Friday, 12 February 2016 20:24

BNZ invests in farm accounting software

Written by 
BNZ head of agribusiness John Janssen. BNZ head of agribusiness John Janssen.

BNZ has announced its plans to make a cornerstone 17% investment in cloud-based farm accounting software provider, Figured Ltd.

Figured is an online accounting tool that makes it easier for farmers to work with their accountants, farm consultants, and rural bankers.

BNZ head of agribusiness John Janssen described the investment as another way BNZ is partnering with its agribusiness customers through a challenging time of on-going price and climate volatility.

"It's a tough time in the cycle for our farmers. Keeping an eye on costs, budgeting conservatively and working with their bank and accountant is as important as ever," says Janssen.

"We've got world-class farmers – but being a great farmer doesn't mean you're an accountant. Figured gives those in the agricultural sector another tool to plan ahead and forecast as conditions change."

Figured chief executive Paul Reid welcomed BNZ as both an investor and customer, and said it was both a strong endorsement of, and outcome for, Figured.

"BNZ's investment will mean more New Zealand farmers can access a flexible tool that allows them to take greater control of their financial management. Figured will be able to learn from BNZ and continue to develop a product that meets the needs of farmers," says Reid..

The investment will help to increase Figured's rapidly growing customer base, while supporting the company's expansion throughout New Zealand and Australia.

As part of the partnership BNZ will distribute Figured software licences to its agribusiness customers free of charge later this year, for two years.

» Connect with Rural News

More like this

Lamb on a roll

Lamb prices hit an all-time high of $8.60/kg early last month.

No time to stand still

Tom Pow, founder of Herd Homes, on the banking and environmental pressures facing farmers.

Farmer confidence lagging, but...

The latest survey of farmer confidence from Federated Farmers does not make pretty reading, says BNZ senior economic Doug Steel.

But it's not all doom and gloom.

» The RNG Weather Report

Featured

Soil moisture: no more looking over the fence

Farm manager Bryan Mitchell describes as brilliant the SCADAfarm systems that allow him to remotely monitor and manage the irrigation of his 300ha of leased grazing land near Kirwee.

 

Separation gives constant result

Effluent separation offers a number of unique advantages, and opportunities that other systems don’t offer, says farm equipment manufacturer Rakaia Engineering Ltd (REL) Group.

Cultivating the right way

Cultivation of paddocks is common on farms at this time of year. It’s also a time when local storms may occur, adding substantial risk to an important farming practice.

» Connect with Rural News

» Connect with Rural News

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Job hunting?

A mate of the Hound reckons outgoing special agricultural trade envoy Mike Petersen, who is due to finish his current…

Hot air?

With the Government wanting to implement huge costs on the livestock farming sector by making New Zealand the only country…

» Connect with Rural News