Accounting app, Farmizo Khata to enable farmers account their farming expenses

Accounting app, Farmizo Khata to enable farmers account their farming expenses

Shivrai Technologies, an Indian agritech company, recently announced the launch of its B2C farm accounting mobile application, Farmizo Khata. Joining hands with  SBI Yono, it aims to help farmers across the country to manage their accounts efficiently, thus cutting down on losses. Shivrai also owns its own B2B brand, FarmERP.

Shivrai Technologies recently coined its 25-year mark of incorporation. Known for its formidable solutions in the space of agritech, it is all set to dip their foot into the B2C pool. Through this new venture with SBI Yono, it aims to make its application increasingly accessible.

Farmers incur massive losses due to the lack of knowledge, disorganised book-keeping skills, and inability to manage their expenses in the most profitable manner. To aid this process, Shivrai Technologies partnered with leading digital banking platform, Yono SBI to help smallholder, marginal, and large-holder farmers by way of a free application. This will allow them to focus on their costs incurred, as well as the bookkeeping of total profits that are in line.

This free-of-cost application will not only efficiently manage their accounts but will also give them a platform to analyse and calculate their profits, losses, and expenses, thus enabling them to make wiser purchase, harvest, and production decisions. It is curated in the simplest possible way for smallholder farmers to benefit from it.

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Available on Google Play Store and App store, as well as in the form of a digital portal, this accounting software has a simple user interface and experience for its audience. Shivrai is offering this software to farmers all across the nation at no cost.

How does it work?

Users can create their profile by entering basic information. Post that, the software will guide them to register their plot by entering plot details and crop information. This software will also assist the farmers in Geo-Tagging their crops. In the next step, the farmers would be required to add their expenses incurred on each plot, along with their income details and profit and loss amounts on the software’s dashboard. After doing this, the software would automatically generate the exact cost of production of each crop as per kg and acre. This would include the auditor cost, the marketing and housekeeping cost. In the end, the software would create a ‘Khata’ with a complete view of all the transactions in a simple ledger.

Sanjay Borkar, CEO & Co-founder, Shivrai Technologies said on the launch of the software, “We are excited to announce the launch of this application. Inconsistent cost sheets, poor calculations of expenses and income, faulty accounts are a pain for farmers, resulting in massive financial setbacks. Farmizo Khata has entered the market with the sole purpose of reducing these financial setbacks for smallholder farmers, in turn increasing their yearly turnovers.”

Under the umbrella of Farmizo, Shivrai also plans on launching applications catering to various sub-verticals within the agricultural industry. In the year 2021, the brand is focusing on the upliftment of smallholder farmers by way of launching various applications personalised for their use. In the coming months, Shivrai is gearing itself to launch its new D2C application. The app that is in the final stages of testing, would be directly selling fresh fruits and vegetables to end-consumers, bypassing all and any third-party retailers or middlemen. In the next two years, the brand has a target to onboard two million agricultural stakeholders on their platforms.

Santosh Shinde, COO & Co-founder, Shivrai Technologies said, “We believe Farmizo Khata will pave a way for smallholder farmers giving them the right support they need to make wise financial decisions. This being the 25th year of the inception of our parent company, Shivrai Technologies, we have some exciting projects in the pipeline. Farmizo is one such project that we can’t wait to share with the market.”

Shivrai Technologies is best known for their B2B farm business management platform, FarmERP. The platform has its presence in over 25 countries today, catering to stakeholders across the entire agricultural value chain. The comprehensive platform acts as a solution for various agribusinesses and aims to vastly grow in the future with their personalised solutions.

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