In addition to the HealthCheck report, Ag Profit can provide a separate farm comparison or benchmark report, which details how an individual farm business compares with the average and top 20% profit group of similar farms within the region. This comparison report is structured similar to the Business HealthCheck report so that the comparison report readily identifies the key trends of the comparison group.
"Why is it that farms in the same region, of similar size, producing the same commodities and getting similar prices can have differences in farm profitability of over $300,000 per year? Agripath Benchmarking provides you with the answers.
Agripath provides business and technical management services to farm clients throughout Australia and internationally. The Agripath team encompasses experienced consultants who have been providing financial and technical advice to farming and grazing clients for twenty years. Office locations are Tamworth, Gunnedah, Geelong and Dalby."
"Benchmarking is an analytical tool to assess financial performance. Its value cannot be underestimated in assisting farming businesses to be efficient, viable and profitable. AK consultants have developed a system that analyses whole farm performance. We use a number of key performance indicators which particularly assess the scale and efficiency of the business. The results of the analysis are clearly articulated and readily understood."
"Do you want to improve the understanding of your farming business's financial strengths and weaknesses? AES has developed a management accounting method for developing key farm business benchmarks. Data has been collected from over 160 farms over 8 years, so there is a significant database to compare your farm’s performance (with the appropriate confidentiality). Please contact us for more information."
"We understand the role that benchmark can play in the management of an agricultural business.
Our experience in identifying what can and should be benchmarked can greatly enhance the management reporting function of your agricultural business as well assisting with the strategy of what markets you should target and how much to produce."
"Holmes Sackett benchmarks more agricultural businesses than any other firm in the eastern states. We have over 15 years worth of historical data which allows for comparison of trends over time. Recently we have combined forces with Principle Focus and Graham Lean & Associates to expand our benchmarking database. This allows more in-depth analysis of data and may allow more in-depth regional analysis.
Benchmarking brings objectivity to the analysis of performance, and identifies the strengths and weaknesses of the business. The value of benchmarking is in providing the basis for good decision making to achieve additional profit. Substantial increases in profit (>$50,000) are readily attainable."
"Both physical and financial information is used to analyse business performance throughout the production year.
Farm Business Analysis can identify areas of concern, and above average performance, to help in making adjustments to business structure. It becomes a particularly powerful tool when used over a number of years, as trends can be identified that are often obscured by seasonal spikes."
"The Monaro Farming Systems bench marking group formed in 2014 in collaboration with Tablelands Farming Systems and Sandy McEachern, Holmes & Sackett. The group is currently made up of 21 farm businesses (16 from the Monaro and 5 from the Southern Tablelands) and has a robust data set for the 13/14 financial year.
All Monaro farming entities are invited to join this group."
"The ProAdvice business benchmarking system is designed to analyse the strategic structure of your business, using key ratios to identify factors limiting your profitability and economic sustainability. Business Benchmarking gives you a greater understanding of your business, you will know exactly how it is performing, rather than making assumptions. Having this data on hand will enable you to develop strategies to improve business performance."
"Typically agricultural businesses operate in isolation with little outside input or direction.
Comparative analysis (ProfitProbe™) allows management to, firstly, recognize issues in their business and, secondly, focus on strategies to improve those issues. ProfitProbe™ remains a powerful tool for oversight management to measure business operational success by aligning Key Performance Indicators (KPI’s) with operational management."
"Annual benchmarking and performance monitoring is central to generating consistently superior returns from an investment into agriculture.
We offer a unique suite of benchmarking tools known as the SnapShot™ range. Our simple, easy to use, benchmarking tools enable both quantitative and qualitative assessment, providing valuable insights into business performance."
"For the last twenty years, Watts Price Accountants has compiled detailed analysis of profitability and performance of our Wimmera broad acre cropping farm clients though in-house Farm Benchmarking. Five Year rolling averages for 17 Key Performance Indicators (KPIs) are monitored as part of the ongoing study."