Fathom vs Joiin

October 22, 2024

This comprehensive Fathom vs Joiin comparison will help you decide which financial management platform suits your business best.

Read on for a detailed, objective breakdown of how Fathom compares as a Joiin alternative, covering key features and customer support.

Fathom vs Joiin: Quick Summary

See how Fathom compares as a Joiin alternative.

Joiin
Cash flow forecasting
Management reporting
Consolidated reporting
Financial analysis
Scenario planning
Non-financial KPI tracking
Unlimited reporting outputs
Automated data syncs

Introduction

Are you looking for a financial management platform with an extensive range of features? Or are you seeking a simpler, more affordable option?

Fathom and Joiin are two leading solutions that offer vastly different capabilities, and by the end of this neutral, fact-based comparison, you’ll have a good idea which makes most sense for your business.

If you’re looking for a detailed Joiin review to understand how it stacks up against Fathom, read on to learn how these two solutions compare across features and customer support.

What is Fathom?

Fathom is a cloud-based financial analysis and reporting platform designed for businesses looking to simplify their financial processes. It allows you to generate detailed management reports, perform multi-entity consolidations and forecast cash flow.

Fathom is well-known for its visual financial analysis, customisation, scalability, extensive feature set and comprehensive customer support, making it an attractive option for accountants, franchisors, enterprises and growing businesses.

The solution was developed in Brisbane and is trusted by 80,000 organisations worldwide.

What is Joiin?

Joiin is a cloud-based financial management solution that simplifies the creation of consolidated financial statements for businesses and accounting firms.

Launched in 2018 as a cost-effective alternative to more expensive solutions, Joiin has quickly gained popularity among SMEs, boasting over 40,000 users globally.

The solution is based in the UK and is particularly attractive to businesses looking for an affordable solution to generate consolidated reports quickly, without the complexity often associated with more advanced platforms.

Comparing Fathom vs Joiin: Key Features

As a Joiin alternative, Fathom offers a more extensive range of financial management features. Let’s explore how the two solutions compare:

Fathom

Given its advanced range of financial management tools, Fathom is designed for businesses that require detailed, customisable reporting, forecasts and analysis. Key features include:

  • Multi-entity consolidation

    Fathom supports consolidation for up to 300 entities , with advanced inter-company eliminations, multi-currency support and detailed consolidation adjustments. This makes it ideal for larger or more complex organisations managing numerous entities.

  • Cash flow forecasting

    As a Joiin alternative, Fathom compares favourably for its sophisticatedthree-way cash flow forecasting tool. You can model an unlimited number of scenarios and perform live rolling forecasts to instantly see the impact of your business’s plans on cash flow.

    If you’re new to forecasting, Fathom offers free step-by-step cash flow forecasting guidesto help get you started.

  • Management reporting

    Fathom stands out for itsfast, customisable and visually engaging financial reporting. Templates and an intuitive reporting editor simplify the creation of reports, which combine commentary, charts and data.

    Fathom offers unlimited reporting outputs, which means you can generate reports of varying complexity, tailored to the needs of stakeholders, investors or clients.

    As a Joiin alternative, the solution’s more extensive feature set and compelling visuals enable you to create reports designed to impress.

  • KPI tracking and analysis

    Fathom’sfinancial analysis featureallows you to clearly present in-depth business performance across key metrics with compelling visuals.

    The solution enables tracking of both financial and non-financial KPIs, with the ability to leverage over 50 built-in KPIs.

  • Integrations

    Fathom integrates smoothly with platforms like Xero, QuickBooks, MYOB, Sage Accounting, Excel and Google Sheets, providing daily data updates.

Joiin

Joiin is a simpler, more cost-effective solution aimed at SMEs and accounting firms needing straightforward financial reporting and consolidation. Key features include:

  • Consolidated reports

    Joiin’s consolidation makes it easy to create and customise consolidated reports. The solution offers five off-the-shelf reports: profit & loss, balance sheet, cashflow, KPIs and trial balance.

    You can modify layouts, group accounts or meet specific reporting standards like IFRS, while intuitive charts and graphs offer clear visualisations.

    The platform offers flexibility to consolidate data into single lines, perform calculations, and generate customised KPIs. It can also convert multiple currencies.

  • Sales and purchasing reports

    These provide a consolidated view of sales and cash collection across your business or group of companies. You can customise reports to track gross, net or tax amounts, and keep an eye on outstanding invoices with the A/R ageing report.

    The platform allows you to track performance of specific products and offers detailed insights into bills and expenses through A/P ageing reports.

  • Budgeting and cash flow

    Joiin streamlines the integration of budget information into consolidated reports and financial presentations. You can quickly toggle between various budgets to analyse variances.

    The platform doesn’t have the advanced cash flow forecasting capabilities of Fathom but serves businesses that require simple cash flow management.

  • Inter-company management

    Joiin’s inter-company management features simplify multi-entity finances by facilitating the elimination of irrelevant data, loans and transactions between companies.

    The platform provides synchronised inter-company reports, allowing you to assign ownership percentages to entities and consolidate information for partially owned subsidiaries.

  • Global search and transactional drill-down

    This feature allows you to drill down into transactional level detail via a hyperlink which takes you to your source accounting software. You can also import transactional level data that can allow customer-level reporting.

  • Integrations

    Joiin can automatically import data from Xero, QuickBooks, Sage and spreadsheets.

Fathom vs Joiin: Onboarding and support

Both platforms offer support resources, but Fathom delivers more comprehensive online and phone assistance. Let’s look at the support services offered by each:

Fathom

Fathom offers a comprehensive onboarding support via its Help Centre, where you can access a range of ‘Getting Started’ guides featuring videos and detailed walkthroughs.

In terms of ongoing support, you can rely on a Brisbane-based customer service team who are contactable via phone, email or the in-platform messenger. The Help Centre also provides hundreds of articles, user guides, FAQs, videos and webinars.

Fathom also provides dedicated support for accountants via its Advisable platform, which features a range of articles and videos detailing best practices for delivering business advice.  

Joiin

Joiin offers onboarding and ongoing support via its online Help Centre, which features a range of user guides, FAQs and videos. You can also log support tickets to receive assistance from Joiin’s customer service team.

Conclusion: Which Platform is Right for You?

When comparing Fathom vs Joiin, the decision largely depends on your business’s size, reporting needs and budget.

Fathom is ideal for businesses and accountants seeking a highly visual, in-depth financial analysis tool with robust reporting, consolidation and forecasting capabilities.

Its advanced features and compelling visuals allow you to truly make a statement when delivering insights to clients or stakeholders. Fathom also offers extensive customer support.

Joiin, on the other hand, is a perfect choice for SMEs and accountants that need a simple, cost-effective solution for multi-entity consolidation and reporting.

If you would like to explore more about Fathom, you can try it free for 14 days. You can also discover more on our website or blog.

Ready to try Fathom?
Start your 14-day free trial. No credit card required.
Try for Free
C