New accounting and farm management software platform, Figured, launches to UK market

Figured, a leading product in Australia, New Zealand and the USA, is now available in the UK.

The skill-set for British farming is changing, guests were told at the UK launch of Figured, a real-time accountancy software package that for the first-time, will enable the whole farm team to focus on profitability ahead of production.

Independent economic analyst Séan Rickard addressed delegates during the official UK launch of Figured at Rise London, in Shoreditch, on Thursday 28th June, explaining that British farming needs to be more efficient and automated systems must be integrated into supply chains to guarantee future success.

“This is both in terms of agri-biotechnology, but also precision, or digital farming,” explained Mr. Rickard. “In both cases, farmers will be reliant on data, being able to process data quickly, and acting on this data in real-time.”

This, he believes, is where Figured adds value to the UK farming sector, having been successfully introduced into the New Zealand market some four and a half years ago, and subsequently launched into Australia and the USA.

“Farmers must start to plan, especially in the light of Brexit and Making Tax Digital,” explains David Kirby, Figured’s UK and Ireland managing director. “Farming is changing, and becoming more of a business, with producers, alongside their accountants and advisors needing to rely more on data to be able to make the right decisions. Farmers should be using the latest proven technology to do this.”

Enabling farmers to have an up-to-date view of their farm financial position, with minimal effort, Figured uses the latest technology to take automatic feeds from the bank account to update current, and forecast future, financial positions for the year. It enables farmers to accurately see the impact of changes to, for example, milk prices, or cost variances, to profitability.

Figured works alongside Xero, the number one online accounting platform in the UK. It enables farmers, their accountant and any other members of the farming team, including advisors and bankers, to see the same up-to-date financial data on the farm operation. This means peace of mind for the farmer, with access to the current and forecast financial position, and more efficient dealings with accountants and advisors.

The market entry will initially focus on dairy and livestock markets, and Figured has also formed a leading arable beta group of accountants and advisers to support the arable sector later in the year.

“With its UK launch Figured offers UK farmers a unique opportunity to plan better for the future, and to use the leading innovative package to do that” adds David. “We are continually developing the package to make sure it fits the growing need for tomorrow’s professional farmer. Talk to your accountant about Figured, and see figured.com for more information.”

 

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About The Author

Deputy editor of Agronomist and Arable Farmer as well as responsibility for the Agronomist and Arable Farmer and Farm Business websites. After 17 years milking cows on the family farm John started writing about agriculture in 1998 and has since written for a variety of publications and has developed a wide circle of contacts within the industry. When not working John is a season ticket holder at Stoke City and also of late has become a fitness freak, listing cycling, swimming and walking as his exercises of choice.