With the advent of breakthrough technologies that transform machines with Artificial Intelligence, farm management software is emerging as a new intelligent business tool for the agriculture community. Smart farm management software are likely to gain ground in the industry, where most business-related decisions were primarily based on intuition, assumptions, and prognostics of weather, till now. While predictions still continue to remain the indispensable part of agrobusinesses, the rise of new farm management software is expected to help farmers and big agriculture companies make more calculated and data-driven decisions in the coming years.
In the Information Age, the whole manufacturing world is bracing itself for the Fourth Industrial Revolution – Industry 4.0. But can we say the same about the agriculture industry? While every other industrial area is riding on the coattails of digitalization and smart technological tools, do the modern-day farming practices reflect similar trends?
What Changes to Expect in the Ever-evolving Agriculture Industry in 2020
In today’s world, where the intensity of competitiveness is getting amplified by the minute, farmers are aiming to push their business productivity and yield efficiency to maintain their lead in the market. However, the high level of unpredictable growth parameters in this business is triggering the need for high-tech tools that can improve the foreseeability of various farming operations.
New-age farm management software are being introduced by many technology companies to feed the need for reducing impact of incalculable contributors in farming businesses. Farmers and agriculture companies are willing to make more deliberate decisions to magnify their profits and returns on their investments (ROIs). Consequently, the adoption of high-precision farm management software is expected to gain momentum in the industry, pushing it towards high-efficiency and sustainable agriculture.
Here are some of the important drivers of the upward spiral of tech-driven farm management tools that may change the outlook of the agriculture industry in the coming decade.
Precision Farming is Becoming a New Business Approach among Farmers
With the increasing competition in the agriculture industry, modern farm owners are on the hunt for technological tools that can enable them to achieve low-input and sustainable yield across all their farms. Next-generation farm management software can bridge the technology gap between traditional farming practices that highly rely on the weather forecast and techniques of detailed and accurate farm planning for maximum crop production.
Production Technology is Becoming a Reliable Tool for Strategic Positioning
Through the cutting-edge farm management software, farming companies are leveraging advanced production technologies to build strong and appropriate business strategies. With the help of business intelligence features of farm management software, farmers are aiming to make more informed decisions on various aspects such as which yields to focus on and what future opportunities they must tap into from a long-term prospective.
Implementing a Better Risk Management Program is Becoming Easier than Ever
Farmers can rely heavily on the weather predictions and other more insightful business management features integrated in farm management software to take calculated risks. Also, as the relationship between the agriculture industry and food industry is constantly changing with the dynamic consumer demand, farm management tools can also help farmers to sync with these changes more efficiently. This can effectively mitigate the negative impacts of production risks, strategic risks, as well as finance risks.
Use of Farm Management Software for Personnel Management is Increasing
While crop production intelligence and finance planning are considered more serious aspects of farming, rising preference for farm management software for managing labour is emerging as an effective strategy. A mounting number of agriculture corporates are leveraging high-tech features of these software for talent retention, employee training, hiring new talent, and for implementing other human resource management strategies. Farm management software can be effectively used to motivate employees towards improved performance and maximum contribution to the business productivity.
While these are primarily more prominent business dynamics that are triggering adoption of farm management software, more factors remain instrumental in the drive towards digital transformation of the agriculture industry. But more importantly, increasing awareness among stakeholders about the benefits of investing in farm management software and high-tech tools will remain the workhorse in this landscape.
Small farmers as well as large enterprises are noticing the impressive ROIs vis-à-vis farm management software, and this is expected to bolster adoption of these software more than ever in the coming decade.