Emerging Role of Financial Services Technology in Agriculture

Companies from different sectors have now become aware with the advantage of the mobile channel to provide information and solutions to clients in more customized and affordable ways, as mobile communications technology has quickly become the most common way of transferring a speech, data, and solutions in the third world. Mobile banking and mHealth are the best example of mobility that has attained popularity for their capability to provide solutions to people in distant areas of the nation with no access to banking or healthcare centers.

But Uniphore that is the first company who introduces mobility solutions in India has noticed the most untouched industry on which India rely heavily from the effect of mobility is farming and start working to make use of speech and data technology on cell mobile phones to experience more economical operations, automating the information and market programs frequent in their functions. There are three main goals that can be carried out by implementing mobility in farming.

Automation of field force: Till now human agents work as a bridge between the farmers and business depend on agriculture and collect information and updates for the business, personally visiting the farmers at their place as well as in return providing the latest techniques and services to them. All this process is recorded in pen paper format that consumes a lot of time in sending back the collected information back to the headquarter for further processing in frequent durations. Due to this pen and paper procedure there is significant delays in other business procedure and sending back the information and updates to the agent to deliver to the farmers. To eliminate this setback these field agents are provided with a phone with application uploaded to record details and sending it back to the workplace without any delay. This considerably decreases travel costs as well as costs associated with pen and document and time also.
Easy access to the right information: Till now it is the common practice in rural areas that farmers heavily dependent on the middlemen to know the price of their commodity and these mediators buy farmers’ crop at a comparatively lower price than the actual price and sell it at high margins unless farmers have the same details about the costs for their generate in specific marketplaces. Irregular pricing details are a weakness of non-urban marketplaces. But with the help of financial services technology application businesses provide users access to the useful, appropriate details’ and a cultivator can get commodity costs in various urban marketplaces through a simple request made on a cell phone.
Improving produce quality and relationship: Various companies that are directly related to the farming using mobility solutions to empowering farmers with the appropriate advisory alternatives with which they work. This application allows farmers to share problems and possibilities in farming manufacturing, marketing, efficiency, and family livelihoods. Related companies have discovered that the application has improved the working methods of the farmers that ultimately results in the improved quality of crops and along with the loyalty of the farmers toward the specific company.
Long story short these three benefits also contribute in improving the livelihoods of farm owners while allowing more effective functions across the farming sector, developing a win-win situation across stakeholders.

Guneet is author of different articles on a myriad of different new technologies topics. He represents uniphore, that offers financial services technology or new version of mobility software .

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