Cloud-based technology keeps records afloat
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This will enable farmers and their accountants, banks and rural service companies to work together from the same set of online, real-time data – one centralised home for key accounting and farm management tools.
“By working together from the same set of data, the accounting role becomes less about compliance, and more about exploring opportunities for greater profitability,” says Ben Richmond, who leads Xero’s rural strategy.
Key farming software partner Figured’s farming-specific tools complement Xero’s accounting expertise.
“With seamless information between all parties and no need to transfer data, everyone’s focus is on adding value rather than gathering information,” says Duncan Anderson, project director.
“Just as you don’t need a tractor for every implement in the shed, Figured means you no longer need separate ‘engines’ for financial management. It can now all be done using our complete livestock reporting and farm budgeting tools.
“Ultimately, this means better teamwork between farmer and accountant, better organisation, better decision-making and better farming.”
PGG Wrightson is also involved, says Shannon Galloway, PGG general manager marketing.
“Our relationship with Xero provides opportunities to help simplify and speed up the monthly accounting process.”
Other farming software partners include iAgri and Aghub whose online farm management software is now being integrated with Farming in the Cloud.
“This product allows greater oversight of cashflow management and makes forecasting simpler,” Richmond says.
“It also allows for greater collaboration with such as accountants and banks, so they can act as true rural advisors – monitoring farm performance, providing relevant, real-time financial advice and working together for best results.”
Xero is working with Vodafone to launch Farming in the Cloud. Vodafone is the contractor for the Government’s five year Rural Broadband Initiative (RBI), giving greater coverage and better speeds in rural areas. Three years on, the RBI has covered 180,000 of the 250,000 targeted addresses.
