# Automation is disrupting every industry – even agriculture Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-09-02 Category: BUSINESS Category URL: https://financedigest.com/category/business Meta Title: How Automation is Revolutionising Financial Processes in Meta Description: Learn how technology is streamlining financial processes for agricultural businesses, saving time and increasing productivity. Find out more! URL: https://financedigest.com/automation-is-disrupting-every-industry-even-agriculturehtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd020917-5-1736843563047-compressed.jpg) By **Dean McGlone,** Sales Director at V1 ![Dean McGlone](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd020917-2-300x300-1736843562889-compressed.jpg) Dean McGlone It’s no secret that disruptive products and services are emerging to make a profound difference in every corner of the business world – and this includes the field of agriculture. [According to WIRED magazine](http://www.wired.co.uk/article/automation-streamlining-farming) it is “only a matter of time until we see fully autonomous vehicles connecting ploughs, seeders and combine harvesters, and optimising supply chains. When they do, the entire process of farming will be streamlined…greater quantities of our food will be [produced and supply chains](https://www.financedigest.com/strained-supply-chains-keep-u-s-producer-prices-hot.html "Strained supply chains keep U.S. producer prices hot") will be optimised…Then, the cycle will be complete”. It’s not just the physical side of farming that can be streamlined by technology. Most finance functions spend 50% of their effort doing compliance and filling out statutory returns, and just 25% of their time and effort helping the business side to make more money, identifying what’s making money, and what difference a change in pricing would make1. It’s therefore little surprise that more agricultural [businesses are looking to automate](https://www.financedigest.com/the-importance-of-upskilling-to-prepare-for-business-automation.html "The importance of upskilling to prepare for business automation") financial processes, replacing manual paper driven processes with automated digital ones. These financial processes extend through to purchasing and payment processing. Just as [mobile technology](https://www.financedigest.com/the-cleanroom-technology-market-to-be-on-the-mobility-move.html "The Cleanroom Technology Market To Be On The Mobility Move") is being used to a far greater degree, with tablets being used in farms and sat navs helping inform spraying techniques for chemicals on fields, farmers are also increasingly using technology to order instantly when they see they need more chemicals for a crop whilst out and about on their land. Woldmarsh – a membership organisation for farmers operating as a buying co-operative for farmers – is a great example of how [automation can drive](https://www.financedigest.com/cognitive-automation-ca-to-drive-the-genetic-diagnostic-testing-market.html "Cognitive automation (CA) to drive the Genetic Diagnostic Testing Market") efficiencies in these areas. A buying collective made up of over 1,000 farms across England that together generate revenues of more than £100m, Woldmarsh uses financial automation software from [V1](http://wearev1.com) to process 19,000 invoices on behalf of the farmers each month. Each invoice is automatically scanned, the data intelligently captured and then uploaded to their finance [application and a web-accessible management](https://www.financedigest.com/service-lifecycle-management-applications-market-to-grow-at-a-cagr-of-6-9.html "Service Lifecycle Management Applications Market to grow at a CAGR of 6.9%") interface.The [farm knows the cost of goods immediately and the spec of the order straight away](https://www.financedigest.com/dutch-wind-farm-blows-away-opposition-as-new-millers-get-a-stake.html "Dutch wind farm blows away opposition as ‘new millers’ get a stake"). It’s completely transparent. With the farms getting all the data, it’s easier than ever to understand the exact costs against the yield; the price of the seed, the fertiliser, and any chemicals used, can all be automatically captured in the farm’s management [information system](https://www.financedigest.com/the-cardiovascular-information-systems-market-is-expected-to-grow-on-a-persistent-note-in-the-future.html "The Cardiovascular Information Systems Market is expected to grow on a persistent note in the future").Accuracy is also not an issue as the data is captured using the OCR technology – removing any human error. In addition, [managing all the invoicing for the farms alsoremoves the administrative burden](https://www.financedigest.com/tinnitus-management-market-to-top-us-3-2-bn-driven-by-growing-burden-of-hearing-disorders-fmi.html "Tinnitus Management Market to Top US$ 3.2 Bn Driven by Growing Burden of Hearing Disorders: FMI") from them. So there is the benefit of less paperwork and, with each document scanned and archived sensibly, there are other considerable benefits such as increased [storage](https://www.financedigest.com/eu-will-consider-making-countries-fill-gas-storage-energy-chief.html "EU will consider making countries fill gas storage – energy chief") space and positive environmental impact. In this way, automation brings greater freedom from mundane tasks, eliminates more menial work and [boosts productivity](https://www.financedigest.com/flexible-pay-can-boost-low-productivity-in-the-uk.html "Flexible pay can boost low productivity in the UK") for staff. In addition, [working together means](https://www.financedigest.com/redefining-what-it-means-to-have-it-all-how-to-make-work-fit-into-your-life.html "Redefining What It Means to Have It All: How to Make Work Fit into Your Life") the farms have scale, resulting in greater purchasing power. It [allows agricultural businesses to explore other areas](https://www.financedigest.com/soccer-standing-areas-at-premier-league-grounds-to-be-allowed-from-january.html "Soccer-Standing areas at Premier League grounds to be allowed from January") of interest that require greater reasoning, such as AI and the use of drones. While farmers may traditionally be thought of as a group resistant to new technology, there’s no denying it is increasingly making its way into the agricultural industry. Yes, there will be challenges along the way however the roles of farmers in the future of sustainable [food production](https://www.financedigest.com/why-are-commercial-food-products-manufacturers-adopting-insect-growth-regulators.html "Why are Commercial Food Products Manufacturers Adopting Insect Growth Regulators") will arguably evolve for the better as a result. “Technology is being used to help farms become more efficient,” Hazel Copeland, [Chief Financial Officer](https://www.financedigest.com/impact-com-names-hubspot-veteran-kim-walsh-as-chief-growth-officer.html "impact.com Names HubSpot Veteran Kim Walsh as Chief Growth Officer") at Woldmarsh, concludes. “From a purchasing perspective, farmers are increasingly using technology to order instantly, when out and about. Financial professions can take advantage of financial automation [software](https://www.financedigest.com/guide-to-the-most-affordable-marketing-automation-software.html "Guide To The Most Affordable Marketing Automation Software") from V1 to automate processes and ensure they are stored intelligently, so it’s all easy to access and you have a proper audit control. We are already seeing efficiencies, greater control and [effectiveness](https://www.financedigest.com/negative-effects-of-technology.html "Negative effects of technology") from the use of technology.” 1 Statistics provided by KPMG for article in [April 2017 issue](https://www.financedigest.com/uk-car-output-up-9-9-y-o-y-in-april-as-supply-chain-issues-ease.html "UK car output up 9.9% y-o-y in April as supply chain issues ease") of Finance and Management. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---