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Forestpin Analytics Reviews

About Forestpin Analytics

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

Learn more about Forestpin Analytics

Pros:

Easy to use and more helpful to investigate, analyse finance transactions such as invoicing, payments etc.

Cons:

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

Forestpin Analytics ratings

Average score

Ease of Use
4.7
Customer Service
4.8
Features
4.8
Value for Money
4.7

Likelihood to recommend

9.1/10

Forestpin Analytics has an overall rating of 4.8 out of 5 stars based on 39 user reviews on Capterra.

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Filter reviews (39)

Pumudika Hasani
Pumudika Hasani
Deputy Group Management Accountant in Sri Lanka
Verified LinkedIn User
Hospital & Health Care, 1,001–5,000 Employees
Used the Software for: 1+ year
Reviewer Source

Detecting outliers made easier

5.0 4 years ago

Comments: Daily usage of the software brings more light on the business processors of the organization and what needs to be improved at the ground levels.

Pros:

The software allows to analyze a large volume of data and detect any outliers based on the analysis. It is also built with machine learning where the patterns and trends in data are learnt from the customer inputs which is incorporated in the decision making. User friendly once used to the methods practiced in the software and is helpful in real time decision making for the organization.

Cons:

If the software could provide a facility to download analytics reports it would be an added advantage.

Rafael
Rafael
Jefe del departamento de Oceanografia in Venezuela
Verified LinkedIn User
Used the Software for: 2+ years
Reviewer Source

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

4.0 6 years ago

Comments: 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.

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.

Gunasinghe
Process Controller in Sri Lanka
Leisure, Travel & Tourism, 1,001–5,000 Employees
Used the Software for: 1+ year
Reviewer Source

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

3.0 6 years ago

Comments: - 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.

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.

Imtiaz
Assistant Manager - Forensic Data Analyst in Sri Lanka
Used the Software for: 2+ years
Reviewer Source

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

5.0 6 years ago

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.

RAYMON
Consultant in Malaysia
Financial Services, 11–50 Employees
Used the Software for: 2+ years
Reviewer Source

Well designed. User friendly.

5.0 6 years ago

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

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.

priyan
Senior Manager Information Security in Sri Lanka
Financial Services, 1,001–5,000 Employees
Used the Software for: 2+ years
Reviewer Source

Easy tool to detect anomalies in large datasets

5.0 2 years ago

Comments: We mostly use alerts to capture anomalies in live datasets and inform respective officers to take immediate actions.

Pros:

This tool is very user-friendly and the different data representations provide more visibility on large data sets.

Cons:

To read some visualizations users should have mathematical and analytical knowledge.

Arjuna
Arjuna
Senior Consultant in Sri Lanka
Verified LinkedIn User
Used the Software for: 6-12 months
Reviewer Source

Superb.

5.0 6 years ago

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.

Champ
Champ
Chief Data Scientist in Australia
Verified LinkedIn User
Accounting, 51–200 Employees
Used the Software for: 6-12 months
Reviewer Source

Forestpin Analytics is an ideal tool to identify outliers

5.0 6 years ago

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

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.

Ian
Ian
Co-owner and Director of Strategy in Sri Lanka
Verified LinkedIn User
Used the Software for: 1+ year
Reviewer Source

Rolling analysis of customer spend against a marketing programme.

5.0 6 years ago

Comments: Enhanced ways of looking at customer profitability.

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.

Varuni S.
Varuni S.
Business Manager in Sri Lanka
Verified LinkedIn User
Used the Software for: 1+ year
Reviewer Source

Super tool to analyse survey response.

5.0 6 years ago

Comments: 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.

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 .

Hisham
Head of Business Process Review/Internal Audit in Sri Lanka
Used the Software for: 1+ year
Reviewer Source

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

4.0 6 years ago

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.

