AUSTRALIA – An online tool enabling farms to compare profit performance has been praised by a New South Wales farmer.
DairyBase, released in May, measures and compares farm businesses and, according to developers Dairy Australia, is an “essential tool” for farms pushing for profit.
David Binney, who farms at Kyogle, noted the speed and ease at which DairyBase worked for his 350 cow business.
“It took me 45 minutes to an hour to input all the information,” said Mr Binney. “All I needed was the yearly financials from the accountant and a 12 month summary from my processor and then you are provided instantly with the analysis on your farm.
“I have done other financial analysis programs before but what I liked about Dairybase was how easy it was to input the data and then get the analysis.”
When compared to other similar low-cost pasture systems in the area, Mr Binney said he was happy with how his farm compared.
According to Dairy Australia, DairyBase helps farmers to:
- Compare their own farm business over time
- Identify opportunities to drive profit and reduce risk
- Make more informed business decisions
- Generate comparisons according to farm size, region and production system
- Create annual reports and forecasts
TheCattleSite News Desk