October 22, 2024
This article provides a detailed, objective Fathom vs Power BI comparison, focusing on the financial analysis and reporting capabilities of these two leading platforms.
By the end, you’ll have a clear understanding of which solution best fits your business’s needs.
See how Fathom compares as a Power BI alternative.
Are you looking for a financial analysis and reporting platform that balances ease of use with powerful insights? Fathom and Power BI are two leading platforms that can help.
Fathom is purpose-built for financial reporting, analysis and forecasting, making it a go-to solution for accountants and business owners.
Meanwhile, Power BI is one of the world’s most popular business intelligence and data visualisation solutions. The platform can be used to gain insights into any kind of business data, and is particularly powerful for financial reporting, analysis and forecasting.
In this Fathom vs Power BI comparison, we explore how each platform handles financial management, breaking down their features and customer support.
Fathom is a cloud-based platform designed to simplify complex financial processes for small to medium-sized enterprises (SMEs), accountants and multi-entity organisations.
As a Power BI comparison, Fathom compares favourably for its tools specifically designed for financial management. It enables consolidated reporting for multiple entities, pre-built reports and KPIs, and cash flow projections you can create in minutes.
Trusted by over 80,000 organisations worldwide, Fathom’s key strength lies in its visual reports and dashboards, intuitive design, advanced customisation and comprehensive customer support.
Power BI is a business intelligence and data visualisation platform developed by Microsoft. It enables users to connect to various data sources, transform raw data into meaningful insights and create interactive reports and dashboards.
While not exclusively designed for financial management, Power BI offers robust tools that can be tailored for financial reporting, forecasting and analysis. The platform is used by over 100,000 organisations worldwide.
Fathom and Power BI both offer compelling visualisations of financial data, customisable reporting and scenario-based projections, but they differ in important ways. Let’s look at how their features compare:
As a Power BI alternative, Fathom stands out for its purpose-built financial management features you can quickly utilise out-of-the-box. Here, we explore its key capabilities:
At its core, Power BI enables you to connect, model and visualise data from various sources.
When it comes to financial management, the platform’s strengths lie in its ability to automate mundane tasks and provide real-time financial reporting, forecasting and analysis.
Let’s break down its primary capabilities:
Any Fathom vs Power BI comparison needs to discuss the setup and ongoing support offered by the two solutions. Let’s look at how they compare:
To help you get started with the platform or resolve any issues, Fathom provides dedicated phone and email support via its Australia-based customer service team.
You can also access hundreds of step-by-step guides, FAQs, webinars and articles in its extensive Help Centre. Meanwhile, Fathom’s Advisable platform offers accountants a wealth of insights into business advisory.
You can request support from Microsoft online via the Power BI admin centre within the platform.
Users are encouraged to first seek help via the comprehensive Power BI online help centre, which includes a range of troubleshooting and how-to guides, in addition to Microsoft’s extensive community forums.
As a Power BI alternative, Fathom stands out as a purpose-built financial management tool, designed specifically for accountants, SMEs and franchisors.
This means you can start using its reporting, consolidation and forecasting capabilities right away, without significant setup or a steep learning curve.
Fathom offers advanced out-of-the-box functionality that specifically caters to the needs of finance teams and accountants, who can save considerable time with a wealth of templates and automation features. You can also rely on phone support via an Australia-based team.
On the other hand, Power BI offers powerful features you can customise for financial reporting, analysis and forecasting.
The platform is very flexible and enables you to generate highly interactive and visual reports. It also helps automate many manual tasks and is easy to adopt for those familiar with spreadsheets.
However, given Power BI isn’t exclusively designed for financial reporting, you’ll need to invest time in setting it up for that purpose.
To learn more about how Fathom fares as a Power BI alternative, you can start by visiting our dedicated product page or reading our customer testimonials.
You can also try Fathom free for 14 days and access even more insights on our blog.
Kit is the Content Marketing Manager for The Access Group APAC and Fathom. He is a former journalist with extensive experience in content writing and copywriting across various industries, including higher education, not-for-profit, and finance sectors.
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