After years of collaboration and development, Bossy Nagy Group Professional Corporation launched their Dairy Business Builder (DBB) program. The DBB is a useful tool for dairy farmers to help them create wealth by building better businesses. Below are some commonly asked questions to help you determine if this program is for you:
What is the DBB?
The Dairy Business Builder is an online, cost-monitoring tool that provides dairy producers data regarding their cost per-HL and Kg. of milk shipped, for all their expense categories, and compares their cost-per-unit to other dairy producers on an aggregate basis. The program allows you to compare your cost of production against three different data-points:
- the overall average financial efficiency of farms participating in the database
- the average performance of the most financially efficient 20 producers, and
- the average performance of the least financially efficient 20 producers.
Who should be using the DBB?
Any dairy producer who is interested in identifying areas for improvement would find this tool highly beneficial. It is meant to bring attention to areas of your operation that are doing well, meeting the status quo, or lacking and causes you to ask questions of our advisors.
What benefits are there for my farm in using the DBB?
The DBB keeps information on your operation’s financial performance for the previous 5 years. You can see how your financial efficiency changes on a year-to-year basis. The database’s cost of production is detailed to a sufficiently granular level that allows you to pinpoint areas that require specific attention. Being able to compare your financial efficiency to the best, the worst, and the overall average producers can help you realize your full potential.
Will someone show me how to make it work for my business?
If you choose to participate, an accountant will review your cost of production with you and offer feedback on areas you may need to focus on. If you are unsure whether the program is for you, a BNG team member will meet with you one-on-one to explore a sample database so you can visually see what is offered in the database.
What does it cost?
For existing BNG clients, access to the online database is free for the first 12 months. You will NOT automatically be billed after 12 months, rather you can decide at that point whether you would like to continue participating. After 12 months, the fee is $195 for 12 months access. For non-BNG clients, the service is $695 for 12 months access.
Will my individual farm data be visible to other participants in the database?
The Personal Information Protection and Electronic Documents Act (PIPEDA) PIPEDA sets the ground rules for how BNG collects, uses, and discloses your electronic information across Canada.
DBB participants only have access to their own data in
comparison to the averages described above. BNG is only using your data
How secure is my farm data?
BNG’s DBB is hosted on the Amazon’s Web Service
infrastructure. Amazon provides physical security and logical security
controls at the infrastructure layer. Amazon’s AWS platform is covered
by an SSAE 16 report (done by Ernst and Young) and is PCI Level 1
certified, ISO 27001 certified, and compliant with all major security
control frameworks. These security certifications are issued by
authoritative international standards bodies. For more information on
their security and compliance reports and certifications please visit http://aws.amazon.com/security/ and http://aws.amazon.com/compliance/