Re-Thinking ROI
Tim Hammerich
News Reporter
When farmers consider new tools for their operation, return on investment plays a big role, and so does the estimated cost per acre. Bruce Moeller, CEO of AquaSpy, says agriculture needs to rethink how it defines ROI to see the real value that new technology can bring on farm.
Moeller… “ One of the things that ag is gonna have to change in my opinion is everybody looks at it as a cost per acre. Well, I can't afford this as a cost per acre. It's got to be x pennies or a dollar or $3 or whatever cost per acre. But if you're talking about nutrient use efficiency, where you're not wasting a third, a half or two thirds of your nitrogen or any of the other biologicals that you're putting on down there, because you put it on at the right time, you're not wasting it. You're saving tens and tens, if not hundreds of thousands of dollars. So if you're paying $2,000 or $1,500 for that subscription, it's not a matter of what your cost per acre is. It's a matter of what your value per acre is or what your savings are. Since this is a podcast about the future of agriculture, I think if ag tech is going to be embraced, it is going to have to change to an efficacy model, a value model, not just a cost per acre model. Again, because it's value you're buying, not just cost.”
Once again, that's Bruce Moeller, CEO of AquaSpy.
