IMAG offers a range of products that analyse your business and identify key areas for improvement. Which method you choose will depend on what outcomes you wish to achieve.

Profit Trend Analysis

This analysis is performed using historical taxation data and does not examine production information over a number of years. It is conducted to gain a rapid snapshot of a business to determine if it has the potential to be a viable entity in the long term. It also assists in identifying performance in the key areas of operating and business return and where the gross income is being spent (on overheads, direct costs, finance or taken as profit). It is designed to be the starting point in farm business improvement.

Farm Business Analysis

Both physical and financial information is used to analyse business performance throughout the production year. The analysis examines gross margin returns for all livestock and cropping enterprises. Physical targets are calculated (such as crop yield/ha, wool cut/head and kg beef/ha) in addition to the usual financial benchmarks (operating return on assets, business return on equity, asset turnover, gross margin ratio and many others).

FBA can identify areas of concern, and above average performance, to help in making adjustments to business structure. It becomes a particularly powerful tool when used over a number of years, as trends can be identified that are often obscured by seasonal spikes.

Benchmarking

This service involves comparative analysis of a group of producers in a similar agricultural environment. A comprehensive set of data is collected on the physical and financial performance of the business for a twelve month period. IMAG processes this information using their comprehensive analysis model and produces output that compares the business to the bottom 20%, average and top 20% of others in the group.

Benchmarking has proved an invaluable tool to enable businesses to make continual improvements to their management regimes. By using the experience of a wide range of similar organisations (while maintaining anonymity for all involved), businesses can rapidly identify the most profitable and sustainable systems to be involved in. Rigorous checking by IMAG consultants ensures the integrity of the data and maximises the value for all involved. A seminar is held after the results have been distributed, where the results are discussed, relevant points highlighted and new technologies relevant to the group are raised. This provides a great opportunity for issues relevant to the group as a whole to be discussed.

Benchmarking data is extremely valuable and the thirty years of data IMAG has access to is an excellent reference source. Groups that have accumulated over five years of data have average results that are relatively free of year-to-year fluctuations. This allows for better decision making than relying on individual year results. Furthermore, IMAG consultants are trained in-field agronomists, so they can make recommendations that suit the paddock, not just what appears good on paper. This is one of the most powerful tools that a business can employ to examine its performance. IMAG strongly encourages groups of farmers who are interested in improving their profitability to contact us to discuss opportunities.

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