18 years helping Canadian businesses
choose better software
Forestpin Analytics
What Is Forestpin Analytics?
A data analysis platform for finding irregularities, correlations, and duplications with an easy dashboard view.
Who Uses Forestpin Analytics?
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
Not sure about Forestpin Analytics?
Compare with a popular alternative
Forestpin Analytics
Other great alternatives to Forestpin Analytics
Reviews of Forestpin Analytics
Excellent software that allows you to easily filter and detect outliers.
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.
Detecting outliers made easier
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.
Customizing the analysis of company specific data sets for management information & decision making
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.
Easy tool to detect anomalies in large datasets
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.
Forestpin Usage
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.
