Farming: A technology business

New Zealand farmers are some of the country's earliest adopters of new technology trends and modern infrastructure, giving them an edge in global markets says accounting software provider MYOB.

The tech business is the largest provider of accounting software services to the rural sector and has been involved with New Zealand's rural-based businesses for more than two decades. During that time, it has seen the growing importance of technology to the rural economy and says the pace of change is set to increase – meaning farmers will need to be open to new ways of doing things.

"MYOB is focused on giving rural based businesses the next generation of tech tools to help them achieve greater levels of productivity and profitability. Our software solutions are there to simplify business management, so rural business owners can focus on the things that matter," says NZ General Manager Carolyn Luey.

MYOB NZ General Manager Carolyn Luey.

"It's never too late to think about how technology can help your business succeed."

That's evidenced in 92-year-old Hawkes Bay farmer Alistair White who professes a fascination in the technology driving on farm performance.

"Computers are just amazing. Push a button, and there's the question answered. So much easier to follow where your money is."

BWR Accountants Craig Riddiford looks after the books for White's farm and says the technology has changed how he works with rural clients.

"It's gone from just accounting for what's happened in the past to providing information to make decisions, based on accurate up-to-date information.

"With cloud-based software, we're working more in real time. We've got access to the information immediately," says Mr Riddiford.

That sentiment is reflected in the latest MYOB Business Monitor survey of rural-based business owners that finds connectivity is rated by 28 percent as the top tech trend most likely to impact their business in the coming decade. This was followed by use of drones (20 percent) automation/robotics (18 percent).

"These devices and systems have made today's farmers far more capable and proficient than before, and have encouraged further investment in research, development and tech-based infrastructure," says Ms Luey.

MYOB is stepping up its investment in areas like artificial intelligence, to help provide deeper insights into how businesses are performing, something Luey says will have a huge impact on the rural sector. It is also introducing new agricultural-focused functionality that allows cloud-based tracking of specific on-farm quantities such as changes in stock levels, amount of milk sold, weight of grain and wool produced – giving farmers a deeper understanding of their business performance.

Click here see how MYOB's business management software can help your rural business.

- The above article is supplied by MYOB as part of a collaborative partnership alongside NZME on the Agri-Business and primary industries sector.