workspace in Ruddr can have its home currency set within Workspace Settings, regardless of whether or not the multicurrency feature is enabled. For workspaces that do not have multicurrency on, the home currency will be used for all monetary values within the workspace. For workspaces that have the multicurrency feature on, the home currency will be the default currency. The workspace’s default Time Zone and Regional Format can also be set from the Regional Settings area (Figure 3). Figure 3 - Workspace Regional Settings It is also important to point out that each user in Ruddr can select his or her own Regional Format on their user profile. This allows users to view dates, times, numbers, currencies, and percentages in the standard format for their country or region. As workforces become increasingly global, it is beneficial for each user to view information in their local standard format.

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Setting the Workspace Currencies

When the multicurrency feature is enabled, the Regional Settings will include an additional field called Other Available Currencies (Figure 4). Simply select the currencies that you want to make available in the workspace in addition to the home currency. Figure 4 - Currency Options within Regional Settings Currency selectors throughout the workspace will only have options for the home currency plus any other available currencies that are selected in the Regional Settings. Once the currency options are configured at the Workspace level, you are ready to configure a Client Currency and Project Currency.