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The two combine to deliver a comprehensive accounting and production tracking system for the farming sector.
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MYOB and Figured launch agribusiness integration
16 November 2022
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MYOB and farm financial management software company Figured have partnered to provide an integrated platform for agricultural businesses.
The unified platform would enable accounting firms to use MYOB to support livestock and crop producers through access to Figured’s production tracking, budget, and forecasting tools, said company said.
“Agriculture plays a crucial role in the lives of all Australians, as well as the economy, representing 12 per cent of goods and services exported in 2020–21,” said Kim Clarke, general manager of enterprise at MYOB.
“We know agriculture businesses were heavily impacted by COVID-19, and that inflationary and supply chain constraints will continue to drive concern across the industry. This is where agribusinesses have come to rely on their advisers to help them steer the ship, make informed decisions and pivot at pace when needed.”
“Enabling MYOB and Figured’s deeply integrated solution, along with the added value businesses receive from their trusted advisers, will help the farming community take a longer term view of their entire business, support strategic decision-making and drive further success.”
CEO of Figured Dave Dodds said the integration would support the farming community.
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“We know that farmers are more successful when working with a strong professional advisory team, backed by accurate real-time data. This integration will ensure more farmers and their advisers are getting the benefit of Figured, underpinned by real-time data from MYOB,” he said.
“It allows the entire farming team, from farmers and their advisers, accountants and bookkeepers, and rural bankers, to access the agricultural compliance and advisory tools they need to support better business decision making.”
“We’ve seen cloud adoption rapidly extend from the urban to rural sector and we see our partnership with MYOB can be a significant part of this change. We are excited to see what this partnership can do for Australian rural businesses.”
The integration of Figured into the MYOB platform in Australia will be available in early 2023, when the agriculture software system will span compliance, advisory, and business intelligence, said the firms.
Figured is a farm financial management software used by over 30,000 farms across the US, UK, New Zealand, and Australia.
MYOB is a business management platform that provides end-to-end business, financial, and accounting software for companies employing up to 1,000 staff, alongside a network of accountants, bookkeepers, and consultants.
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