Every corporation needs proper cash flow management, but the way a business manages its finances can vary greatly depending on the industry. Conservis knows this well, providing software for businesses in the agriculture and farming sectors and linking business owners to tools specific to the sector.
The company is now launching a new way to help these firms manage their finances and accounting. In an announcement on Thursday (March 3), Conservis rolled out its real-time financial accounting solutions, the result of integrating financial management tools from FBS Systems.
According to Conservis, the integration allows business owners in the agriculture industry to link on-the-ground production data straight into their accounting systems, a move the firm said leads to greater efficiency and a reduction of data entry error.
“The last six years have seen ag [agriculture] management solutions multiply rapidly across specialized applications, creating an array of data silos that farm businesses have to navigate on their own,” said Conservis Product Manager Jack Makowski in a statement. “The Conservis platform is the first to solve this issue for the farmer’s financial and related production data.”
The integration of FBS Systems’ accounting tools into the Conservis suite of solutions means farming businesses can have a single, cloud-based portal through which to manage inventory, budgeting, purchasing, harvest tracking and more aspects unique to the agriculture sector.
All of this data then flows into the accounting system of the solution to enable business owners and farmers to see the effects of these processes on finances.
“Every field activity recorded in Conservis drives dollars in FBS management accounting,” explained FBS President Norm Brown. “What happens in the field doesn’t stay in the field. It automatically updates financial inventories and cost accounting by farm, crop, field and operation.”
Brown added that the integration of Conservis and FBS leads to “unprecedented levels of financial analysis and cost control.”
“Simplifying the farmer’s world means connecting the greatest number of dots, and this is another major step in bringing all systems together for an expansive, total-farm management platform,” added Makowski.
Conservis added that it plans to roll out new accounting and financial management package integrations into its tool in the next few months.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More