Fathom Solutions
By Afkar Ventures
Initial Consultation: Understanding the client's specific needs and objectives. This phase typically takes 1-2 weeks.
Requirement Analysis: Detailed analysis of the existing infrastructure and defining the scope of implementation. This phase usually lasts 2-3 weeks.
Solution Design: Designing a tailored solution based on the requirement analysis. This includes setting up data integration points and configuring the software. This phase can take 3-4 weeks.
Data Integration: Integrating the software with existing data sources and ensuring seamless data flow. This step typically takes 2-3 weeks.
Customization and Configuration: Customizing the software to meet specific business needs and configuring settings. This phase usually lasts 2-4 weeks.
Testing and Validation: Conducting thorough testing to ensure the software works as intended and validating the results. This phase typically takes 2-3 weeks.
Training and Onboarding: Training the client's team on how to use the software effectively. This phase usually lasts 1-2 weeks.
Go-Live: Deploying the software in the live environment and monitoring for any issues. This step typically takes 1 week.
Post-Implementation Support: Providing ongoing support and addressing any post-deployment issues. This phase can last 2-4 weeks depending on the complexity.
Custom Management Reports: Users can create custom management reports tailored to their specific requirements. This includes the ability to intuitively craft reports using a simple-to-use editor and access a library of ready-to-use charts, tables, and financial statements.
Custom Templates: Fathom allows users to save their reports as templates for easy reuse in the future, ensuring that recurring reports can be generated quickly and consistently.
Custom KPIs: The platform includes a KPI builder that enables users to create custom financial and non-financial KPIs. This allows businesses to track metrics that are most relevant to their operations.
Custom Terminology: Fathom offers a Custom Terminology feature that allows organizations to create financial statements using terms that best suit their reporting requirements and preferences. This is particularly useful for non-profits and other unique organizations.
Scenario-Based Planning: Users can engage in scenario-based planning to prepare for various business conditions. This feature allows businesses to model different scenarios and understand their potential impacts.
Driver-Based Forecasting: Fathom supports driver-based forecasting, enabling businesses to create forecasts and budgets based on key operational drivers specific to their operations.
Custom Exchange Rates: The platform allows the use of custom exchange rates, which is crucial for businesses operating in multiple currencies.
Customizable Dashboards: Fathom provides customizable dashboards that can be tailored to display the most relevant data and insights for different users within an organization.
Custom Alerts: Users can set custom alerts to notify them when specific KPI thresholds are met or exceeded, allowing for proactive management.
Custom Data Integration: Fathom can integrate with various data sources, including Xero, QuickBooks, MYOB, and Excel, ensuring that it can work seamlessly with existing business systems.
Custom Visualizations: The platform offers over 90 ready-to-use charts that can be customized to present data in the most meaningful way for the business.
Custom Reports for Different Periods: Users can perform analysis for any monthly, quarterly, or annual period, providing flexibility in financial reporting.
Customizable Consolidation: Fathom supports the consolidation of financial statements for multiple entities, with the ability to make adjustments and apply inter-company eliminations.
Custom Formulas: The formula builder in Fathom allows users to define KPI formulas by referencing accounts, headings, and other KPIs, ensuring that calculations are tailored to specific business needs.
Custom Targets: Businesses can set KPI targets and evaluate performance and growth over time, providing a customized approach to performance management.
Custom Data Uploads: Users can import employee, operational, or other non-financial data to track alongside financials, ensuring a comprehensive view of business performance.
Customizable Presentation Mode: Fathom's presentation mode allows users to share analysis on the big screen in meetings or online presentations, with the ability to customize the content displayed.
Custom Microforecasts: The platform supports microforecasting, enabling businesses to model specific events like hiring an employee or purchasing an asset, and understand their financial impacts.
Customizable Access Controls: Fathom provides access controls and permissions, allowing businesses to manage who can view and edit different parts of the software.
Certification Program:: Fathom provides a free certification course designed for accountants and business users. This course covers all aspects of Fathom, from basic setup to advanced features like three-way cash flow forecasting. It is divided into five sections with multiple modules and offers 6.5 CPE credits for US professionals, as well as CPD accreditation in the UK and Australia.
On-Demand Training: Fathom offers on-demand training videos through platforms like the David Knox video library, providing 24/7 access to beginner, intermediate, and advanced training courses.
Live Webinars and Virtual Meetings: National-level training is provided through webinars and virtual meetings, covering topics such as social media, real estate business, and further education.
Quick Start Video Series: The AFT Fathom Quick Start Video Tutorial Series contains five short videos to help new users understand the basics of the interface, build models, define input, run models, and analyze results.
Dedicated Support: Fathom provides continuous support beyond standard business hours, including extended shifts and emergency call-out services available 7 days a week.
