Shivrai Technologies, SBI Yono to launch Farmizo Khata, a farm accounting app

Shivrai Technologies, SBI Yono to launch Farmizo Khata, a farm accounting app

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

Shivrai Technologies recently coined their 25-year mark of incorporation. Known for their formidable solutions in the space of agritech, they are all set to dip their foot into the B2C pool. Through this new venture with Yono by SBI, they aim to make their 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.

Aapki Kheti Ka Hisaab Kitaab– 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 Farmizo Khata 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, etc. In the end, the software would create a ‘Khata’ (account) with a complete view of all the transactions in a simple ledger.

A few salient features of the app are, creation of a profile, registering the crops the farmer is growing on, recording head wise expenses, activity as well as income. This will allow the app to generate a profit and loss report. The farmer will be able to view plot-wise ledgers with all the particulars in place. He/she will be able to keep a tap on all these accounts through the dashboard which will be easily accessible. There will also be a generation of the total ‘farm report’. Apart from this the farmer will also be made aware of a variety of proposed offers and the weather forecast.

To break it down, the benefits of using Farmizo Khata can be comprised in the following ways:

1. To track income and expenditure

By keeping accurate records, at any time of reconciliation, the farmer can report the correct amount of money spent or gained on particular plot. This helps him analyse where he has spent more and how profitability through his business can be enhanced.

2. Profitability and cost of production

The farmer can easily arrive at cost of production to understand at what price he should sell his produce at, to garner maximum profits.

“We are very 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,” Sanjay Borkar, CEO and Co-founder, Shivrai Technologies said on the launch of the software.

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.

“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,” said Santosh Shinde, COO, and Co-founder, Shivrai Technologies.

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. Their 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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