Forestpin

Forestpin Analytics

5 / 5 32 reviews

Who Uses This Software?

Groups of companies that have larger numbers of daily transactions like payments, invoices, purchase orders Where there is a central unit responsible for checking the integrity of transactions


Average Ratings

32 Reviews
  • 5 / 5
    Overall
  • 5 / 5
    Ease of Use
  • 5 / 5
    Customer Service

Product Details

  • Starting Price
    $2,000.00/one-time/user
  • Pricing Details
    Single user version has a 15% AMC for support optional after the first year
  • Deployment
    Installed - Mac
    Installed - Windows
  • Training
    Documentation
    Live Online
  • Support
    Online

Vendor Details

  • Forestpin
  • www.forestpin.com/
  • Founded 2015
  • Sri Lanka

About Forestpin Analytics

A data analysis platform for finding irregularities, correlations, and duplications with an easy dashboard view.


Forestpin Analytics Features

  • Collaboration
  • Data Blends
  • Data Cleansing
  • Data Mining
  • Data Visualization
  • Data Warehousing
  • High Volume Processing
  • No-Code Sandbox
  • Predictive Analytics
  • Templates

Forestpin Analytics Reviews Recently Reviewed!


Capterra-loader

Excellent software that allows you to easily filter and detect outliers.

May 08, 2018
4/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Its extreme ease of use, coupled with the very high speed with which it analyzes large volumes of data, make it a highly valued software.
The high capacity to detect and identify anomalous data within a large data set, as well as the visualization of its results in personalized dashboards, I find very useful, especially for the purposes of audits and systematic controls of the data analysis process.

Cons: Although in terms of data processing I think it is an excellent software, I think there is a lot of improvement field regarding the presentation on the screen and export of the graphics obtained to other applications.

In reference to this I think you can improve what refers to the editing and view of the board, since it is difficult to "navigate", especially when you want to run a new test.

Another relevant aspect for my field of work is the inability to download the graphics that are displayed on the screen, allowing in the best case to make a "Print screen", with the aggravating circumstance in many cases that the size and style of the texts incorporated within the graphics, are not necessarily the desired, so to incorporate such graphics in a personalized presentation, you have to do a lot of extra work.

Overall: It has allowed me to optimize the activities related to the early and rapid detection of "suspicious" or "anomalous" data, especially those associated with extreme events, which in turn has allowed me to more rigorously support the possible exclusion or not of said data from the database analyzed.

"This is an extremely valuable tool. The deterrence factor will keep everyone in line"

Apr 04, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: The Artificial Intelligence component which really helps to improves the quality of outliers triggered.

The workflow mechanism which adds assurance to the senior management team/ Auditors and audit committees.

Ad-hoc capability which allows users to upload any data and analyze on their own.

It provides business units access to detail information by way of a click of a button.

No human intervention required, as the statistical and Mathematical models in-built will help management to identify outliers.

Cons: Software does not allows to download graphs which I believe is a useful feature for management to use for various presentations and forums.

Well designed. User friendly.

Apr 13, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Eliminates the reliance on IT personnel. User friendly and works on any viable platform / gadget. The software can be used by anyone without an IT or accounting background. Its ease in data importing, variable selection and dashboard customization is out of this world. Many competitors are left behind due to the mere fact that scripting is no more a requirement and user experience is given the attention it needs. Thumbs up to the developers.

Cons: Inability to generate standardized report upon computation. Believe more upgrades to the system may add to it.

Overall: Anomaly detection in the course of forensic accounting exercises / fraud investigation.

A good tool that anyone can use, to focus on what really matters. i.e. the data.

Apr 09, 2018
4/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
4 / 5
Value for Money

Pros: Multiple tests, each giving differential visual perspectives depicting varying contexts which will help the user, to quickly identify potential outlier/s & within a few clicks, zero in, on the transaction/s, for further investigation. The quality of output improves, as the transaction population increases and the new-normal is always dynamic (vs. user parameter driven) and is contingent upon the operating context that is reflected by the transaction throughput upon which potential outliers are presented.

