Fonterra And Red Sky Assisting Farmers
For immediate release
June 1, 2003
Fonterra and Red Sky assisting farmers with greater financial understanding
Fonterra and Red Sky Agricultural have signed a joint venture agreement to provide a new financial performance analysis
software package to Fonterra suppliers.
The new software will enable dairy farmers to benchmark their financial performance and identify areas where they might
improve their business. "Red Sky Farm Performance Analysis collects all financial information from farmers and presents
it in a format that benchmarks each farmer against a national database," says David Beca, Managing Director for Red Sky.
"While there are other products out there that measure farm performance, they are not able to be jointly used by
farmers, accountants and consultants nor available to accept information from a number of sources, whereas this software
is able to do just that."
Fonterra's on-farm productivity technology leader Mark Leslie sees many benefits.
"Fonterra's Fencepost.com site only has milk data available to analyse at the moment. If a farmer is able to match milk
data with other physical performance data and their financial data they will be able to not only see how well they are
doing - but view the financial analysis that backs this as well," says Mr Leslie.
"Fonterra will provide access to Red Sky, and the performance analysis software is downloadable from Fencepost.com."
Additional benefits from this software include the ability to analyse future management options or development scenarios
to discuss with a business partner, accountant or consultant.
The software is already out in the market and Fonterra and Red Sky believe that the more suppliers that become a part of
this, the more beneficial it will be to everyone involved in the long term.
"The benefits of this joint venture are about Fonterra continuing to facilitate the on-farm 3% productivity gains," says
Mr Leslie.
ENDS