Fathom provides advisors and business owners with beautiful performance reports and timely business insights. In this article, we share how you can use Fathom to compare and consolidate your organizations.
It’s no secret that cloud accounting software provides single-entity businesses with significant efficiency gains. Before the cloud, a lot of valuable time was spent keeping accounts up-to-date. But now, this time can be reallocated to activities that help steer a business towards competitive success. By using innovative accounting software, you'll also find there are considerable benefits for multi-entity organizations such as franchises, schools, churches and clubs.
For example, franchisors can receive easy access to the financials for the entire franchise network. Or organizations with international operations are able to keep an eye on each operation, regardless of where they are in the world. By leveraging the power of the cloud, new accounting tools aid the operational effectiveness of these businesses by helping them run better connected operations.
In addition, Fathom can assist multi-entity organizations with their business intelligence and advanced reporting needs.
Successful implementation of business intelligence often rests on two factors – easy access to data, and a rich, flexible toolset to visualize and analyze this data. Using cloud accounting software ensures the latest figures for each entity are easily accessible to decision makers; and then Fathom helps to transform these financials into a range of visualizations and insights.
Fathom provides these business insights at both the entity level (ie. to a store manager or franchisee) and also at the group level (to a franchisor or head-office).
So in addition to assessing the performance and financial health of each business entity, Fathom provides multi-entity organizations with a comprehensive reporting solution to compare the performance of each entity and consolidate the performance of a group of entities.
Performance is relative… so it is essential for a business to compare against past performance, and compare against budget, or compare against target. In addition, Fathom also enables comparison against peers.
For multi-entity organizations, it’s important to have complete visibility over the entire network of entities. Within Fathom, this visibility comes through the financials sourced from the accounting system, as well as non-financial data sourced from other systems.
Using Fathom, you can easily use this financial data to create your own benchmarks. The interactive analysis tools allow you to group your companies together, then drill down into your data, reshape your field of analysis and compare the performance of all your entities.
Simply put, Fathom helps you easily compare, rank and benchmark your companies, clients or franchisees.
For businesses with multiple entities, Fathom also provides an easy solution for consolidations. This feature helps to save time and creates accurate consolidated financial statements. These reports can be customized, branded and exported to PDF or Excel. If required, inter-company eliminations can be easily applied.
Fathom is on a mission to provide all types of businesses with tools to analyze, compare and consolidate business performance.
Get in touch today and find out how we can help you meet your objectives.