Xero, Figured create cloud accounting

platform. It works hand in hand with cloud accounting software, Xero, to deliver immediate farm production and financial data.

CooperAitken software manager Megan Shannon says offline farm accounting systems have accountants, banks and farmers all working off separate ledgers, and therefore looking at completely different sets of numbers in many instances.

‘‘In a world of data-sharing and connections, working in isolation like this no longer makes sense. Having seen the success granted to commercial business owners using ‘same page’ software, it’s no surprise that farmers are looking for a better way to collaborate with their accountant, banker and farm consultant’’, she says.

The collaborative approach that Figured provides is proving critical to helping more farmers to confidently weather the volatility of the industry and drive the success of their operations with the help of trusted advisors.

When armed with accurate financial information, farmers are empowered to make better and faster decisions when opportunities arise, and ultimately achieve higher levels of performance and profit.

Figured senior relationship manager Neil Landers says because Figured is cloud-based, everyone can access the data and make instant updates. It offers a rolling forecast, and the ability to re-calculate the farm’s financial position when conditions change.

Shannon says the demonstration was well received and very informative, however she says it’s important to remember that there are many different options available and you must find the right solution to fit for you and your business.

‘‘In an industry with constantly changing conditions, having this connectivity makes a huge impact.’’