John Deere launches ‘Harvest Profit’ to improve financial smarts

Farmers across Australia and New Zealand can now access a new one-stop software program called ‘Harvest Profit’ to assist with more savvy financial management and day-to-day business decisions.

Introduced locally by John Deere following a successful decade in America, the cost and profit tracking software platform offers near-real time profitability monitoring across crops and fields.

Harvest Profit can be integrated with the John Deere Operations Centre and includes tools such as grain inventories and financial reports to quickly show farmers how their businesses are performing.

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“Harvest Profit uses multiple scenarios and templates and intuitive integration with Operations Center to provide clear insights into costs, revenues and profits, so that farmers can make data-driven financial decisions,” said John Deere Manager of Production System Specialists, Max Cusack.

“Harvest Profit can provide the answers to questions such as what’s my cost of production? What’s my profitability for each field? If I plant more of a certain crop, how does that impact my profitability and overheads? How much production have I sold and how much crop inventory do I have on hand?

“Farmers in Australia and New Zealand are seeking to gain every efficiency possible to improve financial outcomes, and Harvest Profit is the key to calculating those metrics.”

Harvest Profit includes features such as total farm profit and loss; field by field and crop by crop P&L; grain contract management; machine data such as hours, usage and cost of farm equipment; scenarios analysis; and grain inventory management.

“In the US, farmers rely on Harvest Profit as a tool to help them make decisions as diverse as an equipment purchase, land acquisition or whether to apply another pass of fertiliser,” said Ben Longlet, John Deere Digital Specialist - Harvest Profit.

“While most farmers don’t spend more than an hour per month working on their Harvest Profit account, they are usually checking the data and reports daily through its web and mobile apps.

“This strong integration makes is easy to add financials to the data you’re already collecting on the farm, and unlike other tools that focus on the past, Harvest Profit enables farmers to analyse profitability so they can confidently create budgets for the coming season.”

John Deere is offering a 14-day free trial of Harvest Profit with full access. Click here for more information.