"We no longer have any surprises and can spend our time thinking ahead about how to make more profit."
Tony Riley believes a successful station comes down to a good plan.
And while industry savvy and hard-earned experience can never be replaced, Tony could see the value that a budgeting tool with real-time information would deliver when it came to handling his livestock movements and understanding his farm’s performance.
A new tool for the box
While Tony might know his stuff when it comes to managing a farm, he confesses that dealing with technology is a different story. He needed a solution that made it simple enough for him to input information without a lot of fuss, but also one that would provide his accountant and farm advisor with all the numbers they need to help him make the best decisions for the station.
That’s when Tony’s accountant told him about the benefits of integrating cloud-based software. It would mean that Tony could check in from the farm, and his accountant could pull up the same information wherever he was working. Tony made the call to go ahead, and hasn’t looked back.
“We now use Figured and Xero to track the farm against our original budget - and I don’t have to be a computer whizz to do it!”
No more surprises
With this new technology, Tony and his team hold a monthly online meeting to discuss what has happened during the month and, with input from his accountant, update Figured as they go.
“Everyone can see the numbers change and we can easily keep our banker and shareholders fully informed so we no longer have any surprises."
"We now spend less time explaining what has happened and more time thinking ahead about how to make more profit... and that’s fun!”
Looking ahead & driving performance
Through combining Figured and Xero, Tony and his farming team can make confident investment decisions. They’re already seeing tangible returns in terms of lambs weaned, weights drafted and profit achieved.
What’s more, the accounts are taken care of with little admin time as the year progresses, giving Tony more time to get out to do what he loves. And by always having access to real-time management information, he’s now truly in the driving seat of his farm’s success.