A gateway to greater opportunities
“When we first started in 2008 — [and there’s been] lots of growth since then in the cloud accounting space — what we dreamed for and longed for back then is there’s got to be a better way to share and tell the story about a business’s financials than just the profit, loss and the balance sheet,” said Jeremy Allen, a Fathom user and founder of Seattlebased System Six Bookkeeping, which offers outsourced bookkeeping and accounting solutions for businesses. “Most of our clients have businesses that are a few million dollars a year. So, a lot of www.aps.net Pr_quote_rr_mktplace_nov2018.pdf 1 10/12/2018 1:24:38 business PM owners aren’t super-savvy when it comes to finance. A profit, loss and balance sheet may or may not be something they know their way around very easily.”
Over the years, the firm sought the ideal solution. They tried various apps, exporting data to Excel, used charts and graphs, and even built various tools for internal use. Unfortunately, nothing fully met their needs and proved scalable.
“We found that it took an hour a month to manipulate and get that report ready as we started scaling. There’s no way that would be a scalable function to do data reporting and visualization for most clients,” Allen said.
About four or five years ago, Allen came across Fathom and today uses the solution to serve most of the firm’s 120 clients. With Fathom, System Six Bookkeeping can, at minimum, provide clients a basic visual reporting of their business. This then opens the door to more complex advisory opportunities such as benchmarking, forecasting, and projections based on a rolling average or based on budget. “The way that it is now helping us change our practice, add more revenue to our firm, and making us better advisors, is that clients see the level of reporting that we can offer,” said Allen.