Farmers around the globe are regularly required to make important decisions that will affect the business’s bottom line. One of the recurring decisions is “Where am I best to use my harvested crops?” The opportunity cost of putting production towards one use over another needs to be constantly assessed, and planned usage may need to change over the course of a season.
Figured’s integration with DTN brings forth a real-time pulse on the agri-industry by delivering current market price values for your team.
At Figured, we’ve been working alongside arable farmers and their advisers for some time now, and in that time we’ve seen the same challenging processes year after year - with accountants spending hours attempting to reconcile sales and inputs against various crops, and struggling to calculate income across multiple financial years when the harvest year doesn’t align. Recognising this, we set about building a new cropping experience that would allow the whole farming team to collaborate and contribute to both Figured and Xero, and tie all the information together in one easy to understand tool.
Model out the long term financial impact of major decisions or changes in your business with Figured Scenarios.
Figured empowers farmers to run their farm like a business all while building their resilience to frequent commodity fluctuations.
When you use Figured for your planning, you’ll have your client’s live accounting data hooked directly into the same place that their Annual Plan lives. This creates a single source of truth for all management reports and plans, so that any time you look at a report in Figured you’ll know that this is the current plan that they’re working to.
Let’s be honest. To most farmers interpreting a balance sheet is a dark art, especially when it comes to relating balance sheet sheet decisions to the real world that they operate in on a day to day basis. If I invest in this today what effect will it have on my equity over time? I have this capital cost coming at me, how will I fund it and what impact will it have on the value of my business? Up until now these questions have been difficult to model and answer with any confidence.
We’re constantly working on our product to give you the simplest and fastest experience at tax compliance, so that you can focus on the more important stuff such as advisory.