Fathom

Quick, clean, accurate financial statements and reports

Comments: Fathom saves us hundreds (yes, hundreds) of hours per month in labor since we can build a template and copy it between entities. That meant we could create a financial statement format and duplicate it over and over and over as needed to generate reports.Clients also appreciate the clean aesthetic and reliable KPIs - our reporting, while customized, stands out from those firms dumping things right out of QuickBooks or building and re-building them in Excel.

Pros:

Syncs to QuickBooks instantly, updates regularly, and allows for unlimited groups to be created for the consolidation of financials between multiple companies. Also, most reports can be exported into Excel if you need to do a little finessing.

Cons:

The consolidated charts & graphs module is still in need of a few more granular features.

Fathom AI Notetaker Made Me a HUGE Fathom Fan

Comments: Very Positive, great impact on business meeting and detailed records

Pros:

LOVEEEE the AI notetaker. Truly a game changer and should be implemented in all businesses.

Cons:

I wish it would join automatically, but it is not hard to get in the meeting

Fathom is helpful

Pros:

What I like most about Fathom is that it links with Quickbooks.Fathom is also a great tool to help forecast. I love how I can see runway.

Cons:

Fathom can sometimes be confusing to use. For example, Fathom doesn't include tax in the expenses exported to the software.

Brilliant forecasting and cashflow tool

Comments: I love the software and think overall it is very reasonably priced for the hole it fills

Pros:

What i was looking for was an easy forecasting tool to help my business with cashflow. What i got was something even better which will help my business and that of my clients no end

Cons:

Support requests have had slow replies tbh

Fathom is a Go to Forcasting Tool

Pros:

Our firm has looked at a number of cashflow tools for our clients and we have not found anything else with as many features to build out a very detailed cashflow as Fathom has. There are options for drivers, mini budgets, and the bonus is the balance sheet forcasting.

Cons:

It takes a lot of time to set it up. It also is harder to learn but once the tool is learned it's easy to use. When you're building out your forecast it is easy to mistakenly delete all of the amounts, and there is not an undo. you have to be very cautious on how you adjust your cashflow to make changes.

Highly Customizable FP+A Software

Comments: Required to use current financials and build topline and expense forecasting as well as display performance information and forecast information to shareholders and potential investors; our major shareholders were impressed with what they saw during our last meeting held using Fathom as the dashboard and 'deck'; thus, we were able to conduct our entire meeting using the Fathom dashboard report

Pros:

Great and easy connection with QBOSimple setup and customizable GL categories Step by step initial setup that is easy to followGreat support and excellent learning materials

Cons:

Forecasting using formulas can be a little more comprehensive

Fathom Makes Reporting for Clients Easier

Pros:

I liked that Fathom integrates with QuickBooks Online software.

Cons:

There's not much I don't like about Fathom, but I do wish the subscription was less expensive.

Entreflow Consulting Group's use of Fathom

Comments: Given that our CEO, Helina Patience used to be a financial analyst, it’s probably not a surprise to many of you that this is one of her favorite apps to use at Entreflow. So I absolutely love this app and it's one of those apps that I can safely say is suitable for absolutely every business and business owner. It has a super easy ratio and profitability analysis. For those of you who are a little bit rusty in your ratios, it explains what those are and also has the definitions for your clients too

Pros:

Our favourite feature is the sensitivity analysis. Within the app you can do “what if” analyses to see “If we grow our sales by this much, what does that mean to our net income?”, “If we change our mix by this much, what does that mean for our net income?” and there's a whole bunch of different things you can look at, but it's literally toggling a little bar around and it gives you a really clear indicator of how you would do. And then within the app itself, if you're sitting there with a client using the app you can actually see animation occur to show you a bigger picture of what's going on. You can also click on certain aspects to drill down and get more information which is just amazing given the amount of work that used to go into doing this in Excel.

Cons:

We would love to be able to bring in non-financial data, and data from other sources like Google Analytics, your CRM information, your ERP, your Facebook analytics. Native connections brought there, or at least be able to connect data to a Google sheet so that on the non-financial KPI (key performance indicators) side of things, you can pull that data in super easily and get a bigger picture without having to manually enter anything in.

Best KPI & Reporting App

Comments: I am so glad I found this app years ago. It has been an absolute solid rock for our and our client's businesses. Free 14 day trial. It's a no-brainer.

Pros:

So easy to use. Extremely beautiful. Logical setup and design. Forces people to focus on the right things easily and get deep insight into business results without having to do a whole lot of work. It makes it possible for non-financially focused people to engage deeply with business targets, results and trends in an approachable and exciting way.

Cons:

The feature rollouts have been a bit slow in the past few years. Would love to see this app grow a bit faster. We are using 85%+ of the app with every client so chomping at the bit for more features.

Great Reporting Solution

Comments: Overall, the software offers a good balance of data crunching packaged into beautiful, presentable reports.

Pros:

Easy to build out nice looking reports that make tracking and presenting company trends/goals simple to do and easy to replicate on a monthly and quarterly basis. There is a good catalog of how-to videos and webinars for an easy start up.

Cons:

Forecasting has some limitations (setting up calculations dependent on unit sales across different departments/products is cumbersome) but there seem to be new features/updates that release somewhat regularly.

Cash Flow Saviour

Comments: I use it to help my clients plan their future cash flows and investments.

Pros:

Helps Forecast Cash flow in real-time and you can create different scenarios like hiring an employe or purchasing an asset and see its effect on cash flow and P&L instantly

Cons:

Unable to connect with ALL accounting Software. Only connects with Xero, Quickbooks, and MYOB. For other accounting software, you need to use Excel Sheets, which is a bit Clunky

Amazing Reporting Software

Pros:

This software really helped us streamline our reporting over our whole group of companies. A lot of the features are very logical and it is quite easy to pick up after completing there complimentary course

Cons:

There are some elements of the software that are not easily editable, such as creating a custom P&L. It is hard to create your own type of P&L could be necessary for your business

A must for real-time business accounting

Comments: A great tool for accountants, bookkeepers, and managers who are looking to elevate their real-time business intelligence

Pros:

This software enables a whole new level of intuitive, objective insights on the financial health of your business. Quick to get started with a plethora of report options. The company summary PDF is a primary feature on its own.

Cons:

Might take a bit of time for you to tag your existing financial statements to harmonize with Fathom's account structure. Once this is done, you are set!

Fathom HQ - Filling in the blanks from Quickbooks

Comments: Even though we had Quickbooks Premier for Contractors I needed a better tool to visualize our business and where it was going. Fathom fit that to a T. Super easy to setup and link to QB Desktop, and it produces beautiful visualizations and dynamic analysis. The goal seek tool is really slick too. Quickbooks would have to do a lot to make me want to cancel my subscription. Cannot comment on support as I've never needed it.

Pros:

Super easy to use. Links to online or desktop Qbooks.

Cons:

None so far.

Fathom is giving me the spotlight on my reporting

Pros:

Ease of use; flexible forecasting; dashboards

Cons:

The foreign currency translation reserve arising under IAS21 needs to be automated

Beautiful reporting

Pros:

Beautiful reports for your month-, quarter-, and year-end financials Goal-seek functionality to do scenario planning Easy to use interface to prepare a report from scratch or a template Syncs with QuickBooks Online and Xero

Cons:

Difficult to set up your own calculated formulas