In this week's Ag Tech Minute, we take a look at Harvest Profit. It's a web-based farm business software that offers growers better visibility into their numbers for greater confidence i decision making.
Nick Horob: It's a profit and loss statement that changes on a daily basis, based on what's happened with futures prices, input usage on a field by field basis, how much grain they have sold, how much they have unsold, and it all flows through to this P and L statement. From there, they can do some different "what if" analysis. They can build a grain marketing plan. We want to give them better visibility into their numbers, so they can know, if I put on some more fertilizer today, how does that affect my bottom line? If I sell some more corn or soybeans or wheat today, is that profitable? One of the big features that we've seen users really gravitate towards is field by field profitability. What fields are making money, what fields are losing money? If I look at adding new fields, how does that affect my bottom line? Maybe I should let go of a couple of unproductive fields. So, really just giving them the visibility into the numbers side of the farm, to give them the confidence to kind of take control of those decisions, and be proactive instead of reactive.
Horob says they currently have about 320 Harvest Profit customers in 26 states and four provinces.
