What’s the Best Management Reporting Software? Fathom Software Has What You Need
By: Shay James
As a small to medium-sized firm, you have a lot of things to focus on. So many you may not be sure what deserves your focus and what’s distracting you. How can you make sure you have the right priorities?
Part of knowing what to focus on is having the right metrics and tools to track your business's success. What’s your company’s revenue? What’s your level of profitability? How well are you managing cash flow?
As a manager for your business, you’re likely already asking these types of questions. But how are you getting the answers? If you’re still using spreadsheets or some other drab software that doesn’t show you anything more than endless rows of numbers, you’re definitely missing out on the insights which will help your business reach the next level.
It’s time to up your game!
Fathom software has got you covered.
What is Fathom Software?
Fathom is an in-depth management reporting and analysis software that helps you track and visualize your business data. It aims to help leaders make better decisions by providing clear financial analysis.
Some reporting visualization software will leave you asking more questions than you started with. Fathom gives you answers by presenting all relevant data in a way that is simple and easy to understand. Fathom strives to provide clear financial analysis, help you monitor trends, and gather insights that will give you clarity on your opportunities.
Fathom is used by over 60,000 businesses across the world and has captured a 4.8-star rating from users for its incredible functionality and ease of use.
Features of Fathom Software
Fathom will allow you to see your financials as you’ve never seen them before. You can leave boring spreadsheets in the dust and move on to an incredible array of data visualization options to help you make sense of company performance.
The Fathom platform will allow you to see all your KPIs in one place with its “KPI Explorer.” This tool gives a quick and clear overview of the metrics you’re making and the ones you’re missing so you can dive in where attention is needed. You can choose from over 50 common KPIs or even create your own. Every business is unique and Fathom gives you the ability to monitor what’s unique to yours!
Performance evaluation options include KPI analysis, profitability analysis, cash flow analysis, trend analysis, and more.
If you’d like to move on from having to create your own complex visualizations, now you can. Fathom allows you to effortlessly create management reports customized to your business. This gives you the ability to share clear results and tell the story behind the numbers in a way that compels action.
With Fathom you can combine data charts with commentary to perfectly suit any situation. Report templates are ready-made to help you get moving faster and you can make changes simply using Fathom’s report editing.
If you need to schedule report delivery, you can set it up so recipients receive updated reports on whatever schedule is necessary. Taking it one step further, Fathom gives you the ability to customize these reports to match your brand. You can design reports with your colors, your logo, and your feel, making it all look like it came from “in-house.”
One of Fathom’s newer features, cash flow forecasting, gives you the power to see the future of a financial decision.
Using comprehensive financial modeling, you can create forecasts which show you how your new initiatives will impact your cash flow and see how much cash you’ll have left over once you pull the trigger.
Unsure of how a particular number was determined? Fathom allows you to audit any forecasted number so you can quickly identify from where the number was derived.
And with scenario planning, you can prepare for the worst and make sure you’re covered for any possible outcome.
What once took days can now happen at the click of a mouse. With Fathom’s consolidation features, users save an average of 14 hours consolidating reporting from multiple sources (during each reporting cycle!). When compared to Fathom, other consolidation methods don’t even come close.
If you need to roll-up reports from multiple companies or consolidate reporting across more than one currency, Fathom can take care of it. With Fathom software, data stays connected to all of your source accounting systems so you can keep consolidated reporting automated and up-to-date.
Fathom has a fantastic benchmarking feature that can show you how companies in your portfolio stack up against one another. Compare how groups are performing and see results peer-to-peer.
With ranking, you can sort each business by the level of success to help you glean insight from top performers and identify issues in bottom-performing businesses.
It’s easy to share results using Fathom’s automated reporting delivery. Keep stakeholders up-to-date on what matters most to your business.
If you’re wondering whether you can input your company’s accounting data, you don’t have to worry. Fathom has you covered. With Fathom, you can seamlessly integrate your accounting data from the leading accounting platforms, such as Quickbooks, Xero, MYOB, and Excel.
Fathom Pricing Plans
Fathom has 4 different pricing plans, each of them based solely on the size of your business. Unlike other software that limits features based on the pricing plan, Fathom makes it extremely easy to choose the plan you need.
Fathom’s “Starter” plan is $44/month and allows you to see the performance of only 1 company. Each additional company you add will cost you another $44/month until you reach the next level of pricing.
The “Silver” plan gets you 10 companies at $225/month and costs $25/month more for each additional company.
Is your business even bigger? The “Gold” plan may be right for you if you’ve got 25 or more entities as a part of your company’s portfolio. At this level, you’ll pay $325/month, plus $11/month more per company.
If you and your business are 50+ and growing, you can select Fathom’s “Platinum” pricing plan which costs $575/month and only $9/month more per company after that.
Remember, each of these plans includes all features, unlimited users, and multi-channel support!
If you’re not quite sure you’re ready to pull the trigger on Fathom, they offer a 14-day free trial so you can get a visual taste of what your success really looks like.
Let Lamplight Advisors Provide Insight to Your Business
At Lamplight Advisors, we seek to give your business the clarity it needs to be successful. We know that without relevant and easy-to-understand reporting, it can be difficult to understand what’s helping your business and what’s hurting it.
To see if Lamplight can help you find success, click here to schedule a conversation today.