Onboarding Process: Fathom has a structured onboarding process for new users, which includes connecting calendars, answering role-specific questions, downloading and setting up the desktop app, and reviewing settings.
Customer Success Team: Fathom assigns a 'Fathom champion' within the user's team to act as a point of contact. This person needs to understand and use the platform well, and they will communicate with the customer success team to receive relevant resources and support.
Help Center: Fathom maintains a Help Center with tutorials and articles to assist users in navigating and utilizing their software effectively.
Tailored Implementation: During the implementation phase, Fathom works closely with clients to tailor their solutions to meet specific needs, ensuring a smooth transition and effective use of the software.
Encryption:
Data in Transit: All Fathom application communications are encrypted using 128-bit Secure Sockets Layer (SSL), ensuring data is protected as it travels over the internet.
Data at Rest: Data is encrypted using 256-bit AES encryption before being moved to secure offsite locations for backup.
Regular Backups: Customer data is backed up every 6 hours, with encrypted copies of daily backups stored in multiple geographic locations to aid in disaster recovery.
Cloud Infrastructure: Fathom is hosted on Microsoft Azure, a cloud platform known for its end-to-end security and privacy features. Additionally, data for US-based customers is stored in AWS cloud data centers within the United States and Canada.
Access Controls: Fathom employs multiple levels of access controls within each account, allowing users to manage who can access their data. Selected Fathom staff can access data for support purposes only with user permission.
Independent Security Audits: Fathom engages independent security specialists regularly for third-party audits, which include penetration testing, network scanning, and source code reviews.
Compliance Certifications: Fathom has achieved compliance with industry standards such as SOC 2 Type 2 and HIPAA, ensuring that their information security measures meet stringent requirements for data security, availability, processing integrity, and confidentiality.
Employee Training: All employees are trained on privacy and security during onboarding and receive regular refreshers to ensure continued adherence to best practices and regulatory frameworks. Employees use multi-factor authentication and are required to report any suspicious communication immediately.
Data Deletion: When a company is deleted from Fathom, any associated access tokens are also deleted, ensuring that Fathom can no longer access the company data through the accounting provider’s API. Data is retained in offsite backups for a period before being permanently removed.
Incident Management: Fathom has a comprehensive incident management policy that includes procedures for containing damage, protecting evidence, notifying external agencies if appropriate, and recovering systems in the event of a security breach.
Daily Automatic Updates: Fathom automatically updates financial data from integrated cloud accounting systems (such as Xero, QuickBooks Online, MYOB AccountRight Live, and Sage Business Cloud) once every 24 hours. This ensures that users' financial data is current and reflects any changes made in their accounting systems.
Regular Product Updates: Fathom regularly releases product updates that include new features, enhancements, and bug fixes. These updates are communicated through their blog and other channels, ensuring users are informed about the latest developments.
Continuous Integration/Continuous Deployment (CI/CD): Fathom uses a CI/CD process, which means that every proposed update to a software module or code base is automatically linted and tested. This approach helps in maintaining high code quality and quick deployment of updates.
User Control and Manual Updates: Users have the option to manually update their data to include the current month's results if they need more recent information than the automatic updates provide. This flexibility allows users to keep their data as up-to-date as needed for their specific requirements.
Communication of Updates: Fathom communicates updates and new features through various channels, including their blog, newsletters, and social media. This ensures that users are aware of the latest changes and can take advantage of new functionalities as soon as they are available.
User Control: Users retain ownership of their personal data. Fathom acts as the data controller for the processing of personal data, meaning they are responsible for ensuring that data is processed in accordance with applicable laws and regulations.
Data Retention: Fathom retains personal data for as long as necessary to fulfill the purposes outlined in their privacy policy or as required by law. When data is no longer needed, Fathom takes steps to securely delete or anonymize it.
Right to Data Portability: Users have the right to obtain their personal data from Fathom. This includes data that users have consented to provide or that was necessary for Fathom to collect in order to provide their services. This data can be transferred to another service provider if requested.
Account Deletion: Users can delete their Fathom account at any time. Upon receiving an account deletion request, Fathom will delete the user's recordings and personal information unless legally required to retain it. This ensures that users can control the retention and transfer of their data.
Data Transfer: Fathom may transfer personal information to related bodies corporate and third parties in foreign countries as necessary for the provision of their services. Users consent to this transfer by providing their personal information. Fathom ensures that these transfers are conducted in compliance with privacy obligations.
Security Measures: Fathom employs robust security measures to protect personal data, including encryption, access controls, and regular security audits. These measures help ensure that data remains secure during transfer and storage.
