As one of our many e-commerce related Web services, StrikeIron provides both current and historical foreign exchange rates that can easily be integrated into any application with a simple SOAP or REST call. The current/live exchange rates are updated every 30 minutes throughout each business day and are aggregated from a variety of global banks and currency markets. The historical rates provided (currently back to 2004) are based on the London close.
ClearSaleing is a customer of StrikeIron who is taking advantage of live integrated currency rates in an innovative way. Clearsaleing provides an advanced advertising analytics platform that tracks all forms of online advertising and measures the impact each ad has on the bottom line. This is achieved by incorporating sales margin data for transactions that happen both online and offline, providing deep insight into online advertising campaigns.
The solution goes far beyond simple click tracking. For example, it incorporates comprehensive Attribution Management, enabling profit and revenue credit to be assigned to all ads that contributed to a conversion, rather than just crediting the very last ad. It can also be integrated into back office systems like CRM, Order Entry, HR, and Accounting to tie offline sales and other relevant data back to the ads that produced an online lead, phone call or inquiry.
ClearSaleing's need for live currency rates stem from their customers with a global presence. The integration to StrikeIron enables accurate currency rates for any online search accounts (such as Google's AdSense) being tracked in foreign currencies. Then, media costs and the associated sales revenue associated with that media are accurately calculated using a daily rate and therefore not misleading due to global currency swings, or specific currencies trending up or down over certain periods of time. This helps ensure accurate data for the decision makers analyzing the success and failure of various media targets using ClearSaleing's analytics platform.
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