Accounting Today - - Spotlight - From page 10

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.

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