Cons: Whilst data volumes are essential to deliver statistical rigor, in light of changing operating circumstances, dated data has the potential to skew the quality of outputs. As such, the tool would benefit by having built-in algorithms that identify the optimal data volumes and trigger a data purging mechanism on the data whose relevance is reduced, within the current circumstances.

A great product with a great team.

Apr 13, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: It is a great fit for internal auditors and finance managers to identify irregularities of the data sets. Product is very easy to use and responsiveness of the team is great. Analytics such as time series, correlations, Benford's law test and duplication test have been highly used in planning stage of the audits. Specialties of the product are editable dashboards and the ability to perform multiple tests simultaneously.

Cons: Reports only can be converted to csv files. It is more continent, if it can be converted to excel files.

Customizing the analysis of company specific data sets for management information & decision making

Apr 17, 2018
3/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
3 / 5
Value for Money
Likelihood to Recommend: 7.0/10 Not
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Pros: All transactions that are processed in the business applications goes through mathematical and statistical tests that will provide added security.

Cons: - Prompt identification of outlier transactions.
- Greater accuracy of accounting information.
- Deterrence among staff to manipulate information.

Overall: - Prompt identification of outlier transactions as the alerts are triggered when unusual transaction occurs.
- All transactions that are processed in the business applications goes through mathematical and statistical tests that will provide added security.
- Greater accuracy of accounting information.
- Deterrence among staff to manipulate information.
- Enhances share holder confidence and for the senior management to gain comfort on internal control mechanism.

Capterra-loader

Superb.

Apr 13, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: An excellent product that addressed a critical analytical need of organizations with large transaction volatility. The analytics are truly exceptional for anomaly detection. I also found the collaboration functions useful for my distributed network of business locations.

Cons: There is little to complain about with this software since so far, it has performed up to my expectations and has delivered on its promise.

Capterra-loader

Forestpin Analytics is an ideal tool to identify outliers

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: East of use. Customizable Dashboard. Clear Graphics and visualization. Data Integration and deployability in different geographical sparsed locations.

Cons: There is no specific shortcomings seen. All seems to be integrated and working fine. Looking forward to see the presence in Australia soon.

Overall: This is ideal to identify shortcomings in payments, identify fraudulent uses, discrepancies in financial handling via outliers.

Capterra-loader

Rolling analysis of customer spend against a marketing programme.

Apr 09, 2018
5/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: It's not the usage so much as the benefits it gives. Partnering with a loyalty programme (mobile or card), purchase analysis against demographics and marketing programme efficiency analysis are the 3 key areas for me. To be able to go so deep into the purchase possibilities and opportunities and have it presented in a clear and east-to-view manner is refreshing.

Cons: The inability to export graphs into ppt. The small type size of the on screen reports make it a little difficult to read for the 50+ user.

Overall: Enhanced ways of looking at customer profitability.

Simple and effective. Test results are easily filtered and segregated without any form of scripting

Apr 01, 2018
5/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
4 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: The possibilities of the test are endless in terms of comparing and segregating groups of data. Two to three analysis can be combined to obtain specific trends anomalous transactions. Multiple datasets can be analysed simultaneously and all datasets used in project ends up giving the dashboard a n "ecosystem" feel. This is where information can be filtered based on data in one dataset A to view the results of the analysis based on information in dataset B. In terms of data, we have had no issue testing it up to 500,000 entries without any implication to the speed of analysis.

Cons: Takes a bit of time before you get used to the interface. Although tests and algorithms are embedded into the back end of the system, a user would need time to understand the logic behind the way a particular test is run.

Overall: Improved business analytics for partners firms and own firm.

User friendly and easy to detect irregularities without going into detailed reports.

