By David Kirby, Executive Vice President, Europe & Americas
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.
Our vision is to be agriculture's leading global financial management technology, driving the business of farming. To support that vision, we try to focus on partnering with organisations who share our view for the future of improving global agriculture through technology.
With that in mind, Figured are proud to once again be partnering with the Institute of Chartered Accountants in England and Wales (ICAEW) to sponsor the Farming and Rural Business Community. ICAEW provide expert guidance, development, and support to over 150,000 chartered accountants worldwide, and have an extensive network of professionals in the agri-sector who share their knowledge and expertise amongst their members. ICAEW focus on the future development and support of chartered accountants around the globe, so we are proud to be driving the awareness of the importance of agritech alongside them.
We supported the same ICAEW group in 2019, and we’ve enjoyed hearing their stories and learning about the challenges and opportunities they faced due to Brexit, MTD, environmental sustainability and agri-tech advancements. The agri sector saw plenty of change accompanied by much uncertainty about the future, and with the potential fallout from Brexit still to be realised, and the impact of new variables such as Covid-19, the coming year is shaping up to be no different.
Figured has been invited to sponsor the Farming and Rural Business Community in 2020. We are excited to once again be telling our story to the market alongside ICAEW, as Figured continues to grow as a company, both in the UK, Ireland and internationally. And while there are potentially daunting challenges ahead for agriculture, we also see these as opportunities to provide value to farmers and accountants through collaboration and the efficiencies and insights that Figured is capable of providing.
The product has evolved a great deal in the past 12 months, and continues to improve at a rapid rate, with updates on a daily basis. We have made some massive changes to the way we handle budgeting and planning, and our new cropping tool has given us the capacity to add real value to the arable industry. Figured has evolved in other areas too - we have expanded the in-market UK team, we now have a full headcount of developers at HQ, we have made many valuable new partners in the industry, and have opened up previously unexplored channels. We are excited for the future, 2020 is looking like an interesting year!
From our perspective, it’s great to see key industry organisations, such as ICAEW, recognising the need for farming businesses to embrace technology like Figured to improve profitability and general performance. We are pushing a cultural shift towards profitability over production, and the only way to do so is through empowering trusted advisers like accountants, bookkeepers, and consultants to provide advice that farmers can use to drive on-farm decisions - and that comes from tools like Figured that give them ability to turn data into insights, and insights into advice.
Partnering with industry leaders like ICAEW not only helps Figured reach advisers who may not have had the chance to learn about us previously. In order to stick to our vision and achieve our goals, it’s important to us that we are providing real value to those in agriculture, and partnering with ICAEW continues to move us in the right direction.