By FWi staff

A FARM budgeting package launched at the Royal Smithfield Show can improve farmers business efficiency, claims its supplier.

BudgIT, from Laurence Gould Consultants, allows farmers to compare their forecasts with those of other, similar businesses.

“It will be specifically useful to agronomists and consultants, who will be able to compare clients forecasts with a benchmark,” said Laurence Goulds Pat Hutchinson.

“They can also compare their forecasts with actual figures from the previous year, which together can help to identify areas of over and under spending, leading to possible cost savings.”

The package can also offer consultants and agronomists an insight into what farmers are thinking about the forthcoming year very early on, said Mr Hutchinson.

“It may not be based on actual figures, but so far it has proved to be very accurate,” he added.

Laurence Gould intends to launch the service on-line eventually.