Growlytics – 28 April
Growlytics is “Your Farm’s Own Personalized Finance Department”. They help farms make strong financial decisions, gain access to more capital, and free up valuable time. Growlytics enables farmers to professionalize their farm business management. In today’s competitive and volatile farm economy, being a farm business manager is a requirement for all successful farms.
The Growlytics team provides services such as comprehensive insurance analysis to best manage a farm’s production risk. They are trained to identify, measure, analyze and interpret financial information in order to help you most effectively manage your business. They can prepare and distribute monthly, quarterly, semi-annual, or annual financial reports appropriate for management and responsibility centre managers, as well as assist in negotiation of borrowers terms, conditions, pricing, and security which is optimized in relation to specific borrowers key financial metrics.
Additionally, Growlytics can oversee preparation of cash flow budget/projections for key enterprises using input from management and report periodically on cash flow performance. They offer comprehensive due diligence advice and hands-on support in evaluating opportunities across the risk/return spectrum, while analyzing the impact to the balance sheet and cash flow of Capex additions. This assists agricultural enterprises to obtain capital and maximize economies of scale through consolidation.
Farms are provided with annual comprehensive analytical reports for their financial service providers, outlining all key risks with appropriate mitigation/strategies. This report will bring tremendous credibility to your negotiations with financial institutions.
Growlytics’ main focus has been on farms focused on growth. In the last 18 months they have onboarded numerous clients so that the company now manages a portfolio of ~ 700,000 acres. Maintaining a high level of service is very important to the company, so they have been fortunate in sourcing high calibre people to help facilitate their growth and deliver top quality results.
Gerry Bourgeois, Co-Founder – Gerry has been part of the agriculture industry since a very young age. After growing up on the family farm, Gerry attended the University of Saskatchewan where he earned his Bachelors in Economics in 1995. After graduation, he spent nearly 24 years with Scotiabank where he developed customized solutions to manage key risk to each agricultural business. In 2018 Gerry retired from Scotiabank as Director for Ag. Banking for Saskatchewan.
Besides being a professional agricultural banker for 24 years, Gerry farmed with his brother where they eventually expanded into aerial application and grain handling. He continues to have a long term commitment to agriculture throughout the province, developing solutions to mitigate financial, market, and production risk while ensuring timely & effective access to capital.
Brian Mack, Co-Founder – Brian is an experienced and accomplished financial and insurance professional with over fifteen years of experience in agribusiness. He is a Chartered Professional Accountant (CPA) and has a Masters degree in Public Administration.
Prior to Growlytics, Brian was the founder of a boutique financial consulting practice that worked with high performance agribusinesses. Brian has also played a significant role in the start up of three private crop insurance companies. Brian tailored financial risk management solutions for farm managers and also educated partners on alternative structures such as captives and other reinsurance instruments. Prior to Brian’s involvement in private crop insurance offerings, he was the Chief Financial Officer for one of the first vertically and horizontally integrated agribusinesses in Saskatchewan. Brian is originally from small town Saskatchewan and is grateful for his rural roots.
Growlytics is entirely self funded at this time. All funding for growth has been financed by each of the co-founders. The company has a growth target of 1 million acres under management within the next 12 months, with further expansion into Alberta and Manitoba.
Growlytics charges a subscription-based fee for their services.
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