7 Jul, 2020
Processing consolidations manually in spreadsheets takes time and can often be prone to error. Not only that, but the information might not always be the most up to date. And the problem only gets worse if you add in things like different currencies, inter-company transactions and more than a handful of entities.At Fathom, we eat these problems for lunch. Our consolidation functionality saves you time – and money – so you can spend it on doing things you're good at, like growing your business or practice.
Thousands of companies in over fifty countries use Fathom to compare their subsidiaries, branches or franchises. Fathom enables you to quickly and easily aggregate the financial and non-financial data of underlying entities, giving you an accurate, easy to manage view of the entire group’s financial results.
Consolidation in a few clicks
Consolidation, along with Benchmarking, is one of the most powerful features of Fathom. And so if you missed our recent consolidations webinar, don’t worry, we’ve made it available to watch again.
Watch now to learn more about the following:
The benefits of using Fathom to consolidate related entities
- How much time will you save? Typically 14 hours per report
- Exit Excel: there's no value in checking the formulas in an excel workbook, easily determine what the numbers mean and how to act on them.
How to create a consolidated group in Fathom
- Fathom is quick, easy, and aggregates across source system and currency
- You can have up to 300 entities in a group (50 if multi-currency), which means you’ve plenty of room to grow
Features that allow you to edit exchange rates in a multi-currency consolidation
- Fathom supports nearly 100 popular currencies
- Fathom seamlessly handles currency conversion
- Manually edit exchange rates for total control
Features which allow you to eliminate inter company transactions
- Set up intercompany eliminations for loans or management fees
- Remove the impact of transactions between companies in a group
- Get a more accurate view of consolidated performance
The Reporting and Analysis functionality for consolidated groups
- Beautiful reporting at subsidiary and consolidated level
- Compare subsidiaries for quick insights and improvement opportunities
- Analyse results and take action
Written by Andrew Webb
Andrew is Fathom’s Content Strategist based in the UK. He has a background in journalism and has worked for companies like the BBC and HuffPost, as well as start ups in education and technology. Andrew has also published 5 food books and makes a great pie.