Fathom vs Reach Reporting

November 1, 2024

Trying to weigh up the benefits of Fathom vs Reach Reporting? Read on for an objective comparison of their features and customer support to decide which is the right option for your business.

Fathom vs Reach Reporting: Quick Summary

See how Fathom compares as a Reach Reporting alternative.

Reach Reporting

Cash flow forecasting

Management reporting

Consolidated reporting

Financial analysis

Consolidated data from different accounting systems

Report templates by industry

Automated data syncs

Introduction

If you’re reading this, you’re likely looking for software to automate financial reporting and provide compelling visual insights for your team or clients.

This unbiased Fathom vs Reach Reporting comparison will guide you in choosing the ideal solution for your needs, whether you’re a CFO, small to medium-sized enterprise (SME), multi-entity organisation or accounting firm.

Both platforms offer robust reporting, consolidation, forecasting and analysis features that simplify complex financial data through engaging visuals.

They’re also both easy to adopt and highly customisable, however there are key differences in their capabilities and customer support.

Read on to discover how Fathom compares as a Reach Reporting alternative and which solution best suits your business.

What is Fathom?

Fathom is a cloud-based financial reporting solution that provides powerful tools for visual financial analysis, multi-entity consolidations and cash flow forecasting.

Based in Australia, it’s trusted by over 80,000 businesses worldwide and is popular for its ease of use, customisation and comprehensive support.

Fathom is designed for SMEs, accountants, franchises and enterprises that need flexible financial management tools that simplify complex data.

Its visual reports and dashboards are built to impress stakeholders or clients, while a range of customisable templates and automation features help you save considerable time.

What is Reach Reporting?

Reach Reporting is a financial reporting platform that aims to simplify complex data with intuitive features for reporting, planning, consolidation and collaboration. The solution is based in the US and is targeted at accountants, CFOs and business owners.

With a user base in UK, North America and Australia, Reach Reporting stands out for its ease of use, automation and customisation. The platform is designed for users of all skill levels and makes it easy to collaborate easily with team members or clients via a dedicated portal.

Fathom vs Reach Reporting Comparison: Key Features

As a Reach Reporting alternative, Fathom offers many of the same features. However, there are several differences between the two solutions. Let’s take a closer look at their key capabilities:

Fathom

Fathom is known for its ability to translate complex financial data into impressive visual insights you can customise for stakeholders and clients. It’s particularly suited to multi-entity organisations and those needing comprehensive financial tools.

Some of its standout features include:

Cash flow forecasting
Fathom offers three-way cash flow forecasting with the ability to model unlimited scenarios. This feature is particularly beneficial for businesses that need to plan and test different strategies for cash management and liquidity planning.
Financial analysis
Fathom’s financial analysis tools are highly visual and customisable, offering over 50 pre-built KPIs and metrics for tracking profitability, cash flow, growth, and other key business drivers.
Multi-entity consolidation
As a Reach Reporting alternative, Fathom compares favourably for its ability to consolidate financial reports for up to 300 entities across data sources, making it ideal for franchises or businesses with multiple subsidiaries.

The platform can also handle intercompany eliminations, allowing for accurate consolidated financials across the group.
Reporting
Fathom allows for customised reporting outputs that match your brand, and its report editor is intuitive, catering to businesses that need detailed management reports.

You can choose from pre-built templates or build your own reports, incorporating engaging visuals and branded elements to make a statement with stakeholders or clients.
Integrations
With daily data syncs that keep reports up-to-date, Fathom integrates seamlessly with MYOB, Xero, QuickBooks, Sage Business Cloud Accounting, Access Financials UK, Excel, and Google Sheets.

Reach Reporting

Any Reach Reporting review will tell you it’s a platform offering robust tools for financial reporting, analysis and forecasting that you can start using without a steep learning curve.

It particularly stands out for its automation that helps eliminate manual data entry, along with its advanced customisation.

Let’s break down Reach Reporting’s key features:

Reporting
Reach Reporting enables you to analyse your actuals, budget, forecast data, or any non-financial data with highly customisable and visually compelling reports and dashboards.

With the platform’s spreadsheet-like interface, it’s simple to modify a range of templates or build your own reports. You can also add your own branding and helpful live text to provide valuable context for team members or clients.
Budgeting and forecasting
Reach Reporting offers 3-way profit and loss, balance sheet, and cash flow forecasting through its spreadsheet-like interface.

With features like multi-year budgeting, automated AR/AP/inventory planning, and customisable formulas, you can build sophisticated forecasts and track progress effortlessly.
Consolidation
Reach Reporting offers same data source financial consolidations across multiple entities and currencies.

Intercompany eliminations and currency translation differences are handled effortlessly, with the ability to drill down from consolidated to company level and filter by classes, departments, and locations.
Financial analysis
Reach Reporting provides an Excel-like environment and formulas to build financial and non-financial metrics. You can also use template metrics for insights into profit & loss, balance sheet, cash flow, sales by customer, and more.

You can drill down into each of these to gain clarity on metrics like cost of goods sold, gross profit, and specific sales drivers, with compelling visuals to quickly make sense of data.
Collaboration
Reach Reporting’s Client Portal allows clients or team members to view and interact with reports, dashboards, and forecasts in real-time, making it easier to share insights.
Integrations
The platform automatically pulls data from Xero, QuickBooks, Gusto, Google Sheets, datasheets, and CSV files.

Fathom vs Reach Reporting: Customer Support

One of the key differences between Fathom vs Reach Reporting is the support they offer. Let’s look at how they compare.

Fathom support

As a Reach Reporting alternative, Fathom stands out for its comprehensive support available through a global customer service team, with representatives in the UK. US and Australia, who you can contact via phone, email or the in-platform messenger.

You can also access support online via Fathom’s Help Centre, which features a range of ‘Getting Started’ guides, walkthroughs, videos, webinars and FAQs.

Reach Reporting support

To help you get started, Reach Reporting offers a range of training videos. It also offers email customer support via a US-based team and online support through its Knowledge Center, which features hundreds of helpful videos and how-to articles.

Fathom vs Reach Reporting Comparison: Key Takeaways

In summary, both Fathom and Reach Reporting provide strong financial reporting, forecasting and consolidation capabilities. They’re both highly customisable, offer plenty of templates and eliminate manual data entry with a range of integrations.

Fathom stands out for its easy to use, effective financial reporting tool, the ability to seamlessly consolidate up to 300 entities across different data sources and its superior scenario planning tools - all couple with its world-class global customer support team.

Reach Reporting offers an in-depth, flexible financial reporting and 3-way forecasting tool via their spreadsheet-like interface. Coupled with their visually appealing industry report templates.

To learn more about Fathom, head over to our dedicated product page for a full outline of its features. Or experience Fathom for yourself with our free 14-day trial.

Written by

Kit Morris

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.