IQ Bot Reviews

Name: IQ Bot
Brand: Automation Anywhere
Rating: 3.8 (50 reviews)

Vendor: Automation Anywhere

3.8 out of 5

50 reviews
88% willing to recommend

389 followers

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What is IQ Bot?

What is IQ Bot?

Get the IQ Bot Buyer's Guide and find out what your peers are saying about IQ Bot, ABBYY Vantage, HyperScience and more!

IQ Bot is the #4 ranked solution in top Intelligent Document Processing (IDP) solutions. PeerSpot users give IQ Bot an average rating of 7.6 out of 10. IQ Bot is most commonly compared to ABBYY Vantage: IQ Bot vs ABBYY Vantage. IQ Bot is popular among the large enterprise segment, accounting for 55% of users researching this solution on PeerSpot. The top industry researching this solution are professionals from a computer software company, accounting for 14% of all views.

Helped 845,406 peers since 2012

Featured IQ Bot reviews

Neethushree S

QA in RPA at Merck Group

IQ Bot is quite user-friendly. And the drag-and-drop option is there, which makes the developer more comfortable. Another valuable feature is whatever the code has been developed, it can be reused. Most of the codes we have had as a repository, and we reuse those codes. So that option is available, which is really very useful.

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Sunilkumar Venugopal

Head of RPA Team at Olam International

We use a defined amount of pages. We need to raise a licensing request to increase the number of pages. Around four to five teams of 10 to 15 people in the supply chain management department use the solution. We plan to increase the usage of the latest version of the tool because we are getting many projects.

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Hilal Paray.

Pre-sale Director at Omnyx International

The initial setup is straightforward. Automation Anywhere's cloud-based tools make the deployment process relatively easy compared to other solutions. The on-premises version can be deployed in about a week, as testing is involved. However, deploying the cloud version takes approximately 30 minutes since everything is pre-configured and ready to deploy.

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IQ Bot mindshare

As of April 2025, the mindshare of IQ Bot in the Intelligent Document Processing (IDP) category stands at 2.5%, down from 4.3% compared to the previous year, according to calculations based on PeerSpot user engagement data.

Intelligent Document Processing (IDP)

PeerAnalyst reports based on IQ Bot reviews

Type	Title	Date
Category	Intelligent Document Processing (IDP)	Apr 4, 2025	Download
Product	Reviews, tips, and advice from real users	Apr 4, 2025	Download
Comparison	IQ Bot vs ABBYY Vantage	Apr 4, 2025	Download
Comparison	IQ Bot vs UiPath Document Understanding	Apr 4, 2025	Download
Comparison	IQ Bot vs Automation Anywhere	Apr 4, 2025	Download

Title	Rating	Mindshare	Recommending
ABBYY Vantage	4.0	17.0%	92%	50 interviews Add to research
HyperScience	3.8	7.5%	100%	7 interviews Add to research

Valuable Features

IQ Bot excels with its cognitive abilities, effectively reading and adjusting to varied formats with minimal changes. Its powerful OCR enables seamless data extraction from documents, ensuring accuracy. Users appreciate its user-friendly interface and integration with Automation Anywhere. The tool efficiently categorizes different data types, adapting instinctively. Its flexible deployment supports diverse environments and easy management, reducing training demands. Python scripting enhances functionality, supporting custom developments. Reliable and stable with strong AI capabilities for data extraction.

"IQ Bot's connectivity to various cloud service providers is beneficial."
"The product's intelligent OCR capabilities are particularly effective for data extraction. It utilizes AI models that require only one or two templates to process all invoices."
"IQ Bot is relatively easy to use and develop."

Room for Improvement

IQ Bot requires enhancements in intelligence to manage varied document formats and improve customization. The cost is high, limiting adoption. Usability should be more intuitive to avoid reliance on specialists. Machine learning and OCR capabilities need advancement for accuracy and handling unstructured data. Integration issues persist, and documentation is lacking. Efficiency in handling handwriting and improving training processes are necessary, along with expanded support and flexibility in managing diverse document types. Additionally, pricing adjustments would increase affordability.

"Pricing is a significant concern as IQ Bot is costly. The competition, particularly with hyperscalers like Azure and AWS, offers alternatives at one-tenth of the cost."
"The solution could improve its accuracy when handling more complex documents, such as handwritten ones."
"It would be good if the solution could extract or capture details from unstructured data."

