As part of our App of the Month series Will Farnell had a conversation about App Advisory with Matthew Lowry from Fathom. In 30 minutes we succinctly covered:

  • What’s working for firms when it comes to advisory
  • What’s likely to change in 2020 in terms of advisory 
  • How to approach proof of concept to clients that are reluctant to pay to assist in roll-out
  • Insight into Fathom’s product roadmap 
  • Fathom’s App Advisory Plus Member Offer 
  • Key takeaways
  • Q&A

You can watch the full recording here.

Here’s the key chapters and discussion points. 

0 – Introductions

Will Farnell – Co Founder and Director App Advisory Plus, and Founder Farnell Clarke

Matthew Lowry – Head of Operations EMEA Fathom

3.00 – What’s working for firms when it comes to advisory

  • Thoroughness when it comes to due diligence for apps, understanding how an app can fit into your advisory process, and proper review of an app. 
  • Away from the app, the best firms are thinking about how it’s going to work commercially and how they’re going to market the service. i.e. bundling as part of a service line
  • Good quality reporting is based on good underlying data, so you have to solve this first before you can begin to monetise the value that the technology can provide.
  • But firms that are utilising the opportunity best aren’t just providing a report, they’re using the technology as a tool to provide advice – highlighting trends, spotting pitfalls, making recommendations – all based on good quality information.
  • Overall firms who both understand the technology and have a proper plan in place for delivering it are doing well.

7.30 – Whats likely to change in 2020 in terms of advisory 

  • More cloud accounting growth
  • More tech savvy accountants

9.25 – What are Fathom doing to help firms with Advisory

  • Time saving in generating reports 
  • Providing a vehicle to deliver the advice from the reports 
  • Easy to setup and easy to scale

We saw how the goal-seek feature can prompt a client to ask how they might achieve goals, and that can become a lead in to more practical road mapping of the clients business. 

We saw how quick and easy it is to get customisable performance reports, and to copy them across your client base.

Bench-marking with alerts that allows you as an accountant to take a more proactive approach to providing advice. 

14.55 – How to approach proof of concept to clients that are reluctant to pay to assist in roll-out

  • Fathom’s pricing is flexible, no minimum term, no lock-in to connected companies 
  • A lot of firms use one license in order to prospect a client or potential client. They connect their accounting software and use an already created template, then demonstrate the value to the client to up-sell those services on an ongoing basis

17:50 – Insight into Fathom’s product roadmap 

Recently released

  • Customisable fx rates is live, useful for multi currency consolidations
  • Tracking category limits increased from 20-60 – live 

Coming soon 

  • Multi-entity reporting improvements, imminent 
  • Forecasting is being built, will be live in 2020
  • Non financial reporting integrations (after forecasting) 

21.00 – App Advisory Plus Member Offer 

Fathom Advert

22.30 – Key Takeaways

  • Highlight your advisory expertise to your clients
  • See software as a vehicle for advice
  • Select scalable apps with great CS support
  • Existing customers, email matthew.lowry@fathomhq.com for a free T&I Discovery Call
  • Use the AAP trial offer to save time & generate £ with Fathom
  • Take a look at Advisable: https://advisable.fathomhq.com

26.00 – Q&A

Watch the webinar!

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