The farming industry has shown great resilience in dealing with what has been one of the toughest years in a long time. With the additional challenges that Covid-19 has brought, farmers have been under increased pressure to evaluate their immediate financial situation while keeping the farm going during unpredictable circumstances.
When Covid-19 entered New Zealand, farmers had to respond quickly to ensure they could continue to operate. These included ensuring work practices were safe, hygiene standards were met and compliant with the NZ Government’s alert level requirements. They also had to deal with more stock than expected as sale yards and processing plants were either closed or had significantly reduced operations.
The industry has held strong through these tough times, and we are inspired by the resilience of farming businesses. At Xero, it has been our priority to get behind small business to help New Zealand get through the last few months.
Xero’s been involved with Fieldays since 2014 and although we are sad to be missing the physical event this year, we’re so pleased that we’re able to continue to support the agriculture industry and small businesses that serve and operate within this space via the online event.
Xero for farming
We recently launched Xero for farming, a collaboration with Figured and PaySauce to help farming teams make decisions with clarity and confidence.
It takes a team with the right tools to run a great farm. We want to equip farmers with the best technology, so they have the information they need to make decisions that will allow them to reach their business goals.
Xero, Figured and PaySauce have come together to offer a fully integrated financial solution for farm owners and operators, and their wider farming team – their accountant, banker, and consultant. Bringing together the team’s different perspectives with real-time data opens up a ‘bigger picture’ view of a farm. Having multiple minds looking at the same thing allows you to identify what’s going well, what’s not, and what needs to be done to head in the right direction. This is crucial now more than ever, to monitor your financial situation in these uncertain times.
Using the insights from the data to inform decisions is what’s going to continue to make a real difference to farming businesses.
How Xero, Figured and PaySauce can help farmers
Plan ahead with confidence
With accurate, up-to-date data from Xero, farmers and their teams can monitor financials and adjust parts of the business when farming conditions change.
Farm operators and the wider farming team including their accountant, can all input data into one place. No need to collate multiple spreadsheets and spend extra time on data entry.
Simple, easy-to-use software
Working online with cloud software means you no longer need to download documents and email them to your accountant. This way of working is easier and more efficient, with a user-friendly and intuitive experience.
Save time, get lending and get paid faster
Farmers can reduce admin, create invoices, pay bills on time, and allow customers to pay instantly. Plus, they can allow financial services access to their evidence forecasting in order to secure lending.
Ditch the paperwork and confusing calculations with an accurate and efficient payroll system. Employers can run digital timesheets, minimum wage top-ups, automated payments and Inland Revenue filing.
This solution also gives farmers peace of mind knowing that HR compliance and regulatory requirements are met. Xero, Figured and PaySauce want to help farmers create a more sustainable, profitable business that they can pass on to future generations.
For rural accountants, Xero for farming enables them to become a valued contributor to the farmer’s business decisions. Giving advisors data to drive proactive conversations with their farming clients, it means there is less talk about the numbers and more about meeting their strategic objectives.
Run your farm with the ultimate partnership.