“We’re not just monitoring performance, but giving our people a tool to make better decisions.”
Managing Director, Investment Manager &
Compass Agribusiness is Australasia’s leading agribusiness investment and client partnership specialist. Operating across New Zealand and Australia, Compass provides agribusiness asset management, environmental initiatives, innovation and animal welfare practices to grow sustainable, value-add investments for its investor owners and farmers.
Departments using Domo
Compass needed a better way to store and analyze operational and financial data to understand farm performance.
Domo centralizes data to give farmers and business managers the insight required to direct investments and make decisions.
Instant insights, mobile access and instant alerts help empower sustainable farming practices while delivering profits.
Compass agribusiness keeps farming sustainable with Domo.
While today’s farmers are still focused on running a profitable business, the bottom line is by no means their only metric for success. Farms seek to create sustainable operations that also take the environment, employee working conditions, and animal welfare into account. To help farms optimize their operations and raise capital to fund these initiatives, Compass Agribusiness Management works with investors and farmers to operate high-performing, sustainable farming operations.
Contrary to the rustic reputation of farming, few industries leverage technology in their operations more than agribusiness. “Everything is very measurable, from sunlight and rain to the growth of crops and animals to environmental impact and water quality, not to mention the financial side of the business,” said Nigel Pannett, Managing Director, Investment Manager & Agribusiness Specialist at Compass Agribusiness Management.
According to Pannett, Compass needed a better way to store and analyze the operational and financial data it was getting from its dozens of systems so it could better understand how its farms and business are performing. “We needed something to bring all that fantastic technology in one place and use it not just for reporting and understanding what’s happening, but for decision-making in our business. And that’s what led us to Domo.”
From data points to the dinner table.
Compass manages several farms across Australia and New Zealand, each with its own ways of managing data. Compass uses Domo to bring all that data together in one place to give business managers the insight they need to direct investments and provide support.
“The process with Domo has been brilliant. We have people in accounting, operations, and on the farms who are all focused on their specific roles. Domo helps them see the overall objectives of our farming enterprises to better understand how to make the most impact.”
Data can come directly from farmers who upload data for analysis, or automatically from IoT devices like moisture probes in the ground or aerial satellite photos that provide weekly updates on yields, helping Compass make smarter, sustainable decisions about things like water usage. Compass also uses Domo to manage its financial performance, staff utilization and productivity, and operational safety metrics.
Alerts indicate when there is an issue that needs to be addressed across the business or in specific fields. For example, one alert is set up to indicate if soil moisture falls below 30%, which would impact crop health and yields. The alert is sent to the specific farm manager in charge so they can investigate the issue and make decisions about irrigation. Other alerts monitor dairy milk quality, daily production, and staff overtime.
“We’re not just monitoring performance, but giving our people a tool to make better decisions,” said Pannett.
Before Domo, Pannett struggled to get the data he needed to analyze performance and answer investor questions. “What we’re doing is so measurable, but what frustrated me was that the information was in eight different places. That means I had to get to each of these locations and then draw conclusions. What Domo has done is bring it all together in one spot.”
Compass uses real-time dashboards that Pannett and other company leaders monitor daily to make decisions. These dashboards provide early insight into issues big and small, from a pump left running that is costing energy to low milk quantities that can provide an early indication of a machine that needs to be repaired. “Domo has changed our thinking. If we get the right information coming in, then we can make business decisions quicker and run more efficient operations. That’s the most exciting part of it.”
Thanks to Domo, Pannett says he is able to get more information faster so he can make quicker decisions. “It’s saving me a lot of stress from looking in different directions. It saves me a lot of time, so I’m able to look at data more often. I didn’t look as much when I was busy because it would take too much time. Domo has given me comfort that I can understand the key metrics of what’s happening instantly.”
Bringing intelligence to market.
In addition to providing farmers with data-driven support, Compass uses Domo to help keep track of their investments. “Domo has simplified our reporting process. Instead of pulling together three or four different sources for reporting, it’s coming from one place. It’s helped us tell the story quicker, and it looks good as well.”
Pannett often pulls up Domo on his phone in meetings when pitching for capital or meeting with new investors. This not only helps answer questions on the fly during the meeting, but helps Compass stand apart from competitors by demonstrating the firm’s commitment to data-driven operations.
“Whenever I bring out Domo and show them how we’re measuring our operations, I’m met with quite an excited response.”
“Everyone is out there competing for capital, and I want to show them our level of sophistication. Some of these groups that we’re presenting to don’t have that technology within their own businesses or investments, so it creates a point of difference for us,” Pannet said.