myFARMSMART is a clever new online tool for farmers to manage risk and assist with whole farm decision making. It generates three years forecast profit and loss and balance sheets and summarises key performance indicators. In an easy-to-use interface that simulates the individuals farm business using their own data, it calculates potential crop yields and the amount of grain or hay required to meet the energy demands of sheep for different seasonal conditions.
myFARMSMART differs to existing farm management software currently available. It is a whole farm solution underpinned by peer reviewed scientific methods. A key point of difference is how myFARMSMART uses climate scenarios to show the difference in profit for seasonal conditions. A unique scenario comparison feature means financial outcomes for different options can be compared side-by-side, such as enterprise rotation, or investment decisions like purchasing or leasing more land, or purchasing capital items. As a communications tool between family members, it is ideal for inter-generational education and succession planning or for corporate farms, a tool to use in the board room when discussing options with key stakeholders. For time-poor farmers seeking to make more informed decisions to future-proof their farm business myFARMSMART is an essential tool in the toolbox.