Indicator scores in reference currency

  • Release version: Xanadu
  • Updated August 1, 2024
  • 2 minutes to read
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    Summary of Indicator Scores in Reference Currency

    This guide addresses how to track monetary fields, specifically Price, Currency, or FX Currency, through Performance Analytics on the ServiceNow platform. It enables users, such as global project managers or CFOs, to view key performance indicators (KPIs) converted to a standard reference currency, facilitating informed decision-making based on global trends.

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    Key Features

    • Indicator Setup: Create an automated indicator that uses the reference currency for aggregation, ensuring accurate monetary KPIs.
    • Field Requirements: The selected field for aggregation must be of type Price, Currency, or FX Currency, and the aggregate type must not be Count or Count Distinct.
    • Precision Handling: The Precision field is inherited from the FX Currency configuration when using reference currency.
    • Exploration and Sharing: Once scores are collected, they can be analyzed in the Analytics Hub or shared through widgets, utilizing the correct precision and symbol for visual representation.

    Key Outcomes

    By configuring indicators to collect scores in reference currency, users can effectively monitor and analyze financial data across multiple currencies. This setup ensures that decision-makers have access to standardized financial metrics, enhancing clarity and facilitating strategic planning. Note that proper configuration of FX Currency fields by a currency administrator is necessary for functionality.

    You can track the trends for monetary fields of the types Price, Currency, or FX Currency. The scores for an indicator based on any of these fields are collected in the Reference Currency values.

    To collect these scores, select the unit on the indicator as Use reference currency

    Warning:
    If the reference currency for a field changes after you have set up the indicator, scores are no longer collected properly.

    Sometimes you need to provide your users with monetary KPIs converted to a standard currency. Consider a global project manager or CFO who deals with project costs in many different original currencies. They need to see all these costs converted to the global company currency so they can make decisions based on global trends. To provide such users with the KPIs they need, you can configure Performance Analytics indicators to collect scores denominated in a reference currency.

    To collect indicator scores in a reference currency, create an indicator with the following characteristics:
    • The indicator is an automated indicator, not a formula or a manual indicator.
    • The aggregate is not Count or Count Distinct and the indicator is not Scripted.
    • The selected Field to aggregate has the type Price, Currency, or FX Currency.
    • The selected Unit for the scores is Use reference currency.
    For the full procedure of creating such an indicator, see Create an automated indicator.
    Note:
    • A currency administrator must configure FX Currency fields before you use them in indicators.
    • The Precision field is not available on the indicator form when Use reference currency is selected. Instead, the precision is inherited from the FX Currency configuration.

    After the scores have been collected, you can explore them more deeply in the Analytics Hub or share them through a widget. The reference currency precision and symbol are used in all visual elements: the score value, change value, target, threshold, and tooltips.

    System Reference Currency reference

    As a Performance Analytics expert, you do not set up the reference currency. Someone with a currency administrator role performs this task. However, you may still want to know how reference currencies work on the ServiceNow AI Platform. A brief summary with links follows.

    For a Price or Currency field, the system reference currency is the value of glide.system.locale as set in the localization properties. If this property is not set, the system default based on physical location is used. For more information about setting the reference currency for these fields, see Setting up and operating standard currency fields.
    Note:
    Performance Analytics indicators do not use session currency values.
    For an FX Currency field, the indicator scores are based on this hierarchy of configuration settings:
    1. If field-level FX Currency configurations are set, these take precedence. If they are not set...
    2. The Global FX Currency configuration is used. If the global configuration is not set...
    3. The setting in glide.system.locale is used. If no value is set in this property...
    4. The system default is used.

    For more information about configuring FX Currency fields, see Setting up and operating FX Currency fields.