Apr 15, 2018
5/5
Overall
4 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: Ability to identify issues (if any) then and there without waiting for the year end or audit observations
Easy access to detailed information / graphs etc.
Ad-hoc reports

Cons: showing repetitive transitions as a possible error. eg - rent payment - every month it's the same amount and system identifies it as a duplicate payment. each time clarifications has to be provided.
inability to download information if necessary for management info

Overall: Timely information on errors , duplication of transactions etc.
Improve on internal controls

My experience with Forestpin is really good and exciting

Apr 12, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: the analytics provided by this software is really good and I gives us the ability to see the relationships among functions

Cons: There are a lot of s analysis which is in similar nature if they can appropriately consolidate those areas it will enhance the user applicability.

A real gem of a software in terms of in-depth data analysis ...

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: The use of multiple tests across the board by this software ensures that the required data that's to be analysed is done in many contexts. This allows the software to pin point any anomaly efficiently to the user. Extremely useful during internal audits.

Cons: it would be good if all key reports given in the dashboard are made downloadable, as this would help the user in constructing internal company reports through data from the software rather than take screenshots of each chart.

Overall: Its user friendly, give a varied output of analytical results, and as a key analytical software, is highly useful in internal company audits.

Capterra-loader

Super tool to analyse survey response.

Apr 08, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: I like the way the editable dashboards are automatically created with after mapping fields.
One the default Dashboard gets created after I upload data. I can copy and make dashboard and edit it. When I upload survey responses from the csv file. I can do all my work with the default dashboard which gets created.

Cons: There are a of complex tests with names like compare timelines correlation, I wish they have a lot more youtube clips explaining the product .

Overall: I upload csv files of survey results and use the default dashboards that get created to analyse data. Once the fields are mapped to numbers, dates and ID's automatic dashboard with a lot of options gets created.

A powerful analytics toll that is intuitive and easy to use.

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Super fast. As you upload the data you automatically get a prebuilt dashboard. A lot can be done without editing the default dashboard. The composition analyses is excellent to identify one off occurrences.

Cons: Not enough you tube videos available. Some of the videos show older versions of the analyses. Since most of the analyses are complex detailed videos are needed, most of the available videos are less than 3 minutes.

Overall: I can see the potential that this software has and it will be immensely beneficial to organisations to capture anomalies in the data early or in near real time and thus minimise the losses that they may otherwise incur due to fraud or incorrect data.

Good software to analyze data, conduct filters, to find irregularities in your data set.

Apr 09, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
3 / 5
Customer Support
5 / 5
Value for Money

Pros: It develops out of the box thinking in financial analysis, also it applies theories such as the Benford's law into practice and we are able to see the practical applications of such laws.
All the different tests involved in analyzing data. Specially the quadrant test, matches test, Box view test, identify duplicate records

Cons: You can't edit the dashboard by clicking the back button, You have to go all the way from the beginning again.
When a new test is applied hard to analyze the new test box in the dash board. If possible please try to enhance the view of the dashboard.

very convenient tool and it's detect the irregularities of transactions.

Apr 17, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Easy to use and more helpful to investigate, analyse finance transactions such as invoicing, payments etc.

Cons: improvement of the dash board is needed by including many options which helps users to analyse the data.

Overall: Very much time saving and no need to go through manual records and excel sheets for analysis. Its highlight the unusual transactions.

This a very user friendly tool which gives you real time information for management decision making.

Apr 09, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 9.0/10 Not
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Pros: 1. User friendly tool
2. User doesn't need to understand the logic behind the tests to use it
3. Availability of different types of tests
4. Availability of an adhoc tool for us to upload data and evaluate.

Cons: 1. It allows only to take screen shots of the graphs therefore, we are unable to download it (graphs )directly from the dashboard.

A Very Good Tool for Analysis

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 8.0/10 Not
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Pros: Analysis same data in several dimensions, issue alerts for most critical issues which is in summary version but with details to analyze.

Cons: No such drawback identified yet. But the the easiness of using the system can be improved. And some areas can be issued more filters.

A productive tool for middle layer and the top layer of the Management

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: This is a very good tool to do analytics which supports strategic decision makers as well as tactical level to take operational decisions.

Cons: Product can be more user friendly and can be improved to analyse details with more and more filters to drill down further

An innovative software application that makes investigations easy.

