When it comes to reporting, we’ve tried the majority of web-based financial reporting tools out there. We’ve extensively tested Corelytics, Finagraph, SimpleKPI, and even built our own custom (and overly complex) Excel dashboard that leveraged QODBC technologies to update directly from QuickBooks Desktop and Online by the push of a button. There are a plethora of reporting choices available to connect directly with QuickBooks Online and QuickBooks Desktop. We’ve tried so many reporting platforms, Intuit’s Accountant Blog recently talked with us about our experiences.
Fathom is without a doubt the easiest to use, most robust financial reporting platform we’ve come across for QuickBooks Online and QuickBooks Desktop clients.
When one of our former clients and friends (the Founder of Analytics Pros, who serves a number of Fortune 50 clients) mentioned the Fathom reporting tool to us in late 2014, I reluctantly took a look. With Fathom, I couldn’t believe that in less than 10 minutes I had a Fathom account created, connected it to our own company’s QuickBooks Online file, and started analyzing and reporting on our data. I wasn’t wasting time generating reports, I was focusing on what was being reported and uncovering insights and actionable ideas that made sense, were easy to understand, and were graphically pleasant to look at!
Within two weeks from that first Fathom experience, we started rolling out Fathom to dozens of our clients. A year later, we consider our work with Fathom to be one of the best tools in our reporting tool belt that enables us to better serve our growing list of clients:
- A leading Seattle area cupcake retailer uses fathom to easily compare profitability and expenses by store.
- The managing partner at a top recruiting firm to Fortune 100 companies uses Fathom monthly to generate a customized financial report that he then shares with the partners at their monthly board meeting. They update Fathom often so that they can easily see budget to actual reporting in a rich graphical format that is easy to read and talk about in their meetings.
- A prominent law firm in the area of intellectual property uses Fathom to keep close tabs on key financial indicators like cash flow, quick ratio, cash in bank, and the amount of money pledged in trust compared to the amount of cash on hand in the trust bank account (IOLTA)
- A successful SaaS company’s CEO stays in touch with company financials through Fathom with easy to understand trend reports, like sales by business line, cash on hand, and 12 month rolling averages of expenses
- Many of our clients use Fathom for simple dashboard reporting so they can easily track
- A/R days
- A/P days
- Cash on hand
- Top line sales
- Net income
- Liquid cash
- EBITA growth
Fathom is without a doubt the easiest to use, most robust financial reporting platform we’ve come across for QuickBooks Online and QuickBooks Desktop clients. It’s a no brainer for us and we offer it to almost every client we serve. While every client doesn’t use Fathom to its full potential, the clients that do use Fathom proactively love it, and we sure do look like pros when we deliver a Fathom generated report in PDF to our clients. Fathom reporting has helped us to win clients, help clients present their financials to prospective buyers, and to educate boards with much easier to read reporting than QuickBooks provides.