Moore Kingston Smith’s outsourcing team is always looking to improve efficiency in performing multi-currency consolidations for its international clients.
Outsourcing Manager Hemant Patel implemented Fathom, saving him time and allowing him to focus on helping his clients to grow their business. We caught up with him to find out how it was benefiting them.
Moore Kingston Smith is a UK top 20 firm of accountants and business advisers. With over 60 partners and more than 500 staff based in and around London, we are a leading member of the Moore Global Network.
We would primarily use spreadsheets to consolidate, taking the information from Xero. Through doing Fathom Certification, I saw how Fathom could complement our consolidation process and our other systems. We can now help more international clients needing consolidated reporting to understand their global revenue streams, whether in the UK, the EU or the US.
Apart from dealing with foreign exchange in consolidations, Fathom delivers insight into the data beyond what could be achieved using spreadsheets and Xero at the same time. The reports are comprehensive, which is important to clients. We're also starting to do more multi-company consolidations for international groups as part of their monthly reporting pack. These consolidations are complicated because of the different currencies and different systems.
“Fathom is strengthening our relationship with clients by surfacing data quicker and creating more time to talk to clients about their business. Through Fathom, I can draw out consolidated reporting and insight at the click of a button.”
Fathom is strengthening our relationship with clients by surfacing data quicker, creating more time to talk to clients about their business. Through Fathom I can draw out consolidated reporting and insight at the click of a button. For example, with things like debtor days and creditor days, clients might ask what changes they can make to positively impact cash flow. It enables us to talk more commercially with clients, who want the all-important insight from us. Having the right management information to hand is crucial.
If you'd like to find out more about how Fathom can help your practice grow, start your free 14-day trial today or get in touch to find out more.