Legal Compliance: Fathom complies with relevant data protection regulations, including the General Data Protection Regulation (GDPR) for users in the European Union. This includes providing users with rights such as access, rectification, and erasure of their personal data.
Automatic Upgrades: Fathom automatically upgrades your subscription plan as you add more companies to your account. This ensures that you remain on the optimal plan without any interruptions to your service.
Custom Plans: Users can enter custom plan codes if provided, allowing for tailored subscription options that fit specific organizational needs.
Manual Downgrades: Unlike upgrades, downgrades do not occur automatically. Users must manually adjust their subscription plan if they remove companies from their Fathom account. This is to ensure that users retain control over their available company slots.
Subscription Management: Only the 'Account Owner' has the necessary permissions to access the 'Account/Billing' page and change the subscription plan. This includes selecting a new plan and confirming the changes through the platform.
Monthly Billing: Fathom bills users on a monthly basis. Any changes to the subscription plan, whether upgrading or downgrading, should be made before the next billing date to take effect in the upcoming billing cycle.
Price Changes: Prices for all services, including monthly subscription fees, are subject to change with a 30-day prior notice. This allows users to adjust their plans accordingly.
User Control: Users have the flexibility to scale their subscription plans up or down based on their current needs. This ensures that they only pay for what they use and can adjust their plan as their organizational requirements change.
Automatic Renewal: Contracts automatically renew for additional one-year terms at the end of the initial term or any subsequent renewal term unless either party provides written notice of non-renewal at least 180 days prior to the expiration of the current term.
Notice Period for Non-Renewal: Written notice of non-renewal must be given at least 180 days before the end of the current term to prevent automatic renewal.
Termination for Breach: Either party may terminate the agreement with 90 days' prior written notice if the other party materially breaches the terms and fails to cure the breach within 90 days of receiving notice.
Immediate Termination: Fathom reserves the right to terminate the agreement immediately if the user breaches any provisions of the terms or fails to make punctual payments.
User-Initiated Cancellation: Users can cancel their subscription's auto-renewal through their online account management page. Cancellation occurs immediately, and users are responsible for any unpaid amounts due prior to termination.
Effect of Termination: Upon termination or expiration, all licenses granted under the agreement immediately terminate. Both parties must return or destroy any confidential information of the other party upon request.
Transition Services: Upon client request, Fathom will provide mutually agreed-upon transition services at their then-current service fee rates to ensure a smooth transition post-termination.
Accrued Payments: Termination or expiration of the agreement does not relieve either party from obligations to pay any accrued sums under the agreement.
Fee Changes: Prices for services, including subscription fees, are subject to change with 30 days' prior notice. Users can choose to terminate their subscription before the fee change takes effect.
Surviving Provisions: Certain provisions, including those related to confidentiality, liability limitations, and intellectual property, survive the termination or expiration of the agreement.
Modification of Terms: Fathom may periodically update the terms of service, and it is the user's responsibility to review the most recent version. Substantial changes will be communicated via email or site notifications.
SOC 2 Type 2:
Description: SOC 2 (Service Organization Control 2) Type 2 certification is a widely recognized auditing standard developed by the American Institute of CPAs (AICPA). It evaluates the effectiveness of an organization's controls over a period of time.
Focus Areas: Security, availability, processing integrity, confidentiality, and privacy.
Relevance: Ensures that Fathom Solutions has robust controls in place to protect user data and maintain service reliability.
HIPAA:
Description: The Health Insurance Portability and Accountability Act (HIPAA) sets the standard for protecting sensitive patient data in the United States.
Focus Areas: Ensuring that all physical, network, and process security measures are in place and followed to protect health information.
Relevance: Compliance with HIPAA is crucial for handling any health-related data, ensuring that Fathom Solutions can securely manage sensitive medical information.
GDPR:
Description: The General Data Protection Regulation (GDPR) is a regulation in EU law on data protection and privacy for all individuals within the European Union and the European Economic Area.
Focus Areas: Data protection principles, rights of data subjects, and obligations of data controllers and processors.
Relevance: Ensures that Fathom Solutions adheres to stringent data protection requirements, providing users with rights over their personal data and ensuring transparency in data processing activities.
CCPA:
Description: The California Consumer Privacy Act (CCPA) is a state statute intended to enhance privacy rights and consumer protection for residents of California, USA.
Focus Areas: Rights of consumers regarding their personal information, including the right to know, delete, and opt-out of the sale of personal information.
Relevance: Ensures that Fathom Solutions complies with data privacy regulations for users in California, providing transparency and control over personal data.
ISO/IEC 27001:
Description: ISO/IEC 27001 is an international standard on how to manage information security.
Focus Areas: Establishing, implementing, maintaining, and continually improving an information security management system (ISMS).