Shoma
Associate Forensic Data Analyst in Sri Lanka
Accounting, 10,000+ Employees
Used the Software for: 2+ years
Reviewer Source

Usage of Forestpin Analytics

4.0 2 years ago

Comments: Attractive visualisation
The option to add busines specific criteria or threshold is an advantage.

Pros:

The different type of tests and outputs. The option to input any data and check on the trends and petterns.

Cons:

Restriction to download data which has more than 24000 records

Verified Reviewer
Verified LinkedIn User
Health, Wellness & Fitness, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

Forestpin Usage

4.0 4 years ago

Comments: Good and happy.

Pros:

Ease of use. Transparent Informative User collaboration at all levels ( on how it setup ) so sort out a finding

Cons:

Configuration takes time and requires significant technical know how Licensing need to start from at least 10 users

Forestpin Response

4 years ago

The number of licenses depends on the number of users, an Enterprise with multiple sites, may require at least two licenses per site. If the data is available the config takes little time. For standard systems like SAP or ORACLE the time taken is short since the data is available. If the client has a bespoke system developed by a third party, the time is dependent on the response of the third party bespoke software vendor.

Tharindu
Executive - Risk and Control in Sri Lanka
Used the Software for: 2+ years
Reviewer Source

A great product with a great team.

5.0 6 years ago

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.

Yuvaraj
Associate in Malaysia
Used the Software for: 1+ year
Reviewer Source

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

5.0 6 years ago

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

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.

Dil
Sr, Accountant in Sri Lanka
Real Estate, 1,001–5,000 Employees
Used the Software for: 1+ year
Reviewer Source

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

5.0 6 years ago

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

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

Rohana
Manager Finance in Sri Lanka
Telecommunications, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

My experience with Forestpin is really good and exciting

5.0 6 years ago

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.

Sahan
Manager - Engineering & Projects in Sri Lanka
Textiles, 1,001–5,000 Employees
Used the Software for: 6-12 months
Reviewer Source

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

5.0 6 years ago

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

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.

Amila
Manager Business Inelligence in Sri Lanka
Financial Services, 1,001–5,000 Employees
Used the Software for: 1+ year
Reviewer Source

Forrest Pin analytics in IT perspective

5.0 2 years ago

Comments: We have almost two years user this Forrest Pin SW. It has a intelligent learning part so that most of the risk basis actions to be taken without any delay.

Pros:

This is a very good intelligent software most of the Financial Risk Management are covered with this.

Cons:

Analytic Part of the Forrest Pin should be improved to enable the user to analyse the business critical arears

Gayan
Risk Officer in Sri Lanka
Financial Services, 201–500 Employees
Used the Software for: 1-5 months
Reviewer Source

Overall a great software which is user friendly and customisable

5.0 2 years ago

Comments: Overall a good experience.

Pros:

The ease of use and the ability to customise according to our requirements

Cons:

The graphical representations of data could be slightly improved to derive more meaning and for ease of reference

Harsha
Solutions Designer in Australia
Banking, 10,000+ Employees
Used the Software for: Not provided
Reviewer Source

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

5.0 6 years ago

Comments: 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.

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.

Sulanie
Lecturer in Sri Lanka
Used the Software for: Not provided
Reviewer Source

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

5.0 6 years ago

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.

Brincy
Manager Human Resources in Germany
Airlines/Aviation, 10,000+ Employees
Used the Software for: 1-5 months
Reviewer Source

Save easily always

5.0 2 years ago

Pros:

We regularly record our payments and invoices and regularly check the general financial situation of our company. It made us a huge profit.

Cons:

I don't have any problem about this application.

Kanthi
Manager, Internal Audit in Sri Lanka
Food & Beverages, 501–1,000 Employees
Used the Software for: 6-12 months
Reviewer Source

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

5.0 6 years ago

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

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.

Maheshi
AM - Group Business Process Review in Sri Lanka
Civic & Social Organization, 10,000+ Employees
Used the Software for: 2+ years
Reviewer Source

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

5.0 6 years ago

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.