One of our objectives this year was to make some progress on Xero for Farming. Today we’re releasing a Farming Integration guide that provides a blueprint for seamless farming and accounting software. We have a number of providers with solutions in progress.
Farm solutions have traditionally included farm management and accounting. They are also traditionally disconnected from other software. The farmer works away on forecasts, livestock and fertilizer planning on their software while the accountant in town often processes bank transactions from the bank statements – the same work being done twice.
We’re solving this problem by helping farm solution providers use our API to connect the farm management side of their business to accounting in Xero. Here’s our thinking:
If you’re an accountant with farming clients, or if you develop farming solutions, you can see the detail behind this diagram along with a roadmap in our farming integration guide.
If you work in or around the farming industry, here’s what these connections mean for you:
- Fully-integrated solution for managing your farm(s)
- Real-time, accurate farming and business information online
- Reduced compliance costs
- Easily share information and collaborate with key stakeholders: financial advisors, banks, off-farm shareholders, rural advisors
- Power of Xero for the farming sector: direct bank feeds, multi-user, expense management, access from anywhere on any device
- Many rural feeds and specialised farming add-ons coming available to ease the collection or input of farm data
- A platform for ongoing innovation that will unlock investment from numerous new technology suppliers
- In time access to rural benchmarking information
For accountants and rural advisors
- Efficient basic farm compliance for all rural clients from shoebox up to corporate farms
- Better collaboration with clients
- Greater farm performance reporting
- Significantly reduced costs to serve
For farming solution providers
- Platform allows providers to focus on what they are passionate about: improving farm performance
- Access to Xero’s channels to market, especially the accountants’ network
- Platform for integrated multi-vendor solutions that integrate for access to real-time financial data
- Benefit from the network effectives of the small business cloud ecosystem
- Cost savings by providing at scale EDI for invoicing and ordering
- Loyalty opportunities
- New payment opportunities
- Better connections with rural customers
- Accurate and real time information to assist with lending management
- Ability to more cost effectively work alongside farming customers and provider more frequent advice
“We are excited to have built great software so Xero can do great things for farmers and their advisors. The product is in beta testing and we are looking forward to unveiling it at Xerocon in February” Andrew Watters, Director, MyFarm
“Our online strategy is all about making the sharing of data a natural part of our applications to ensure farmers and accountants don’t have to enter data twice. The development path XERO has outlined shows great promise for simplifying the process.” Brian Eccles, Director, Cashmanager RURAL
We’re aiming to demo and launch farming Add-on partners who are ready to go live at Xerocon NZ in February.
Thank you to the teams at BDO, CRS, Ballance, MyFarm, FarmIQ, Winstanley Kerridge and numerous other Xero partners for helping us pull this together.
Agribusiness is a key sector in all Xero markets, so we are excited to finally be a part of helping the sector grow. If you want to know more, get in touch at email@example.com.