Given that our CEO, Helina Patience used to be a financial analyst, it’s probably not a surprise to many of you that this is one of her favorite apps to use at Entreflow. So I absolutely love this app and it's one of those apps that I can safely say is suitable for absolutely every business and business owner. It has a super easy ratio and profitability analysis. For those of you who are a little bit rusty in your ratios, it explains what those are and also has the definitions for your clients too
Our favourite feature is the sensitivity analysis. Within the app you can do “what if” analyses to see “If we grow our sales by this much, what does that mean to our net income?”, “If we change our mix by this much, what does that mean for our net income?” and there's a whole bunch of different things you can look at, but it's literally toggling a little bar around and it gives you a really clear indicator of how you would do.
And then within the app itself, if you're sitting there with a client using the app you can actually see animation occur to show you a bigger picture of what's going on. You can also click on certain aspects to drill down and get more information which is just amazing given the amount of work that used to go into doing this in Excel.
We would love to be able to bring in non-financial data, and data from other sources like Google Analytics, your CRM information, your ERP, your Facebook analytics. Native connections brought there, or at least be able to connect data to a Google sheet so that on the non-financial KPI (key performance indicators) side of things, you can pull that data in super easily and get a bigger picture without having to manually enter anything in.
Beautiful, rapid and insightful business analytics.
Easy, beautiful and fast business analysis without the need for data exports, pivots and manual formatting. Their automatic reports show business results in a number of views to help the owner really understand their numbers and find any flaws or risks. The targets feature allow businesses to review their KPIs in real time (so long as the books are up to date). Integrations with various accounting softwares make it so fast to get results.
Although I am VERY excited about the work done on the custom reports, they still need a bit of love as the tool is a bit clunky. That said, with a bit of work, it'll do most of what you'd want it to. Also, I'd love to see some more love put into the non-financial KPI tracking with integrations to other app (google analytics, facebook analytics, CRMs, etc.)
Even though we had Quickbooks Premier for Contractors I needed a better tool to visualize our business and where it was going. Fathom fit that to a T. Super easy to setup and link to QB Desktop, and it produces beautiful visualizations and dynamic analysis. The goal seek tool is really slick too.
Quickbooks would have to do a lot to make me want to cancel my subscription.
Cannot comment on support as I've never needed it.
Super easy to use. Links to online or desktop Qbooks.
None so far.
Beautiful reports for your month-, quarter-, and year-end financials
Goal-seek functionality to do scenario planning
Easy to use interface to prepare a report from scratch or a template
Syncs with QuickBooks Online and Xero
Difficult to set up your own calculated formulas