Taking Farming into the Future with AssetPool

Farmers feed the world and those farmers have a lot of expensive equipment that makes this possible. The global agriculture equipment market size was estimated at USD 155.68 billion in 2021 and is expected to reach USD 159.42 billion in 2022. When a farm adopts a Smart Inspection Platform like AssetPool, they will realize the benefits of live data and cloud based storage. Considering the fact that there are approximately 4.2 million tractors on farms and ranches across the United States, it is evident that there is a need for digital inspections on this equipment. The average age of tractors is over 25 years and some of the oldest models are the most popular, this means scheduled preventative maintenance is key. Farming equipment is costly and if a farm is already struggling and their main tractor breaks down it could mean bankruptcy. According to Costowl, larger tractors with about 100 hp, 4-wheel drive, and a cab tend to run from $50,000 to $75,000. Tractors with 100 to 150 hp usually cost anywhere from $75,000 to $150,000. When your livelihood depends on the performance of high cost equipment, digital maintenance is the responsible decision. 


There is no reason why farming equipment should not make it to its lifetime warranty. AssetPool will give peace of mind to the owner of the farm as they have a complete overview of the condition of their equipment. It is not only the equipment on a farm that can be inspected with AssetPool, the condition of the crops can also be checked. We have a client who uses AssetPool to inspect the grape vines in their vineyard. Each day, an employee of the vineyard takes their phone and scans a QR code at the end of each row of grapes. The checklist is pulled up on their phone and they go through the checks. This information is now instantly available to the owner of the vineyard and if there is an issue it can be dealt with before it spreads. This type of inspection process saves time and money as faulty equipment or a failed check will notify the business owner. 

Preventative maintenance


If a farmer is looking to save funds they need to be focusing on how to reduce lost crops. A new WWF report shows that 1.2 billion tonnes of food produced globally is lost before it even leaves the farm. When a crop is ready to be harvested, it is time-sensitive. When inspecting crops manually, there is room for error. If a crop is inspected with AssetPool, the state of the crop is available to the farmer instantly. If there is a risk of bug infestation in a certain crop and it is caught quickly enough that can result in saved revenue. Another example of how AssetPool can be utilized in the farming industry is the inspection of livestock. When a chicken farmer is raising hundreds of thousands of chickens, they need to be sure that the state of health is maintained. The same issue is present when farming cattle. Each cow stall could have a QR code on it and when the farmhands are cleaning, refilling the food, or milking the cows, a digital checklist could be completed. 


Increased Productivity


The amount of time that a traditional inspection takes versus a digital inspection can be a game-changer when it comes to productivity. The more time an employee can save on one task means that the overall efficiency of the farm will increase. What more could a business owner want? Increased productivity, increased revenue, and increased visibility over their assets. When you switch to a Smart Inspection Platform, you gain all of these benefits. 


IoT and farming


With AssetPool, each asset is uniquely identified, and it can be monitored by both live IoT data monitoring as well as physical data through inspection. Farmers who use AssetPool have the ability to issue a job to the nearest technician who is able to repair or inspect the asset. The technician opens the job and scans the asset using the application—who, what, where, and when are all recorded and the farm owner has this information instantly. The tractor repair is done, automatically documented, and stored in the cloud. Most asset management companies only offer a portion of the complete AssetPool offering; either the IoT device and the ability to monitor it on a limited platform, or they only provide the asset inspection component. At AssetPool, we complete the loop and offer it all through one easy-to-use application.


The ways in which IoT can be utilized in the farming industry are as follows:


  • Recording weather patterns
  • Determining environmental data which can inform farmers of adverse conditions
  • Setting up of digital automated reminders to complete inspections that are key to making sure your farm is operating
  • Checking to see if there are pests or rodents that could hurt your crops
  • Measuring the moisture in the soil. 


In conclusion, AssetPool has the ability to give a full overview of your current asset’s health. The power of this visibility can mean the difference between being able to pass down your farm to your children or not being able to make it to another harvest season. Watch the below video that showcases how the farming industry can benefit from AssetPool.


Watch the Farming Video



Michael Kirk

Specialist in process management, digital transformation and change management! Passionate about our businesses, it's people, friends and customers we help on a daily basis.

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