Farmanco, Albury, NSW, Australia
Benchmarking is used widely in farm management helping managers identify key opportunities for business improvement.
The Farmanco Profit Series is a numbered benchmarking service. Each number represents a farming business. The detail of each business can be followed on each graph, enabling detailed comparisons from capital position through to machinery investment, enterprise mix, variable costs, production and profit of each enterprise.
This benchmarking service is provided via an on-line portal to all growers in Australia, and by default has worldwide implications. This has become a new layer in BIG DATA, although the output is only available to those contributing data. A key concern with benchmarking and big data is data security, which has been addressed through client facing password protection and backend encryption.
Another key concern with benchmark data is being thoroughly checked and accurate. This portal has tolerances and flags for all measures highlighting areas that may be inaccurate or need to be checked by professional staff.
The key step-change for farm managers is that this benchmarking service is accessible from a smartphone or office computer simply by contributing data into the portal. Feedback in many forms is available on an almost instantaneous basis once data is submitted.
Eric is a Farm Management consultant with 28 years experience, initially in the banking sector for 8 years as an ag advisor and for the past 20 years as a private consultant with Farmanco. Farmanco is Australia’s largest Farm Management Group providing Independent Farm Management, Agronomic and Grain Marketing advice. Farmanco has an Australia-wide adoption of benchmarking services and proprietory agronomic advice software, becoming a leader in digital technologies for Farm Management. Eric has been key in establishing new offices for Farmanco in Narrogin and Esperance in Western Australia and in 2015 established Farmanco’s first office in New South Wales at Albury. Eric has been a previous member of the IFMA congresses in 1997; 1999; 2002; and treasurer for the IFMA congress in Perth, Western Australia in 2003. His passion is agriculture and he enjoys flying and playing field hockey. Eric & Trish have three adult children.