15 Jul 2020 | 08.45 am
Ifac Unveils FarmPro Planning Tool
Collaboration with Bank of Ireland
15 Jul 2020 | 08.45 am
Ifac, Ireland’s leading farming, food and agribusiness professional services firm, has launched FarmPro, billed as a next-generation digital financial management and planning service.
FarmPro leverages technology from Figured, a New Zealand based agri software company, with up to date farm accounting data, and ifac financial management expertise. The advice led technology-driven service is available exclusively to ifac clients, including those who bank with Bank of Ireland.
Chief executive John Donoghue commented: “FarmPro gives farmers clarity, confidence and control over the running of their farms. This collaboration between ifac and Bank of Ireland aims to fundamentally transform how farmers manage their financial wellbeing.
“In successive Ifac Irish Farm Reports, farmers across Ireland have expressed the same concerns – they want to know where they stand, be able to make better decisions and have more control over their finances. However many don’t have the time, the tools, or the know-how to make this happen.
“FarmPro will help farmers to achieve these aims. For the first time, farmers will have access to a precise snapshot of their farm performance using the latest on-farm data, and ifac’s expertise in budgeting, forecasting and benchmarking to help them build forward-looking plans.
“Farmers will have real insights to help run better, more profitable farms, and build more resilience into their operations, strengthening their viability and long-term sustainability.”
Eoin Lowry, Head of Agri at Bank of Ireland, added: “We strongly believe in the value of farmers accessing the most relevant data to drive decision-making, and FarmPro, leveraging Figured technology, brings this to life.
“Our on-farm research identified the challenges our shared customers faced in managing their finances, but now FarmPro provides them with an intuitive cash flow management tool, enabling easy access to the right information and ifac advice, giving farmers the confidence to make the best on-farm decisions.”
Photo (l-r): Figured CEO Dave Dodds, John Donoghue and and Michael Lauhoff, Director of Business Banking at Bank of Ireland