Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Farm Budget Planning Goes Hi-Tech With ANZ

Tuesday 16 April 2002

Financial planning just got that much easier for farmers thanks to the ANZ. The Bank has developed a suite of free on-line farm planning and budgeting tools - the first of their kind in Australasia.

Available from ANZ's website,, the Farm Budget Planners are designed to help farmers plan for changes such as movements in output or input costs, variations in production or yield, or increasing borrowing.

Developer Gavin Crawley-Smith says the new web-based tools are quick, easy to use and provide valuable insights into farm operations.

"Farmers would prefer to be out on the tractor rather than spending time on book-keeping and finances," says Mr Crawley-Smith. "The planners look at 'what if' scenarios, such as expanding your business or taking on new employees, and can help with risk management by analysing data based on seasonal factors and market conditions.

ANZ District Manager Peter Nation says the Farm Budget Planners will be of great assistance to his customers.

"We know farmers are big users of the Internet. The planners are a response to their need for tools that allow them to easily marry production factors with financial outcomes, and are quick and easy to use," says Mr Nation.

"For example the recent rise of wholesale interest rates and analysts' forecasts that they will continue to lift throughout the year will clearly impact farmers in various ways from debt servicing to cashflow. The new tools enable farmers to work out what effect any movement in interest rates could have on their operation now and in the future, so they can make more informed decisions."

The new tools consist of six Budget Planners, developed specifically for the major farm types. The planners can be used to:

* Provide simple annualised budgets
* Plan the next season or run various scenarios
* Provide estimates of repayments on a new loan
* Analyse a current operation
* Identify market trends
* Generate ratios and benchmarks to help identify potential issues
* Provide supporting information for financial reports
* Analyse, plan and manage risk more effectively

All users need to do is input information about past, current or proposed operations into the various fields and click a button to reveal the impact of their changes.


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news