Q2 Release Bulletin: Experience an Enhanced Forest Platform

Mountain View, CA: June 13, 2024

Tax season is officially behind us – it’s time to focus on exciting changes that will enhance your experience with the Forest Systems platform.

Over the next five months, we will be releasing significant upgrades to our platform. You can expect many enhancements and new capabilities between now and October 15.

Overview of Enhancements & Additional Capabilities

The enhancements we will be releasing include:

    • Multi-Factor Authentication: We take cybersecurity seriously. We want you to take it seriously also.  In the next few weeks, we will release enhancements to the Enter and View modules of Forest to support Multi-Factor Authentication (MFA) and improved password management.  

    • Forest Documents: This is a new module to the Forest Platform that securely stores documents for later retrieval.  There will be many capabilities to manage documents according to how users manage their accounting data.  These documents are then available for analysis by the Forest A. I. module. This module will require its own license separate from the core modules of View and Enter and a setup fee.

    • Forest A. I.: This module will bring high-powered artificial intelligence (A.I.) to the Forest Platform. The first applications focus on reading documents and extracting data needed for accounting for private equity investments. This module will also require its own license and a setup fee.

    • Forest Connect – Bill.com: We are committed to enabling Forest users to integrate with other applications that handle accounting data. We currently interface with investment custodians, banks, and credit card companies. This enhancement will add managing payables and receivables to this list. This module will also require its own license and a setup fee.

    • Forest Integrations: We have been approached by a number of companies who want to have access to the data managed by our clients on the Forest Platform. We consider these relationships very closely and will pursue certain cases where we see solid advantages for our clients. These integrations can be complex because we are mapping data from Forest into another application. A user must request that we integrate with another platform. We would never share your data with anyone without your explicit permission. There will be setup fees and ongoing licensing fees to maintain the interface.