For years we've been hearing about new technologies just off the horizon that will radically change the way we live and work. Unfortunately, most of that futuristic tech is still nowhere to be found. Where are the flying cars we've been "promised" year after year? What about teleportation, hoverboards, and intergalactic space travel?! While it's safe to say that we have a long, long time to wait until technology like teleportation comes along, one technology that was promised, and delivered, is the financial analytics dashboard.
Dashboards vs. Analytics Dashboards
Obviously the dashboards of old aren't some groundbreaking tools that are only now being discovered and utilized. Every time you hop in a car you're greeted with a wide array of gizmos and gauges that display everything from your current speed to the car temperature to the amount of windshield washer fluid you have remaining. While car dashboards offer a fair amount of information relevant to the vehicle's performance, they're a far cry from the new analytics dashboards that have revolutionized the way people and businesses view their financial information.
It wasn't that long ago that spreadsheets were one of the few options available to organizations to see their financial data in a organized format. As most people can attest, though, spreadsheets are cumbersome and make it hard to identify key performance indicators (KPIs), trends, and potential opportunities to increase revenue or reduce overhead costs. If you've ever looked at a spreadsheet and had your eyes glaze over, then you definitely know that spreadsheets can be extremely limiting in scope and function.
Thankfully analytic dashboards, such as Fathom, are fundamentally changing how organizations view and interpret their financial data. No longer will you have to go through countless rows of numbers just to see how your organization is faring. Analytic dashboards are a game changer because unlike spreadsheets they offer a visual representation of your data and allows users to manipulate the data, in real-time, to conduct "what-if" scenarios, identify potential performance issues that could be beneficial or detrimental to the long-term success of the organization, and much more.
Analytics dashboards provide business owners and CFOs nearly limitless options to slice and dice their data. They also can consolidate all of an organization's information into one centralized location to make it easier and faster to see the KPIs and trends that are most relevant and important to the user. While there are numerous dashboard softwares available these days, not all of them are created equal.
One of the best dashboard and financial analysis tools available these days is Fathom. Porte Brown reviewed several different dashboard analysis programs prior to selecting Fathom as its go-to financial analysis tool for clients because it's easy to adopt, provides unparalleled access to one's data, and can generate presentation-ready reports that are ideal for monthly, quarterly, and annual reports.
What Is Fathom?
Fathom is a "management reporting and financial analysis tool" that can help you see the big picture of your organization. Not only does it provide business owners the tools necessary to gain greater insights into their company and identify important KPIs and metrics, it can also benchmark both financial and non-financial metrics, identify strengths and weaknesses compared to competitors, and even allows you to create your own KPIs, so you have even more control of your data.
Key Fathom Features:
- Profitability Analysis
- Cash Flow Analysis
- Trend Analysis
- Benchmarking
- Consolidation
- Custom Reports & Financial Statements
- KPIs & Metrics Tracking
- Trend Monitoring & Alerts
Are you looking to get deeper insights into your financial information? Do you need a financial analysis tool that can help you monitor performance and trends as well as identify new business opportunities? Then look no further, Fathom is the financial tool for you!
Ready to Take Fathom for a Test Drive?
Contact Porte Brown today to learn more about Fathom and what is has to offer at 847-956-1040 or shoot us a message via our contact form here.
