Lynette Broomby is a CPA with over 20 years of accounting experience. As a pig farmer in Tasmania, she also has a first-hand understanding of what is takes to run a successful farming business.
Since becoming Australia’s first Certified Figured Adviser in 2015, Lynette is now helping her farming clients at Synectic Group reclaim valuable time while gaining greater clarity around their finances thanks to online tools Figured and Xero.
Immediate access to data
Lynette is both a Figured Adviser and a Figured Enablement Specialist, meaning she is working with clients in a couple of ways. Some need ongoing hands-on support and guidance, others want assistance in getting set up and implementing Figured into their farming business, but have the confidence to handle most of the day-to-day tasks themselves.
Either way, Lynette says the number one benefit for her clients is more timely access to data. “From their point of view, they’re able to get access to information very quickly on a regular basis and the understanding from a financial point of view how their farm is performing, thus identifying where they may need to make some changes,” Lynette says.
Streamlined data entry
Having Figured and Xero in place to manage their finances is also making previously time-consuming data entry tasks more efficient. “It streamlines things from a stock management point of view; that has always been a really difficult process, to workout what stock is on hand every month or where stock has moved to."
"We can now use Figured in a way that has given us more clarity around stock management and we don’t have to spend so much time at the end of the month trying to reconcile those stock numbers."
With this up-to-date data all in one place, it’s much easier to provide her clients with timely advice,
“The fact that it’s more streamlined means they’re getting answers from us faster."
"When clients have a query in regards to their actual performance as against budget or forecast, all their information is there. With it all tracked, we can easily log in and see what’s going on.”
Accessibility in the cloud
The connectivity that working in the cloud affords is making it easier for Lynette to effectively work with her clients, even from a distance.
“I do have clients who I spend time with on-farm, but there are others who are not quite as easy to get to. With Figured, I’m able to still get a really good picture of how their farm is going, and can really assist them straight away from wherever I am working, rather than having to wait for a time when they can actually come into the office to see me. I can just jump onto their account and we can sort through whatever the issue might be, or have a conversation about how their cashflow is going,” she explains.
Connecting the industry
As well as introducing the soon-to-be-released improved cropping functionality to her clients, Lynette is looking forward to the opportunities that integrations with on-farm software will present for her clients. At Xerocon in September, Figured announced partnerships with two key software providers, Agworld and AgriWebb, with integrations soon to follow.
“I’m excited about the agri data ecosystem concept", says Lynette.
"Having on-farm information feeding through from other applications is going to solve some of the data entry issues that can come up."
Synectic Group is a practice based in Launceston, Tasmania. Their agribusiness specialists are available on-farm or remotely to implement both Xero and Figured.