As a pig farmer in Tasmania, as well as an experienced rural accounting specialist, Lynette Broomby is well-placed to understand the needs of Australian farmers when it comes to managing the financial side of their business.
Which is why she took her time to research and evaluate the right financial tools for the agriculture sector before deciding on which particular providers to partner with.
And while Figured is a new player to the Australian market, Lynette could see the benefits that the farm accounting software would bring to her clients at FJB Accounting Solutions, and thus became the first Australia-based accountant to complete certification as a Figured Adviser!
Hats off to FJB Accounting Solutions!
While our number of partners across Australia is quickly on the rise, we wanted to acknowledge Lynette for leading the charge in bringing Figured to Aussie farmers, and recognise her eagerness to embrace innovative rural accounting tools in her practice.
FJB Accounting Solutions was established two years ago to give farmers and small-medium businesses access to the skills of an experienced Chief Financial Officer, without the expense that usually goes along with hiring one full time. Lynette brings with her extensive experience working in multinational companies, and a strong background in both the agriculture and manufacturing industries - so she knows what’s what when it comes to rural accounting!
“We know that it’s still early days, but we can clearly see where the software is headed, which is why we’ve partnered with Figured and Xero as the preferred financial solution for our clients in the agriculture industry”, says Lynette.
“The ability to have access to meaningful, real-time data in Figured and Xero allows us to help our clients make better decisions that directly affect the success of their business, and that’s invaluable.”
Helping farmers sleep soundly
Lynette acknowledges that volatile weather conditions in Australia over the last couple of years have seen many farmers lose sleep over the figures sitting in their bank account. Which is why she believes one of the greatest benefits that Figured can deliver to her customers is the ability to better manage cashflow. “It allows farmers to see forward, not just backwards, meaning they’re in a better position to navigate those peaks and troughs that come with farming.”
“Basically, we’re able to help farmers sleep better at night! They have greater clarity around their current financial position and can feel more confidence in their decision making”, explains Lynette.
Financial management made easy
In general, Lynette finds that her rural customers are actually quick adopters when it comes to new technology, but concern around the time and effort to convert to a new system is often what stands in their way.
However, once they’ve seen the simple interface for livestock or crop management, Lynette says her customers have been impressed by the efficiencies that Figured can deliver in the long run.
“It can sometimes take a few conversations to get them across the line, but through demonstrating that they’ll have a better understanding where they’re going to end up, they quickly see the value in a new system”, Lynette explains.
Boosting business with rural customers
When it comes to running her own business, Figured and Xero gives Lynette the opportunity to strengthen her role as a business adviser.
“Compliance will always be a part of financially managing your business, but with tools like Figured we can move towards a greater advisory role, focusing instead on budgeting, forecasting and strategic planning. We can sit down with clients and ask ‘how is this decision going to affect the farm’s success but in the short and long-term?’”
“It also means greater admin efficiencies. I can be on site with them and tell them exactly what their end of year numbers look like, whereas previously, I would have to go back to the office to crunch the numbers. It means we’re able to make more timely decisions because we have real-time information at hand.”
Are you our next Australian Adviser?
We’re excited to have kicked things off with FJB Accounting Solutions, and we're now partnering with more rural accounting practices across all states. In working alongside our partners, we’re continuing to gain even greater understanding of the needs of Australian farmers. If you want to find out more about partnering with Figured, send us a message to chat further.