FARM FINANCIAL ANALYSIS
ifarma-ffa is a tool for the individual or family run farm owners, to make informed decisions related to financial management of their business, taking into account cost and profitability analysis.
Now, the farm financial analysis is... at your fingertips.
Farm Logs
Farming is a complex endeavor and involves many factors and inputs: land cost, rentals, labor work, expensive machines and various tools, fertilizers, pesticides, irrigation. For most farms, farm activities are not properly logged at least not in a systematic and analytic way so that cost analysis can be later performed to find out critical cost factors what could be avoided in order to minimize costs and maximize productivity.
Affordable Tool
ifarma-ffa provides farmers with a simple and affordable tool to log activities and calculate costs, plan ahead and make informed decisions on what crop to plant, what farming activities to execute and what inputs to use, based not only crop and farming requirements but also based on financial (cost and revenue) considerations.
Smart Calculation Method
ifarma-ffa provides a smart calculation method, using standard/typical cost parameters, in order to provide cost and profitability analysis approximations when no complete or accurate data logs are maintained for the farm.
PROJECT DESCRIPTION
Market and problem
- 13.7 million farmers with an average farm size of about 12 hectares.
- Small – individual or family based farms, especially in the South.
- Need low-cost, affordable tools for financial management of their business.
- No detailed records – need good enough approximation for costs.
Phases
The project has 2 phases:
- App prototype development, March to August 2015.
- Testing, Validation and Business plan development, September 2015 to May 2016
Our solution: ifarma-ffa
- ifarma as the backend system to perform financial analyses:
- Profitability Analysis.
- Input Cost Analysis (per Farm/Crop/Field).
- Farm Financial Analysis (FFA) App/Dashboard on FiSpace.
- Message-based communication between App and backend.
- Allow 3rd party FMIS’s to connect.
- Provide and use ‘Default’ (typical) Cost values for farm activities and inputs.
Fund
ifarma-ffa development is funded by the SmartAgrifood Fiware Accelerator under the joint call with the ICT-AGRI.
PROJECT ARCHITECTURE
PARTNERSHIP
Agrostis Ltd, a Greek SME specialized in the development of IT solutions for the Agricultural sector.
- Greek Startup
- Established late 2012
- Vision: Provide Quality and Affordable Information Technology and automation solutions for the Agricultural sector.
Dr. Athanasios Sapounas, Co-Founder, CEO
Agriculture Engineering PhD
20+ year experience as Agronomist
Vangelis Vassiliadis, Co-Founder, CTO
Electrical Engineering, MSc in IT
25 years experience in IT development and IT PM
ifarma - Farm Management App
It is the core product of Agrostis, an integrated mobile and cloud collaboration solution for farmers, farmers’ groups and their agronomists.
University of Hohenheim, Institute of Agricultural Engineering
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