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: - Ease of use
- high speed analysis of large volumes of data
- intuitive graphical reporting
- application support

Cons: - not very flexible when it comes to customisations.
- identifies good records along with the fraudulent ones.

Capterra-loader

Forestpin is an excellent tool for detecting abnormal data in a large data set.

Apr 13, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: Ease of finding abnormalities in extemely large data sets and being able to analyse the data at a much higher level

Cons: Haven't come across anything I didn't like. Probably would be good to see some fuzzy-logic and AI embedded for the option of pattern recognition and further analysis on data quality also

User friendly and effective.

Apr 11, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: It is easy to use with well designed dashboard, tests results can be filtered. Picks up irregularities and duplicates.

Cons: I have not noticed major cons so far, however there are limited reviews available currently on line.

Overall: Effective analysis.

Convenient and easy to use

Apr 09, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: Real applications into analytics and below are some of the tests i found interesting:
01) Time Series view
02) Composition
03) Box View
04) Quadrant view

Cons: I feel the arrangement of the dashboard need a bit of improvement as sometimes it is difficult to recognize the proper chart/table corresponding to test.

Capterra-loader

Very impressive product! Never thought it would be this easy to learn, use an analytic product.

Jun 26, 2018
5/5
Overall
4 / 5
Ease of Use
4 / 5
Features & Functionality
4 / 5
Customer Support
4 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: User friendliness
Fast response time with big data
Grovy flat interface (love it)
Easy learning

Cons: I trust this product can be used to analyze big data other than financials. Hope ForestPin can explore this avenue and add more examples to their site.

Overall: Forecasting future changes.

My experience with this software was very unique compared to other alternatives. Very user friendly.

Mar 31, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: Overall, I like all the features the software provides. Especially, it allows you to expand your thinking from traditional analytical thinking. The features like quadrant, box view and stratify provide very out of the box thinking and are very interesting.

Cons: It is a bit hard to navigate through the dashboard, especially when you run a new test, it is a bit difficult to figure out where the default chart/table is.

User-friendly interface and good tutorials to get embarked!

Apr 16, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money

Pros: The interface is neat and clean and the dashboards are well divided and placed. The analytics are helpful and the feedback is on time!

Cons: The interface is neat and clean and the dashboards are well divided and placed. The analytics are helpful and the feedback is on time!

Great user-friendly product!!

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: It has a great well-designed dashboard and helps to identify duplicates and irregularities quite easily!!

Cons: I have just started trying the product, so no cons Identified so far. More training material online might be helpful too...

Looks good

Apr 15, 2018
4/5
Overall
3 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Customer Support
3 / 5
Value for Money
Likelihood to Recommend: 6.0/10 Not
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Pros: Machine learning capabilities to narrow down picks and issues which reduces endusers time. Look and feel also very good

Cons: Daily Erroneous picks by the systems otherwise looks good to use . Little fear of data on the cloud .

It gives me the flexibility and convenience working with large databases repetitively.

Apr 16, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: Speed when working with very large databases/files. Ease and accuracy in forensic data analytics, etc

Cons: Would be super if we could perform simple calculations under adhoc analysis although the main purpose is outlier/forensic analysis.

An easy to use tool. Quick and easy forensic analytics which can be used by multiple industries

Apr 15, 2018
5/5
Overall
5 / 5
Ease of Use
4 / 5
Features & Functionality
5 / 5
Value for Money

Pros: Simple to use and does not require technical knowledge. One of the least complicated solutions available in the market.

Cons: The look and feel of the dashboards can be further improved to meet sophisticated professional demands

Although we have worked a little period with this company, we had a good experience and have faith

Apr 16, 2018
5/5
Overall
5 / 5
Ease of Use
5 / 5
Features & Functionality
5 / 5
Customer Support
5 / 5
Value for Money
Likelihood to Recommend: 10.0/10 Not
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Pros: We can analyze large data set and summarized it as our wish. Also we can track errors easily to do the modifications.

Cons: At the moment still we are in early days to comment about this since we are just under 06 months users