Information and Communication Technologies and Robotics for Sustainable Agriculture
Farm Financial Analysis App

Project No: 14591

Project dates:
1 Mar 2015 - 31 Oct 2016

Vangelis Vassiliadis, Agrostis (Greece)

Collaborating Institutions:

Dimitrios S. Paraforos, University of Hohenheim (Germany)

Project website
Full report


Proposal Summary

Farmers lack the tools to make informed decisions related to financial management of their business, taking into account cost and profit margins and profitability analysis. While there is a number of Farm Management solutions on the market today these are aimed for the big Farm Enterprises are not suitable nor affordable for use by the individual or family farm.

Farm Financial Analysis app is a FIWARE enabled front end application that uses Agrostis’s ifarma to provide simple and affordable financial management and analysis solution that can be used to find out critical cost factors that could be avoided in order to minimize costs and maximize productivity. The application has been designed for simplicity and ease of use works even with minimum data entry.

Main Results

The Farm Financial Analysis (FFA) app that leverages the ifarma back-end in combination with a number of FIWARE and FISpace tools and technologies, specifically KeyCloak, WireCloud, WStore and SDI within the FISpace platform.

FFA was tested in 4 pilot farms in Greece and 2 pilot farms in Germany, where the ICT-AGri partner, University of Hohenheim, coordinated the pilots. A variety of farms sizes participated in the pilots for different crops like wheat, maize, vines, apples and olive trees. The user feedback was very positive and the app was easy and straightforward to use provided that the farmers kept the necessary task and financial records.

A detailed marketing, sales and distribution plan has been developed with activities to implement a commercial exploitation strategy.


Agrostis aims to market ifarma-ffa in Europe and internationally. Activities that are in progress including software localization for major European markets and targeted market research analysis and soft-landing options for the German market.

The consortium, along with other complimentary partners use the results of the project to create and propose additional projects on related topics. (e.g. big data analytics for agriculture).