Before You Start: Before using any calculator, it is a good idea to collect or have an idea of the below information. 

  1. Location of the proposed devices, types of devices and number of devices 
  2. The number of times your staff would visit those device locations per week (or month) 
  3. The time taken to visit those device points 
  4. Labour rate (of those undertaking the inspection) 
  5. Other costs of inspection (e.g. vehicle running costs) 

Note 1: For practical reasons, most calculators assume that by installing the devices staff will not visit these device location points again. This does not make the calculators redundant or nonsensical. As an investor, you may need to apply a reduction percentage to the output from the calculators, such as, it will reduce the number of visits each ‘year’ by 50%. 

Note 2: Most calculators are focused on pure and immediate financial measurables. Investors into AgTech also need to consider the ‘social’ and peace of mind benefits of the implementation of AgTech. These benefits may include:

  • Better planning on days with challenging environmental conditions.
  • Staff can quickly check sensors and ascertain if any immediate action is required.
  • Reduced risk, by not having to inspect some points or all points all the time.
  • Possible reductions from insurance brokers.
  • Your business may become more appealing to lenders.

Example 3rd party calculator: 

(This calculator been developed by, and shared with permission from Stirlings to Coast Farmers)