Blog

We’re thrilled to announce the launch of Agstute - the new service from Promar, powered by Figured and Xero. This partnership will see Figured form a key element of the technology to support Promar who provide leading advice and data services to over 1,000 clients across the UK.

As the agricultural sector faces a period of funding transition and change, many landowners will be looking much more closely around different options for their farming businesses. As the ELM funding programmes crystalise, there will be some opportunities but also a funding shortfall to work through for many.

Our vision is to be agriculture's leading global financial management technology, driving the business of farming. To support that vision, we focus on partnering with organisations who share our view for the future of improving financial agri-management through technology. 

What a massive Wednesday evening for Figured! Now the dust has settled we can reflect on the award and thank those who have helped us along the way. It's a huge deal for us to win this award and to receive recognition from the Xero community, especially when the nominees were so strong in their own rights.

There has been much talk in the accounting sector of the shift from compliance task accounting (broadly, completing the year end return) through to added value ‘advisory’ accounting services. This is a story that has been well told by Xero and other cloud apps like ourselves at Figured. We know that technology is driving this through the displacement of repeatable tasks. The efficiencies come from bank feeds, automated budget reconciliation, integrations and report generation. 

It feels like an age ago when we launched Figured in London, alongside Xero and a collection of leading partners. Like any two year old, we’ve grown up fast and even with a few tumbles are getting a much clearer sense of our role and fit in this market. The last two years have seen major changes to the product, our team has grown, we’ve entered Ireland, and generally enjoyed building out great partnerships with innovation-focused accounting partners and banks in the region. More below...

The Covid-19 crisis has hit the UK economy in ways that a short while ago would seem far fetched. We have all seen the impacts this has had on many sectors and people. The impact for the agricultural sector in the immediate term is varied - depending on factors such as exposure to retail versus trade channels, requirement and availability of labour on farm / off farm, levels of tourism diversification and so on. Each business will have a unique set of factors to consider. 

At this time of unprecedented personal and professional challenge, the provision of accurate and accessible financial management for agriculture has never been more important. Accountants have a key role in providing business support to farmers, helping them understand how they are going to plan, react and prepare for the business impact of the Covid-19 virus. 

Figured grew out of the need to bring online reporting and real time farm financial performance to managers, shareholders and stakeholders who are part of the ‘farming team’. The farming team includes the farmer, the accountant, the banker and the consultant. As we’ve progressed, we’ve found that the Figured product has been supporting more & more complex farming operations across the world.