Farmcaster calculates 19 different ratios and metrics and presents them in easy-to-understand chart format. Users can see visual trendlines, compare their performance to targets, industry standards, and forecast and scenario projections. Each ratio comes with a description to help the user with their analysis.
Forecasting and Projecting
Understanding where your farm’s financial performance is heading is important. Forecasting establishes an unbiased look ahead. Then users can run ‘what-if’ scenarios in addition to the forecasts to gain even more context for big decisions.
Reporting and Collaboration
Farmcaster delivers easy-to-read reports and visuals. Farmers use these reports to share plans with lenders, partners, accountants, non-farming family members, and other stakeholders as they see fit. Trusted advisors and stakeholders can be granted access to your farm’s Farmcaster account.
Cash Flow Management
Margins are tightening across all sectors of today’s farming industry. Stay on top of your cash flow to manage through tight months. The more time you have to prepare for those tight months, the better. Use Farmcaster’s cash flow tool to integrate production plans, sales, and expenses and determine your cash position and needs for the upcoming year. The program also summarizes the information into projected income statements and net worth statements.
Evaluating your farm’s performance against its own past performance is the best benchmark out there. Seeing if trendlines are going up or down is the first step in establishing your own internal targets. In order for you to stay competitive, it’s also important to know how you compare to industry standards and to other farms in Farmcaster. Comparisons to average farm performance and to top-farm performance adds valuable content for you to evaluate your farm’s position relative to your peers.
Farmcaster has up-to-date SSL (Secure Socket Layer) certificates. This ensures a secure connection from your web browser to the Farmcaster server. We recommend always having an up-to-date web browser.
You own your data in Farmcaster – we do not sell your data to anyone. You can elect to give others access to your data, your farm management consultant for example uses your data, is to aggregate multiple farms’ data to calculate benchmarks. The terms of this data use are defined in the User License Agreement.
Accounting Software (GIFI Code) Compatibility
Upload your historical financial data quickly and easily using the GIFI Code API. Many accountants prepare their financial statements using software programs (such as Caseware, CCH Central, etc.) that store financial data linked to Canada Revenue Agency GIFI (General Index of Financial Information) codes. Since these codes are standardized, Farmcaster is able to ‘read’ them and import them into the program. Our support team will work with you or your accountant to quickly upload your information in Farmcaster.
AgExpert + Farmcaster
Upload your historical financial data quickly and easily using the AgExpert API. No need to key in five years of financial information yourself, our support team will work with you to quickly upload your information into Farmcaster