What Agri-banks Say
Collaboration key to financial success
Musselroe Beef is a family-run operation on 6000 hectares in the North East of Tasmania, Australia. Working closely with their accountant at ProAdvice, and rural bank manager at Commonwealth Bank, Musselroe Beef use Figured and Xero to make smart financial decisions focused on a prosperous future.
The importance of communication and collaboration around real time financial data continues to resonate with Australian banks, and we are excited to announce a partnership with leaders in the Australian agri-lending space, National Australia Bank (NAB). The partnership will see NAB initially take up 100 subscriptions to allow more of their customers across Australia to farm on the front foot.
Figured has officially announced its partnership with Farm Credit Services America (FCSAmerica), a leading provider of credit and insurance services to farmers and agribusinesses, based in Omaha Nebraska. For Figured, this partnership is a huge milestone in the emerging company’s progression, and is a significant export opportunity for a New Zealand business of this size.
Figured is pleased to announce that it has entered into a strategic partnership with Commonwealth Bank of Australia to deliver a more efficient financial management solution for Australian farmers. A pilot phase commences from December 2016 to run over the next 12 months, which will initially see 100 Commonwealth Bank agribusiness customers use Figured’s cloud-based accounting software.
Scott Wishart, National Manager - Agribusiness, BNZ
BNZ has recently taken an investment in Figured, a company that is rapidly adding value to the rural sector of New Zealand through its ability to add real time budgeting to the data feeds from Xero. We’ve been working with the team at Figured for quite some time, and it became obvious that they had a solution that could solve a number of industry and bank problems.
BNZ Partnership announcement
We’re excited to announce that Figured has entered into a strategic partnership that sees BNZ (a subsidiary of NAB Australia) acquire a cornerstone 17% shareholding. This partnership will further bolster our rapidly growing customer base, while supporting growth throughout New Zealand and Australia.
“Managing volatility is a key challenge facing farmers. This innovative system is proof that development of effective technology can help weather volatility by providing access to real time data. This in turn leads to greater confidence in decision-making and clarity in forecasting, while reducing risk and increasing on-farm productivity.”