Using budgets and tools for effective decisions

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IT is no secret during the past 12 to 24 months, prices on commodities have run hot, generating much larger than expected revenues for many farmers across the state.

On the flip side, prices of input costs have been equally as volatile with fertilisers, sprays, feeds and machinery costs (to name a few), all hitting record high prices.

Pairing these volatile prices with the recent (and upcoming) hikes in interest rates, understandably cashflow has never been more scrutinised by bankers and the importance of accurate but flexible forecasts has never been higher.

“With a suite of different cashflow software at our fingertips, William Buck are experts in partnering your business to the appropriate package and can work with you to create a tailored forecast to help you better understand your business’s pressure points,” William Buck business advisor manager and agri specialist Daniel Proctor said.

“Having accurate forecasts which can be quickly tweaked as prices change throughout the year has proved invaluable to our clients and can provide an element of comfort when making essential business decisions.

“This can include when grain and livestock need to be sold, assessing the impact of purchasing new machinery, understanding the ability to invest in new land, or even just providing an element of comfort that the planned after-harvest getaway is still affordable.

“Cashflow is universally the highest stress point of all businesses, and with the cyclical nature of the agriculture industry, it is imperative to understand your cashflow requirements not just in the immediate future, but also for at least the next 12 to 24 months.

“Effective forecasts not only provide a level of clarity in your business decisions, but allow you to confidently pursue any growth opportunities that may arise.”

To discuss implementing a tailored forecast for your agri-business, contact Daniel Proctor on 8409 4333 or at daniel.proctor@williambuck.com.