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Forestpin Analytics has proven to be a valuable tool for users across various industries. Its option to add business-specific criteria or …
Starting at $2,000 one-time fee
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Basic
$2,000
Cloud
one-time fee
Entry-level set up fee?
- No setup fee
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Product Details
- About
- Tech Details
What is Forestpin Analytics?
Forestpin Analytics Features
- Supported: Data Discovery
- Supported: Data Visualization
Forestpin Analytics Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Mac, Windows |
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TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
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- Pros
- Cons
Forestpin Analytics has proven to be a valuable tool for users across various industries. Its option to add business-specific criteria or thresholds allows users to capture anomalies in live datasets and take immediate actions. This feature has been particularly advantageous in optimizing the early detection of suspicious or anomalous data, especially related to extreme events. Users have reported that the prompt identification of outlier transactions through triggered alerts has been valuable in maintaining security and deterring staff from manipulating data.
Moreover, daily usage of Forestpin Analytics provides insights into an organization's business processes, highlighting areas for improvement at the ground level. By utilizing its mathematical and statistical tests, the software enhances the accuracy of accounting information and improves internal controls. Users appreciate the varied output of analytical results, finding it highly useful in internal company audits. Additionally, Forestpin Analytics has proven beneficial in forensic accounting exercises and fraud investigations by capturing anomalies early or in near real-time, minimizing losses due to fraud or incorrect data for organizations.
Furthermore, the software has improved business analytics for partner firms and user's own firm by enhancing customer profitability analysis and facilitating data analysis through the easy upload of CSV files and default dashboards provided by the software. Overall, users attest to its user-friendly interface, time-saving capabilities, and its ability to boost shareholder confidence while providing senior management with comfort regarding internal control mechanisms.
Profitability: Many users have found Forestpin Analytics to be a highly profitable tool for their companies, allowing them to record payments and invoices, regularly check their financial situation, and make real-time decisions based on the software's analysis.
Ease of Use and Customization: Users appreciate the ease of use and ability to customize Forestpin Analytics according to their specific requirements. The software's user-friendly interface and customizable features allow for a seamless experience while providing more visibility on large data sets through different data representations.
Anomaly Detection: Forestpin Analytics excels in detecting anomalous data within large data sets. Several users have praised the software's high capacity to identify outliers based on its intelligent analysis. This feature is particularly valuable during internal audits and systematic controls, ensuring that any irregularities in finance transactions such as invoicing and payments are promptly identified.
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Inadequate graphical representations: Some users have found the graphical representations of data in Forestpin Analytics to be lacking in meaning and ease of reference. This has made it difficult for them to interpret and analyze the data effectively.
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Limitation on downloading large datasets: Users have expressed frustration with the software's restriction on downloading data with more than 24,000 records. This limitation has hindered their ability to work with larger datasets and perform comprehensive analyses.
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Steep learning curve and complexity: Reviewers have noted that certain visualizations in Forestpin Analytics require mathematical and analytical knowledge to understand. Additionally, understanding the logic behind specific tests and algorithms embedded in the system takes time, making it challenging for users to fully utilize the software's capabilities.