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Getting Started with Consolidated & Benchmarking Groups
Getting Started with Consolidated & Benchmarking Groups

Before creating a consolidation or benchmark group, check that you've setup the underlying companies

Calen Olesen avatar
Written by Calen Olesen
Updated over a week ago

Contents


Grouping companies in Fathom

If you’ve imported multiple companies into a Fathom account, then you’re able to group those companies in consolidated or benchmark groups. You can create consolidated groups and benchmark groups of companies from different source accounting systems.


Consolidated Groups

Consolidated groups allow you to combine or aggregate the financials of two or more companies to generate consolidated financial statements, analysis, reports, and forecasts.

Fathom enables you to create single currency consolidations of up to 300 companies and multi-currency consolidations of up to 50 entities.


Benchmark Groups

Benchmark groups enable you to compare companies and groups to one another so you can undertake your own proprietary benchmark studies. Typically, a benchmark group represents a franchise group or a group of related companies.

For advisors, a benchmark group may represent a group of clients which operate in a specific industry vertical (e.g. retailers, SAAS companies, medical and/or dental practices, etc.). A benchmark group may also represent all the clients in a firm. Fathom enables you to create a peer group, or benchmark group, of like companies for the purpose of comparative analysis.

You're able to have up to 500 companies in a benchmark group.

📝 Note: Fathom does not provide access to external benchmark data, or data from any external organisations. Benchmarking is only available for company data that has been imported into your own Fathom account.


Preparing to Consolidate

Setting up your consolidation starts with importing financial data from your underlying entities. Once you’ve added more than one entity to your Fathom account, the option to create a consolidated group will become available.

Fathom consolidates financials based on account name and account classification. When you create a consolidated group, Fathom will consolidate the company’s financials, budgets, and KPIs. To most efficiently set up your consolidated group, start by setting up the underlying entities.

  1. Add companies to Fathom by connecting to your source accounting system or through an Excel import. Companies can be consolidated regardless of accounting source and currency as long as they have at least one period of overlapping data.

  2. Import budget data. In a consolidation, the budgets from the underlying entities will ‘roll up’ to form a consolidated budget. For best results import any budgets in the underlying companies you wish to use in your consolidated reporting.

  3. Verify account classifications in your Chart of Accounts for the underlying companies. Fathom maps accounts in a consolidation according to account name and classification. Any changes in account naming must be done in the source accounting software.


    💡Pro Tip: If you do not wish to rename accounts that should be consolidated, you can group these accounts once you have created the consolidation, using headings.

  4. Choose and create KPIs (Key Performance Indicators) for your underlying entities. Consolidations will display only KPIs that are turned on in the underlying companies.

  5. Add custom KPIs to the KPI library. For non-financial or formula kpis, these will only appear in the group if they are saved to the KPI library.

You’re now ready to create a consolidated group from your companies in Fathom!


Preparing to Benchmark

Setting up your benchmark group starts with importing financial data from your underlying entities. Once you’ve added more than one entity to your Fathom account, the option to create a benchmark group will become available.

  1. Add companies to Fathom by connecting to your source accounting system or through an Excel import. Companies can be grouped regardless of accounting source and currency.

  2. Add custom KPIs to KPI Library. The KPIs in the underlying companies must be added to the KPI Library to display in the benchmark group.

  3. Turn on alerts in the companies that will be in the benchmark group.

You’re now ready to create a benchmark group! Go to 'Next Steps' to get started.


Next Steps

Begin the 'Consolidation Creation' or 'Benchmark Group Creation' workflows, choose from one of the options below:

Workflow:

Group type you want to create:

Consolidation Creation & Setup

Benchmark Group Creation & Setup

Start setting up your companies in Fathom first


Additional knowledge & common questions

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