Fathom is a financial analysis and management reporting tool that uses your accounting data in Xero to help you monitor trends, identify areas to improve and assess the performance of your business.
Why would you need this when the financial reports are already in Xero?
While you could interpret the same results from the reports Xero provides in your Profit & Loss and Balance Sheet – what Fathom does is simplify the information to present a quick and easy dashboard of your financials to assist in the decision making process.
Fathom does the calculations for you.
Fathom has a library of over 50 financial KPIs that you can measure – enabling you to track performance against the budget or set targets. The KPIs are a mix of figures directly out of your accounts, and financial ratios that provide insight into the overall health of your business. When you first connect Fathom to Xero you can customise which KPIs are most important to your business, and assign a weighting of their importance.
The KPIs are groupe