How Fathom changed the consolidations reporting game for Elliott Davis

We had the opportunity to chat with Patrick Arnold, Manager in Accounting Advisory Services at Elliott Davis, about the team’s experience using Fathom. In this case study, we hear:

• How Fathom simplified their consolidated reporting, replacing complex Excel workflows.
• How the software simplifies the onboarding of new acquisitions, saving time and reducing errors.
• How Fathom’s ease of use has improved internal processes and client interactions, leading to greater efficiency and satisfaction.

Website: elliottdavis.com

Number of employees: 1000+

Industry: Accounting and Advisory

HQ: United States

The Company

Elliott Davis is a leading accounting and advisory firm operating in four states across the United States. Known for their strategic planning and dashboard reporting services, they have been recognised by Accounting Today as a top 40 national firm, a top 5 regional firm in the Southeast, and a top tax firm. Patrick Arnold is a manager in accounting advisory services for Elliott Davis and focuses on enhancing the firm’s reporting capabilities

The Challenge

Previously, Elliott Davis relied heavily on Excel for consolidations, a method that proved increasingly difficult to manage as the firm grew.

"The manual process involved aggregating multiple Excel files, which was not only time-consuming but also left considerable room for error. We were never fully satisfied with the results and were constantly on the lookout for a better solution."

As new locations were added, the process became even more labor-intensive:

"The manual consolidation became more challenging with each new location or acquisition. The error margin increased, and the overall effort required was significant," says Patrick.

The Solution

Fathom provided a much-needed solution, enhancing accuracy and efficiency:

"We were never satisfied with the process. We never really liked it. We did it, but we were always looking for that new solution. All of a sudden, Fathom dropped into our laps and it really gave us that need that we've been looking for quite some time," explains Patrick.

The software transformed their consolidation process, allowing seamless data integration and real-time financial reports. Patrick notes that this transition not only saved time but also improved their ability to analyse data and provide clients with better insights:

"Fathom has transformed our consolidation process. It allowed us to seamlessly integrate data and provide accurate, real-time financial reports. The transition was not only smooth but also incredibly relieving for our team."

Fathom also facilitated the integration of new acquisitions:

"With Fathom, adding new locations and generating consolidated reports became effortless. We could quickly adapt to changes and continue providing timely, valuable insights."

The Results

1. Improved accuracy and faster delivery

"Fathom significantly improved our reporting accuracy. We no longer spend hours on manual adjustments. The real-time data integration has enhanced our ability to provide precise and timely financial reports."

2. Simplified integration

"The ease of integrating new acquisitions with Fathom has been remarkable. We now manage additional entities seamlessly, without the previous manual effort required. This capability has been crucial for our growing firm."

3. More satisfied clients

"Our clients appreciate the clarity and accuracy of the reports generated through Fathom. The software’s ability to present data in an easily understandable format has improved our client interactions and satisfaction significantly."

4. More time, thanks to improved processes

"The overall efficiency of our financial reporting process has increased. Fathom has streamlined our operations, allowing us to focus more on strategic discussions with our clients rather than on data reconciliation."

With the help of Fathom, Elliott Davis has simplified their financial consolidation and reporting processes, reducing the reliance on manual spreadsheets. Fathom’s intuitive features have made it easier to integrate new acquisitions and produce accurate financial reports. These improvements have allowed the team to work more efficiently and strengthen client interactions, focusing more on providing strategic insights rather than spending time on manual tasks.

Customer testimonial

"Fathom has transformed our consolidation process. It allowed us to seamlessly integrate data and provide accurate, real-time financial reports. The transition was not only smooth but also incredibly relieving for our team."

Are you still relying on spreadsheets for financial consolidation?

Discover how Fathom can simplify complex processes and provide clear, accurate financial insights. Try Fathom for free.

Start your free trial here.