Insights - Dashboards add deal values as if they were all in the default currency
Looking at the Insights dashboard for 'Deals won over time', the deal values are added as if they were all in our default currency (GBP). But we record deal values in whichever currency we invoice that client, which may be USD, EUR, AUD, NZD, SEK etc. For example that grey block in the Oct 2022 column below, which appears to be for about £30k, is actually for about SEK30k, which is around £2,365. And therefore the total for that column is wrong too.
The table below the chart, or the tables that I get if I click on the chart, do show the correct amounts and the currency for each (but they don't attempt to calculate a total).
I was investigating whether we should start to use Insights, rather than exporting data and building dashboards with other tools, but the current dashboards in Insights can be very misleading!
Do you have any plans to include automated currency conversion in Insights dashboards or do we need to start recording all our deal values in our default currency if we're to make use of Insights dashboards? I guess you'd need to choose what date to use for exchange rates, and/or we'd have to set up our preferred fixed exchange rates for the currencies we use, but either way would give us more realistic charts than at present.
Manuel Oliveira Admin Posts: 707
Hi @Terry Bucknell , I have converted your comment into product feedback so our team can look into it, and other users can upvote it as well.0
@Manuel Oliveira Are there any updates on this? There should be an option in Pipedrive to report on Total Amount Converted (converted to default currency). Salesforce reports have a Total Amount (converted) function for multiple types of price fields (unit, list, total amount, etc). This not being a function is very problematic for businesses that work with international clients.1
Nicholas Norman Posts: 2
Thanks for pointing this out @Terry Bucknell
I'm slightly flabbergasted that this is the case, this essentially makes insights useless to any company operating at an even slightly international scale.
I see the active tab @Manuel Oliveira , do you have any insight into how this is progressing?0
Leonardo Zimmermann Moderator Posts: 42edited March 7 #5
Hey, @Terry Bucknell!
I was checking this further with our product team and insights should actually do automated currency conversions to the account's default currency 🤔.
Let me show you an example:
My account's default currency is Euro. In March, two deals were won: one of them had a value of 100 Euros, while the other one had a value of 100 Brazilian Reais. 100 Brazilian Reais currently convert to 18 Euros, and I have my report showing me the total revenue of March with the correct currency conversion (118 Euros). Here is a closer look to the value of those deals:
That said, if I understood correctly your report is not behaving the same way, is that correct? If that is the case, then please reach out to our Support Team and share a link to this post (to make things easier) so that we can investigate further, as this is not expected.
If the issue is actually something else, on the other hand, then please feel free to explain it in further details so that we can take a closer look.
To avoid this problem, we now record all deal values in GBP, with additional custom fields to record the quoted price and invoiced amount in other currencies as necessary. Ultimately the figure we put in Value is the GBP amount received, which is actually the most precise figure for us to use in Insights. But it's a pain recording multiple values of course!
To see if I could reproduce the problem, I switched one of our closed deals back to a value in SEK and waited a while for the dashboard to update and, umm, the total value for that months was indeed correctly calculated and displayed in the dashboard in GBP! 😳
I now have no idea why I thought it was adding values without converting to the default currency 🤦♂️
Can we just quietly delete this thread and pretend it never happened?!0
Update... we weren't using Products, instead we were just entering the price into the Value field. It seems that when we use Products, the non-GBP values are converted to GBP, but if Products aren't used, Values aren't converted to GBP.
Also, when you click through from a dashboard to the underlying data, or when you create a Filter in Deals (list view), the values are displayed in the various currencies entered, and the total is displayed in the default currency. But there doesn't seem to be a way to display a column for the currencies converted to our default currency in table/list view. Or are we missing something?
Also, for a Won deal is the conversion is done at today's rate, or at the rate that applied on the date that the deal closed?0