Like many of our farmer's, we're having to tighten our belt. Although this means some changes to our internal processes, we stand by our farmers and remain committed to delivering continued product enhancements focused on making life on the farm a little easier.
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Farm management software provider FarmIQ is streamlining its team with a focus on new feature development and enhancements to better meet the requirements of existing farmers and attract new subscribers.
Will Noble, FarmIQ CEO says, “FarmIQ plays a critical role in many farming businesses. Over the past three years, we've implemented a tremendous amount of change to modernise the ten-year-old FarmIQ infrastructure. In addition, we've released our new field app built on entirely new technology with enhanced online and offline functionality and acquired farm modelling programme Farmax in a partnership with AgResearch.”
Over the same period, the FarmIQ team has built modern API infrastructure powering integrations with companies such as The New Zealand Merino, ANZCO, TracMap, OSPRI/NAIT.
"Now is the time to double-down on the progress we have made and focus on supporting existing and new farm subscribers to manage day-to-day operations and meet increasingly heavy regulations," Noble continues.
Whilst the business has achieved subscriber growth, it has been slower than anticipated. Like other agri-supply businesses, FarmIQ has faced revenue headwinds for more than a year. As a result, they are joining several other firms in their industry currently reducing staff numbers as farmers close their wallets to cope with massive regulatory change, uncertainty, increased input costs, geopolitical uncertainty, volatile farm gate prices, and repeat extreme weather events.
The rationalisation of the FarmIQ team will require adjusting its operating model, placing greater emphasis on acquiring new subscribers through digital channels, and referrals from rural professionals and other farmers.
The changes come with the support of FarmIQ’s shareholders. Practical support is being provided by its major shareholder, Pāmu (Landcorp Farming Limited), which will make available corporate services, including HR, finance and increased support from the state-owned enterprise’s newly appointed Chief Technology & Digital Officer, Tammy Lemire, who joins the FarmIQ Board.
The transition to the new structure will be phased but fully effective from 1 July 2023. Following the implementation of the changes, CEO Will Noble will step down in August. The Chief Operating Officer, Gavin McEwen, will assume the role of Executive General Manager leading the business under the new model and reporting to the Board.
FarmIQ Director for Silver Fern Farms, Dan Jex-Blake who is also a FarmIQ user, commented, "The team's done a great job the past few years to sort out technical debt to get the system stable and reliable, and the new mobile was a lifesaver after Gabrielle – still having access to our stock list despite all comms being knocked-out was invaluable.”
Commenting that we haven’t seen the end of challenging times in the primary sector, Jex Blake concluded, “The need for digitisation of farm data and information is greater now than ever before. This restructure will position FarmIQ as a key player and allow them to continue to serve the 3,500 farmers who rely on FarmIQ and FARMAX today."
ABOUT FARMIQ
FarmIQ drives better farming decisions, improves performance, and provides peace of mind ahead of audit time. It is map-based farm management software that keeps everyday information in one place. FarmIQ is backed by key industry companies Pamu (Landcorp), Silver Fern Farms, MSD Animal Health, Vet Ent and Farmlands and has over 3,500 farms using their platform.
farmiq.co.nz
ABOUT FARMAX
FARMAX is a decision support tool helping farmers better plan, monitor and analyse their farm operations while balancing profitability, production and the environment. Farmax, formerly owned by AgResearch, and was incorporated in 2003 and acquired by FarmIQ in 2021.
farmax.co.nz
MEDIA CONTACT:
Bristol James, Senior Marketing Specialist - FarmIQ
Email: bristol.james@farmiq.co.nz
Phone: +64 27535299
