Data is becoming as important as daylight in the farming business says accounting software provider MYOB.
"Although data doesn't make the grass grow. It's certainly important for running the business," says MYOB New Zealand General Manager Carolyn Luey.
MYOB is the largest provider of accounting software services to the rural sector, although many of its customers are still using older desktop versions. The tech giant is currently rolling out several upgrades to shift its customers to modern cloud-based online versions.
"Moving our customers to the cloud will mean they can work seamlessly with their accountant on running the operation. It streamlines compliance and transaction processing, meaning accountants and business owners can focus on the activities that drive profitability," says Carolyn Luey.
MYOB is also introducing new functionality that allows tracking of specific on-farm quantities such as changes in stock levels, amount of milk sold, weight of grain and wool produced - allowing farmers to get a deeper understanding of their business performance.
Hawkes Bay farmer Rowan Sandford is quick to take up new on-farm technologies to help him run his business.
"With farming and livestock there are core things that won't change in terms of your stock management and farm management practices.
"If you can make the process of things that are more office based a lot easier and streamlined, then in allows you to concentrate on things outside."
Sandford has a strong relationship with his accountant Michelle Monteith from BWR Accounting who shares his enthusiasm for technology.
"From my office I can see what Rowan is looking at. It makes for really quick, easy and efficient support."
Carolyn Luey agrees and says the future will be about creating ever-closer collaborative relationships between accountants and their rural clients.
"MYOB is focused on providing the technological solutions that help businesses succeed. We want to play our part in helping turn farms into tech-enabled businesses."
Click here for more information on how MYOB's technology can help your businesses grow.
- The above article is supplied by MYOB as part of a collaborative partnership alongside NZME on the Agri-Business and primary industries sector.