New online tool to assist farmers as end of financial year approaches

Dairy Australia has released a new online tool to assist dairy farmers in assessing their farm profitability, just in time for the end of the financial year.

The Farm Business Snapshot allows farmers to do business profitability assessments anywhere, anytime, on a device of their choice. It will show the overall cash and profit position of the business and enable farmers to assess these as a measure of efficiency against their key inputs. Registered users will also be able to make comparisons against regional benchmark data and utilise the traffic light feature to assess the position of their business.

Helen Quinn, Dairy Australia’s Lead – Farm Business Data said: “Benchmarking your own farm year on year is the best way to review your business. The Farm Business Snapshot enables you to determine the strengths and weaknesses of the business and identify opportunities to increase profit and manage risk.”

The Farm Business Snapshot provides an analysis of the historical performance of a dairy farm business, helping you to better understand production costs and overall profitability. The reports will provide additional information to support the decision-making process and enable farmers to take actions in their business that best suit their needs.

“The Farm Business Snapshot is a great first step on your farm business journey, and the upcoming end of financial year period is an ideal time to try it out,” Ms Quinn said.

“You can also build on the information generated by utilising some of Dairy Australia’s other tools including DairyBase.’’

To sign up for the Farm Business Snapshot tool, visit dairyaustralia.com.au/FBS

For a more comprehensive analysis of your farm business performance, visit dairyaustralia.com.au/dairybase

This project is supported by the Department of Agriculture, through funding from the Australian
Government.

Join our webinar

A webinar on the Farm Business Snapshot tool will be held on Monday 28 June at noon. To register, visit dairyaustralia.com.au/FBS