Product Update: More Flexibility in Multi-Currency Approvals

What’s Changing:

From next week, all Approver user profiles will include a new currency field for approval limits. This enhancement will not change any existing approval workflows or business logic yet. It simply associates each approver’s limit with a specific currency, improving accuracy and visibility.

Why are we doing this:

Previously, approval limits were compared using the claimant’s default currency, which made multi-currency approvals tedious. Each approver will now have a set currency, and ProSpend will convert limits using the exchange rate on the spend date for accurate validation.

What you need to do:

We’ll introduce this field from next week. You will need to:

1. Log in as an admin and go to Reports → Export Database → User Export.
2. Check the new “Approval Limit Currency” column for each approver.
3. Make any necessary updates directly in the user profile settings.

This is the first phase of this enhancement and will not change how approvals behave yet. 

What’s coming next (Phase 2 - Coming soon):

In the next phase, ProSpend will begin automatically converting and comparing approval limits in the correct currencies. This will ensure all approvals get validated using consistent, accurate conversion logic. 

We will send you another email before this phase goes live.

In the meantime, if you have any questions or need assistance reviewing your approval limits, please contact your Customer Success Manager.