Farm Business Snapshot
The Farm Business Snapshot provides an analysis of the historical performance of a dairy farm business, helping users to better understand their 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.
This will show the overall cash and profit position of your business and enable you to assess these as a measure of efficiency against the key inputs.
Benchmarking your own farm year on year is the best way to review your business. This enables you to determine the strengths and weaknesses of the business and identify opportunities to increase profit and manage risk. Comparing against regional benchmarks can also assist with assessing your business performance but consideration must be given to the difference in resources available to every farm.
Gippsland, Victoria based farm business consultant, Brian Gannon:
"The Farm Business Snapshot provides me with a tool to help farmers review their historical performance. It provides consistent, quality data to help farmers look at their operating cash surplus, cost of production and EBIT. The data can be entered very quickly and provides a good overview of farm performance to assist farmers when planning for the future."
Tasmania based farm business consultant Woflie Wagner:
"Farm Business Snapshot is easy to use, straightforward and self-explanatory. When I complete a farm budget, the Farm Business Snapshot tool ensures I have all the information that I need at my fingertips to enter my data into the tool easily and quickly. I can then benchmark my budget against regions and years. This allows me to sense check my budget – if I see all green lights I may be overly optimistic, alternatively if I see all red lights it could be that my budget is overly pessimistic.
Retrospectively, it's a great tool to use when reporting to farm owners on past farm performance."
For more information on the Farm Business Snapshot tool, download this factsheet or watch the video below.
If you'd like to learn more about the online business tools Dairy Australia has to offer, such as Farm Business Snapshot, join our online webinar at noon AEST on Tuesday, 28 September. You'll find out more about how to use the tools, and have the opportunity to ask questions.
You can also watch the previous Farm Business Snapshot webinar below.