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Multiple currency in AIMS allows law firms and vendors of all sizes to submit invoices in their native currency. Firms and vendors use the exact same product and procedures to send invoices to their corporate clients. In fact, invoices in any currency can be submitted in detail or summary through DataCert's secure network. Once an invoice is submitted, it is automatically converted to the defined currency, as determined by the corporation's billing guidelines. Exchange rates can be managed manually or updated automatically.

Invoices are then automatically retrieved by the corporate legal department and routed through workflow for approval. Invoices can be reviewed in either the firm's submitted currency or the system's base currency. While reviewing invoices, the user can toggle between viewing the invoice in its submitted or base currency. If the reviewer determines the invoice violates the submission guidelines, the invoice is adjusted in the submitted currency.

After the invoice has completed workflow and been approved for payment, it is posted to the accounts payable system in the submitted currency. At that point, the accounts payable department can determine whether or not the invoice is to be paid in the submitted or base currency. If paid in base currency, the final exchange rate will be determined, payment made and reconciliation information sent back to AIMS.

DataCert provides a complete set of tools that will allow your company to take control of currency administration. Using these tools, a corporate legal department can maintain the list of accepted currencies, assign specific currencies to a law firm or vendor and determine the method for managing the exchange rates.