There are multiple things to consider when determining whether your farm needs an enterprise resource planning (ERP) solution. At the core is the question, “How is your farm meeting its obligations today?” This includes obligations to customers, employees, owners, outside entities such as banks, governmental agencies, and auditors, and other stakeholders.
Refinancing 101 – Understanding Agricultural Finance
Working capital (WC) is the biggest issue in farms failing. In challenging times, more than 90% of farms fail as a result of a lack working capital; meaning those farms are not able to stay in business long enough to realize a profit. Simply put, working capital equals current assets minus current liability. We want more current assets than...