The
software used for farm management are utilized for check writing, contact
management, cost accounting, crop management, customer management, depreciation
calculation, financial management, inventory management, livestock
management, payables and receivables, profit center analysis and tax
management. The farm management software are either web-based or installed on
premises.
The
farm
management software are primarily used for crop management which is the
basic asset of agricultural practices implemented to improve the growth, yield
and development of agricultural crops. Crop management is implemented by
combining, timing, and sequencing agricultural related activities depending on
factors such as biological characteristics, the harvested form, sowing methods,
age of plants, soil, climate and weather. The activities involved in crop
management encompass hilling, suckering, chopping and pinching. Additionally,
crop management includes crop irrigation and biological, mechanical and
chemical techniques to combat weeds, diseases and pests. The farm management
software when integrated with application specific sensors helps in
streamlining the above mentioned activities and helps reduce time to market the
produced crops. The sensors collect the data from the farm and send it to the
computer hardware pre-installed with farm management software. This software
then analyzes the data and provides necessary activities to be performed for
the same. Moreover, the integration of these software with the remote sensing
technologies enables the farm owners to implement desired farming techniques to
minimize the impact of disasters and natural calamities.
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The
farm management software find applications in financial and revenue management.
These software are capable of maintaining financial information such as cost,
prices, payables, receivables, profit, loss and others. Keeping a track of such
information ensures the farm owners to maintain the desired return on
investment and thus manage their revenue. Integrating the financial management
software with the market rates and prices helps the farm owners to track the
actual prices of the crops and ensures transactions at the actual market
price.
Farm
management software is primarily driven by the availability of internet
connectivity and demand for precise farming systems to avoid wastage. However,
the lack of proper infrastructure for internet connectivity and lack of
technical expertise are the major factors posing challenge for the growth of
this market. Conversely, with the ongoing research and developments to overcome
shortcomings in the existing farm management solutions is further propelling
the demand for farm management software.
The
major revenue share for farm management software is from countries such as U.S.
and Canada. This is due to the availability of large farms and highly advanced
technologies in these countries. However, the potential opportunities for the
growth of this market is in emerging countries such as India, China, Brazil and
other countries with large land available for agriculture. Growing trend of
corporate farming is further expected to drive the market growth in the long
run. Additionally, the government support to encourage farming is another
factor that supports the growth of farm management software in these countries.
Conversely, due to lack of technical expertise and awareness in these countries
are the major factors that hinder the growth of farm management software.
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