Wednesday, 10 July 2024 11:55

How homegrown tech is making the business of farming easier

Written by  Susannah Batley
Susannah Batley Susannah Batley

OPINION: Kiwi farmers are the best in the world at innovating to solve whatever is thrown at them.

From the electric fence to world-leading science and everything in between, New Zealand farmers can be proud of how they’ve adopted new technologies and practices to overcome challenges, boost production and take greater care of the environment.

That ability to innovate is being called on more than ever – it feels like everything in farming is on the move. Regulations are coming and going. The weather is becoming less predictable and more severe. Input prices have certainly been on the move.

The changing nature of the sector means many farmers are having to manage larger or multiple farms, as scale becomes increasingly important to the economics. It has become harder to attract and retain good employees. On-farm inflation is high, and interest rates have jumped in a short period. Demands on working capital are increasing, and fluctuating more.

New Zealand’s economic health depends on a strong, stable and growing primary sector. That requires greater efficiency and productivity, and finding ways to keep improving what we do so well. The challenges we face require more innovation than ever.

The benefits of new on-farm technologies, like cow wearables and automatic milking systems, offer opportunities for New Zealand farmers to farm smarter, increase production and better manage their farm environments.

But new technology and practices can come with complexity and a hefty price tag. Those considering large investments must weigh up whether the tech is actually worth it. The old notion of ‘iron disease’ – overspending on plants and machinery – is as relevant to farming today as ever.

Amid constant change and growing complexity, sometimes it can be best to just take stock and see what can be done to simplify what you’re already doing. The best new technologies are ones that simplify what you need to do and how you do it.

Sharesies has been developing new technology to make investing easier, simpler and more accessible to everyday Kiwis since 2017. So when Fonterra asked us to develop a new platform for farmers to trade Fonterra Co-operative Group shares among themselves, our first question was, “what opportunities could we create for farmers by making share trading easier and simpler?”

With so much in farming on the move these days, demands on working capital are increasing. Being able to make the right call to invest in your farming systems at the right time is important. It necessitates being in control of your financial situation, and the flexibility within that to make quick decisions.

We heard a lot from farmers about how they wanted greater flexibility to trade their shares – to be able to do this from the paddock or the milking shed as they saw production come in, enabling them to make decisions in real-time. They wanted notifications for when prices were moving, and the ability to more easily place share orders. Everyone wanted greater liquidity in the market, so farmers were better placed to access capital or make investments by selling and buying when they needed to, at the right price.

Sharesies Fonterra FBTW

Fonterra farmers are now using Sharesies to trade from the paddock.

This has been backed up by conversations we had with farmers at Fieldays, ahead of the new trading platform launching this week.

A mobile-first platform allows for decisions to be made ‘live’ on the farm instead of requiring farmers to be tied to the desktop. Introducing the ability to order shares before funds are in trading accounts means financial decisions can be made when they need to be. These were two of the key innovations we were able to incorporate into the new platform.

The easier it is to manage the financial side of the business and the easier it is to access capital, the less pressure there is out on the farm. Connecting users to a savings account as part of the new offering allows farmers to maximise interest earned on cash on hand, while being able to make withdrawals when needed. No strings attached.

By focusing on simplifying a core component of farming in an environment where so much is on the move, we hope the platform will make the business of farming that bit easier. Change doesn’t have to bring uncertainty and complexity. Sometimes, finding a way to take the pressure off can be the best way to get ahead.

Susannah Batley is Sharesies general manager company partnerships

More like this

All eyes on NZ milk supply

All eyes are on milk production in New Zealand and its impact on global dairy prices in the coming months.

"Our" business?

OPINION: One particular bone the Hound has been gnawing on for years now is how the chattering classes want it both ways when it comes to the success of NZ's dairy industry.

Farmers' call

OPINION: Fonterra's $4.22 billion consumer business sale to Lactalis is ruffling a few feathers outside the dairy industry.

Wasted energy

OPINION: Finance Minister Nicola Willis could have saved her staff and MBIE time and effort over ‘buttergate’ recently by not playing politics with butter prices in the first place.

Featured

Australia develops first local mRNA FMD vaccine

Foot and Mouth Disease outbreaks could have a detrimental impact on any country's rural sector, as seen in the United Kingdom's 2000 outbreak that saw the compulsory slaughter of over six million animals.

NZ household food waste falls again

Kiwis are wasting less of their food than they were two years ago, and this has been enough to push New Zealand’s total household food waste bill lower, the 2025 Rabobank KiwiHarvest Food Waste survey has found.

Editorial: No joking matter

OPINION: Sir Lockwood Smith has clearly and succinctly defined what academic freedom is all about, the boundaries around it and the responsibility that goes with this privilege.

DairyNZ plantain trials cut nitrate leaching by 26%

DairyNZ says its plantain programme continues to deliver promising results, with new data confirming that modest levels of plantain in pastures reduce nitrogen leaching, offering farmers a practical, science-backed tool to meet environmental goals.

National

Machinery & Products

JDLink Boost for NZ farms

Connectivity is widely recognised as one of the biggest challenges facing farmers, but it is now being overcome through the…

New generation Defender HD11

The all-new 2026 Can-Am Defender HD11 looks likely to raise the bar in the highly competitive side-by-side category.

» Latest Print Issues Online

Milking It

Full cabinet

OPINION: Legislation being drafted to bring back the controversial trade of live animal exports by sea is getting stuck in the…

» Connect with Dairy News

» eNewsletter

Subscribe to our weekly newsletter