By Heather Gieseke
Like many U.S. farms, your office might be the slowest part of your operation to modernize. In fact, the most common accounting software used by farmers is from the 1990s. How many of your farm implements are you still using from that time?
Today’s office technology can upgrade your work routine from data-entry tasks to more analytical and cost-control activities, but many farms aren’t keeping up.
“Most farmers have amazing technology in their tractors and trucks,” says Bill Hoover, Pinion’s business development manager. “They have sophisticated ways of collecting data in the field. They can look on their phones and see where their equipment is 24/7, but they haven’t thought about adopting technology in their office.”
From Office to Data Warehouse
Those who do, however, are finding big benefits. Their offices are becoming data warehouses that generate production analytics in near real time. Building a “tech stack,” or multiple integrated software systems, they use automation and standardization to reduce much of the data-entry work in the office. Artificial intelligence (AI) technology is categorizing accounts payable, commodity transactions and deliveries, bank transactions and reconciliation. This reduces errors across financial reporting, expense management, payroll and tax compliance. Imagine approving contracts and invoices while you wait for your child’s soccer match to start.
In the process, progressive farmers are bridging the divide between data and decisions. They can see both granular detail and the big picture. What crops are performing best? What expenses should they focus on? What is the best market logistically for fall grain deliveries? They’re streamlining, categorizing and improving financial understanding. In the process, they’re saving time and money that can be used for higher-value activities on the farm, Hoover says.
“If your operation has grown, and you are still trying to run a 12,000-acre farm on a 3,000-acre system, you need better optimization in your office,” says Judah Cofer, Pinion business leader. “With an automated and more powerful office, you can have information that can really change the game for you.”
Where Do You Start?
Add up how much time you’re actually spending on your bookkeeping process. As you research and evaluate the components of your tech stack, visualize that you are hiring a new employee who will provide data entry, timely reporting and powerful analytics — and who will work 24/7 with no lunch breaks. Then try to visualize how you or your employees could benefit from spending that time elsewhere. This is your new budget for improved office software. Happy shopping!
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