--- sourceDocument: Australia Strategic Portfolio Management sourceDocumentLink: https://servicenow-prod.fluidtopics.net/r/it-business-management Release : - australia ft:locale : - en-US ft:publication_title : - Australia Strategic Portfolio Management ft:clusterId : - itbm bundleId : - itbm workflow : - Technology --- # Multicurrency # Multicurrency in Demand Management {#ariaid-title1} Release version: Australia Updated March 12, 2026 ![](https://www.servicenow.com/docs/portal-asset/ico-clock) 3 minutes to read Summarize ![AI sparkle icon](https://servicenow.com/docs/portal-asset/ai-sparkle-icon) Summarized using AI This content was generated using new OpenAI-powered functionality. Results are provided on an as is basis and are not guaranteed to be accurate or complete. ## Summary of Multicurrency in Demand Management The multicurrency feature in Demand Management allows organizations to track financials across different currencies---corporate, regional, or project-specific. This capability is crucial for multinational organizations managing demands across various geographic locations with different currencies. Show full answer Show less ## Key Features * **Next Experience for Demand Management:** New customers should use this workspace for creating and managing demands, while existing customers can transition from the classic UI. * **Demand Currency View:** After activating the multicurrency plugin, users can manage financials in their preferred currency, with a dedicated view for multicurrency fields. * **Currency Preferences:** Users can specify functional, regional, or local currency for demand financials. * **Task Tracking:** Expenses for demand tasks are recorded in the chosen demand currency, calculated based on submitted time cards. * **Baseline Comparison:** Track financial performance over time by comparing financial baselines in the selected demand currency. * **Quick Start Tests:** Validate multicurrency functionality after configuration changes to ensure it operates correctly. ## Key Outcomes By utilizing the multicurrency feature, customers can effectively manage and track demands in any currency, facilitating financial oversight across different locations. This ensures accurate budgeting and financial analysis, ultimately enhancing decision-making and operational efficiency. To get started, activate the PPM Standard Multicurrency plugin, set your currency preferences, and switch to the demand currency view for comprehensive financial management. The multicurrency feature tracks demand financials in the corporate currency, regional currency, or the project currency. Corporate policy typically governs this preference. Important: Demands are available in the Next Experience for Demand Management. For more information, see [Next Experience for Demand Management](https://servicenow-prod.fluidtopics.net/NzD2gDmC_FOll_ZZRTwlFQ "Next Experience for Demand Management enables you to create, evaluate, and prioritize demands throughout the demand life cycle."). The workspace provides additional value beyond the legacy experience, including Playbook, Docs, and the ability to define different governance processes using playbooks. If you have Portfolio Planning Workspace or Strategic Planning Workspace, you can use the Next Experience for Demand Management to create and manage your demands. * New customers: Use Next Experience for Demand Management to create and manage your demands. * Existing customers: If you already have demands in the classic UI, you can continue using it. However, we recommend moving to the Next Experience for Demand Management, as your existing demands are automatically available there. {#multicurrency-demand__ul_jbf_ttk_m3c} In global or multinational organizations, demands are often managed and tracked at one geographic location and executed at a different geographic location. As each location might use a different currency to spend the budget, this difference in geographic location makes it difficult to monitor and track financials for such demands. The multicurrency feature in Demand Management enables you to manage and track demands from any geographic location in any currency. Monitor financials in one currency while spending the budget in another, such as the functional currency or regional currency. You can also manage demands in one currency and specify a different currency for future projects. ## Activation information {#multicurrency-demand__section_bjn_llx_hjb} Activate the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin to enable the multicurrency features in Demand Management. Activating the plugin enables the demand currency view in demand, cost plans, and benefit plans forms. With the demand currency view, you can manage your simple demand financials, cost plans, benefit plans, and budgets in the demand currency. Note: Activating this plugin automatically activates the PPM Standard (com.snc.financial_planning_pmo) plugin and therefore you get the option to switch between the default view and the demand currency view. ## Currency Preferences {#multicurrency-demand__section_bh2_1vl_tnb} After activating the multicurrency plugin, specify your currency preference for managing your demand financials. You can select your functional currency, a regional currency, or a local currency. For more information, see [Select demand currency preference](https://servicenow-prod.fluidtopics.net/oZQ9Up7hyijRAOzQol0eDg "Set your currency preference to use for managing and tracking the financials of your demands from the functional currency, regional currency, or local currency."). ## Demand currency view {#multicurrency-demand__section_w22_vbw_jjb} In addition to the default view in the Demand form, the Demand Currency view enables you to view the multicurrency fields. You can enable this view from the form context menu. You can designate a currency other than the functional currency as the processing Demand Currency for a demand. The Financials tab of the Demand form has the Demand currency field. You can select an active currency from the Currencies \[fx_currency\] table. Note: The Demand currency field of a demand becomes read only once you create a cost plan, cost plan breakdown, benefit plan, or benefit plan breakdown for the demand. ## Multicurrency in Demand Tasks {#multicurrency-demand__section_ttd_45t_dnb} Track the expenses incurred while performing the demand tasks in demand currency. After a demand task time card is submitted and processed, the actual cost is calculated. The calculation uses the rate model, the default labor rate, or the rate defined in the system property. View this actual cost in the Demand Task form in the Demand currency and Actual cost in demand currency fields. For more information, see [Demand tasks](https://servicenow-prod.fluidtopics.net/CcPMLl28RQgYCpxXIsOqUA "A demand task is a unit of work created within a demand. Use demand tasks to break down planning activities before converting the demand into a project, change, enhancement, or defect."). ## Multicurrency in Demand Baseline {#multicurrency-demand__section_vgw_zsj_2nb} Compare the financial baselines of your demands to track the performance of a demand over time. Baseline comparison enables you to identify and review the financial changes made to the demand at various stages of the demand life cycle. With the multicurrency feature, you can view the financial information in the demand currency when you compare the baselines. You can also configure the baseline view to add additional fields and view details in demand currency. For more information, see [Compare financial baselines of a demand](https://servicenow-prod.fluidtopics.net/zR4JbJwNQrGhXY4VkGqM5Q "You can compare baselines to review the variances in the financial data of a demand and see what changed."). * **[Select demand currency preference](https://servicenow-prod.fluidtopics.net/oZQ9Up7hyijRAOzQol0eDg)** Set your currency preference to use for managing and tracking the financials of your demands from the functional currency, regional currency, or local currency. * **[Enable demand currency view](https://servicenow-prod.fluidtopics.net/PomA_UqF9LncS9MexmPefw)** Switch to the demand currency view to track the planned costs of a demand in the selected currency. * **[Quick start tests for Multicurrency in Demand Management](https://servicenow-prod.fluidtopics.net/TrJwzF6jdq1R3FU2OuXszw)** Validate that the multicurrency in Demand Management still works after you make any configuration change such as applying an upgrade or developing an application. Copy and customize these quick start tests to pass when using your instance-specific data. * **[Upgrade existing demands](https://servicenow-prod.fluidtopics.net/nyt5k0xEaC22CpATMohC5g)** Execute scheduled jobs to upgrade your existing active and inactive demands, respectively, after activating the PPM Standard Multicurrency (com.snc.ppm_multicurrency) plugin.