We are taking farm financial analysis tools and turning the table - on ourselves. If our software can help you determine your row crop farm’s expected return on investment (ROI) for inputs, machinery, and labor, we believe you should be able to see the anticipated financial benefits of utilizing our farm management system.
Calculating ROI of farm management software
Historically, the challenge to understanding a farm’s return on investment has been connecting the dots each step of the way between what happens on the field level all the way to farm finances. For years, Conservis farm management software (FMS) has been changing that.
We’re giving growers the tools to integrate otherwise siloed segments of farm data. Our Cost & Profit Analytics gives growers field or crop-level profitability views. We’re applying machine integration with the equipment you’re already using, like John Deere Operations Center and Climate FieldView™ to provide real-time data so you can better manage inventory and compare plans vs. actuals.
"Your program, partnering with Climate FieldView™ and even John Deere [machine integration], really breaks that down for us and streamlines that into a report that we can print."
Measuring farm investments starts with strong value baseline
We firmly believe that you make better investment decisions regarding time, money, and energy when you can see detailed views of field-by-field, and acre-by-acre analytics. The reality is that we’re not alone in the industry. Numbers indicate that the farm management software and data analytics market is poised to crush $5 billion by 2026, with a compound annual growth rate of almost 19%. We also believe that farms see significant ROIs when they choose Conservis from this booming market - and our ROI tool demonstrates that.
True return on investment (ROI) measurement tools in farm management systems have largely been elusive.
- We gathered data from years of interviews and case studies to determine key benefits farms report in using Conservis.
- We interviewed farmers to hear their pains and gains.
- Our team developed a baseline from this market research that considers key benefits of an FMS to a grower.
We then turned to a leader in ROI calculations to translate the research into real-time assessments of values. The result is a digital tool that lets growers know the financial value of Conservis for their individual, unique operations.
Three key benefits include costs, revenue, and precision analytics
In order to evaluate opportunities for returns on FMS investment, we explored three key segments supported by the research. These are not the finite benefits, but give direction to the general expectations of utilizing a robust farm management solution.
You can’t track your profits unless you track your costs. A comprehensive FMS should empower farmers to see these three specific cost metrics.
- Improved management of inputs - with better data you have the ability to manage costs and controls around inventory.
- Match POs to receipts to payments.
- Negotiate purchases.
- Utilize controls around inventory and usage to prevent errors.
- Improved utilization of labor - gain the ability to schedule and deploy labor more efficiently and effectively.
- Specify and monitor exact work requirements with 3rd party vendors.
- Match 3rd party billing to work scheduled.
- Lower administration time (hours) - eliminate time spent performing accounting, bookkeeping, scheduling, reporting, and more.
- More easily calculate ownership splits.
- Access and transfer generational knowledge.
- Automate manual data entry with the ability upload files.
- Utilize electronic file transfers to accounting software.
"The splits are why we got into Conservis, because it took about a day and a half and a whole notebook full of chicken scratch and Conservis has been a godsend for helping with that."
We identified three contributing factors for revenue that a strong FMS tool needs to provide growers.
- Improved delivery accuracy - have tighter controls over your harvest from the field to delivery.
- Improve accuracy of grain deliveries and reduce leakage.
- Match payments to contracts and improve reconciliations.
- Improve data payment-related items such as moisture content.
- Eliminate potential adjustments in received amounts.
- Improved grain marketing access better data sets that enable you to make real-time decisions for crop marketing.
- Improve ability to contract opportunistically when the market is in your favor.
- Make real-time, reliable decisions to sell or hedge when markets adjust.
- Access accurate data and gain better prices on specific metrics or grading, organics, etc.
- Build stronger customer relationships based on your ability to make efficient marketing decisions.
- Crop insurance - give yourself the edge by collecting data for accurate filings.
- Have real-time access to reliable data when filing claims.
- Utilize data for understanding what and how to best insure.
"I would say probably over the last six years that we've used Conservis on the harvest side, I've probably saved us 30 loads of corn that went to the co-op that they didn't have any record of. It either got mistakenly linked to another farmer or another field."
3. Precision analytics
A robust FMS platform should have tools like the Conservis’ Zone Economics that enables growers to perform cost-based financial analyses of growing activities.
- Optimize profits through the improvements of inputs.
- Understand profitability of field trials to make decisions for the future.
- Track the financial benefits vs. costs for additional applications recommended by your agronomist.
“Zone Economics allows us to drill down on that even more and see where the money is best spent and where we're wasting money and chemicals and nutrients in the farm.”
Your farm. Your ROI. Your choice.
Interested in seeing what returns are waiting for your farm?