ASB has announced a new partnership with Figured, a Kiwi company offering a cloud-based farm management system including real time livestock and production tracking, budgeting and forecasting solution designed specifically for farmers.
“The partnership, based on a recent trial, will see our two companies work together to provide farmers with the tools and services to enable savvy financial management through the use of cloud-based technology,” says Mark Heer, ASB’s General Manager of Rural.
Figured works by tracking a range of data from livestock transactions to income and expenses, even an automatic Fonterra milk price tracker, on a single cloud-based platform. Figured’s innovative system works hand-in-hand with Xero, featuring a direct transaction feed from ASB’s Business banking accounts.
As part of this partnership, ASB, jointly with Kelly and Bryant, an accounting firm in Te Awamutu, have committed to providing their joint customers with Figured and Xero to trial for a year.
“Figured’s cloud-based system means all members of your farming team can access all key figures across a single ledger, making it valuable as a collaboration tool and for managing cashflow with greater effectiveness,” says Mr Heer.
“Managing volatility is a key challenge facing farmers. This innovative system is proof that development of effective technology can help weather volatility by providing access to real time data. This in turn leads to greater confidence in decision-making and clarity in forecasting, while reducing risk and increasing on-farm productivity.”