Bringing the farmer, accountant and advisor together,
like a well-oiled machine
With a raft of changes coming to the UK agri industry, see how Figured is helping farmers and advisors, like Ceres Rural and Avant Advisory, easily collaborate on the same set of financial data to make informed business decisions & confidently plan for the future.
Transcript
[Tom FitzGerald] Figured is the farm financial management tool that works hand-in-hand with accountancy software, Xero. By utilizing Figured’s budgeting and forecasting tools, farmers can more precisely plan for the future. There are a whole raft of changes coming up on UK farms at the moment and this gives farmers clarity and confidence to plan for the future.
The main benefits of working with Figured and the advisors around the farm are that everyone is collaborating on one set of information, whether that's analyzing past performance, utilizing the actuals and allocating those to the enterprise on the farm, or whether that's using that information to forecast for the future, everyone is around the same set of information at all times.
[Charles Garrard] Forecasting in Figured is incredibly easy. We can take actuals from Xero from previous years and build them into budgets and forecast going forward. That saves a lot of time and it's incredibly efficient.
[Shaun Spalding] When you're looking at the Figured information, you can do that with real confidence. That's because Figured and Xero are fully integrated. So you know that the Figured information fully stacks up with the financial information. There's not two sets of books or information in the spreadsheet, like in the old days.
[Tom FitzGerald] So Figured works for the full range of farm types seen in the UK. So we cover mixed farming, arable farming, dairy farming, beef and sheep, as well as all the other different types of livestock enterprises. What's really unique is that we can also split files depending on some of the diversified enterprises as well. So no matter what businesses you have or enterprises you have on your farm, those are all fully represented.
[Charles Garrard] We're about to enter a period of quite rapid change within the UK agricultural area. Farmers, obviously facing losses from the direct subsidies. So they're looking at non-traditional routes of income and forms of income, especially in diversification areas.
[Shaun Spalding] As you expand into other things - farm cafes, property, weddings, you have the property that you're letting out - you'll find there are specialist apps for that. Those specialist apps bolt into Xero and back out to Figured if you wish. So again, you can expand or contract with your business and it all runs together like a well-oiled machine.
[Charles Garrard] So we can create a scenario where we can run this through Figured quite quickly and often with a farmer there and the advisor there, so it can be done in an instant at our fingertips, rather than going away and coming back for another meeting, two weeks later, we can just run it there around the table.
[Tom FitzGerald] Figured has been operational in UK since 2017, working with a range of farmers and partners across the UK and Ireland. We also have teams across the world who would support our users at any time of the day. For more information on how to get started with the Figured, just follow the link on the screen.