ROI

Organizations experience varied ROI with IQ Bot. Some achieve returns within a year, particularly when automating tasks like document processing. Time and cost savings are evident when using IQ Bot for complex tasks that were previously done manually. Effective use requires identifying appropriate use cases and considerations of costs, such as pricing structure and workload management. ROI is generally higher outside India due to higher workforce replacement costs. Users express concerns about affordability compared to alternatives like Azure.

Pricing

Enterprise buyers evaluating IQ Bot should note that pricing is perceived as high and complex, typically negotiated on a yearly basis. While Automation Anywhere's package with IQ Bot starts at $10,000, the cost is often higher than competitors like UiPath. Some users find the licensing and additional fees expensive, although others argue that the capability justifies the price. The pricing could be more favorable for businesses needing both simple and complex automation solutions.

"The product cost is relatively high compared to other tools in the market."
"IQ Bot is expensive compared to other solutions."
"The product’s price is always in the higher range."

Popular Use Cases

IQ Bot is utilized mainly for automating document processing and data extraction from unstructured data, particularly in finance departments for invoice processing. It enhances OCR capabilities to handle various document types like PDFs with diverse formats and handwritten images. Organizations apply it in sales order automation, back-office operations, and HR data management. Its flexibility allows adaptation to complex tasks, making it invaluable for companies seeking efficiency in handling large volumes of documentation.

Service and Support

Many users find IQ Bot customer service good, with quick responses and helpful interactions. Some highlight responsiveness within 24 hours, while others report delays and a decrease in quality over time. The support varies by region, with mixed feedback on communication and problem resolution. Agreements affect the number of tickets allowed. There are occasional delays, but when addressed, issues are usually resolved effectively. Some emphasize the need for improvement in response times and consistency.

Deployment

Many users found IQ Bot's initial setup straightforward, while others encountered complexity, citing the need for technical skills and control room costs. Some reported quick deployment, especially with cloud solutions, while others experienced delays due to configuration challenges and documentation gaps. Several users emphasized the importance of skilled personnel and strategic implementation plans, noting that effective training and clear standards can simplify deployment and maintenance processes significantly.

Scalability

IQ Bot is widely recognized for scalability, handling various users efficiently. Its architecture supports expansion, leveraging cloud and on-premises options. Configuration is essential for optimal scaling, with some users noting hardware and licensing needs. While generally promising and competitive against similar tools, scaling can involve high costs, especially for smaller entities. Many rate its scalability highly, but potential improvements are noted. Large and medium-sized organizations optimize its capabilities, utilizing it for extensive processing tasks.

Stability

Users find IQ Bot stable with positive ratings around seven to ten for stability. It performs consistently without crashing, though specific challenges like varying PDF formats affect performance. Stability is contingent on input quality, with clearer documents yielding better results. Trained personnel contribute to its reliable deployment. Stability concerns lessen as improvements occur. Users rate its stability as high as 98%, but there are suggestions for enhanced adaptability to document variation.

These insights are based on the in-depth reviews provided by peers to help you make a better buying decision.

Download our IQ Bot Buyer's Guide for additional reliable information.

Review data by company size

By reviewers

By visitors reading reviews

Top industries

By visitors reading reviews

Computer Software Company

14%

Manufacturing Company

12%

Financial Services Firm

Government

Healthcare Company

Educational Organization

Non Profit

University

Comms Service Provider

Pharma/Biotech Company

Real Estate/Law Firm

Legal Firm

Logistics Company

Media Company

Insurance Company

Retailer

Transportation Company

Energy/Utilities Company

Engineering Company

Consumer Goods Company

Wholesaler/Distributor

Recreational Facilities/Services Company

Performing Arts

Marketing Services Firm

Construction Company

Hospitality Company

Non Tech Company

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Learn more about IQ Bot

IQ Bot is a leading, highly-regarded next-generation Intelligent Document Processing (IDP) solution and part of Automation Anywhere, which is the industry leader in the Robotic Process Automation (RPA) marketplace.

IQ Bot utilizes various AI technologies, such as fuzzy logic, machine learning ( ML), computer vision, optical character recognition (OCR), and natural language processing (NLP) coupled with the strength of RPA to instantly identify, export, and authenticate information from various business documents, such as emails, invoices, receipts, charts, and more. This process is known as Intelligent Document Processing (IDP). IDP is an integral part of today’s business process. IDP and RPA work together to create an effective necessary tool to fully automate and streamline enterprise business processes.

The basic functions of an effective IDP solution are as follows:

Initialization: Business documents generally have varying levels of quality, which can have adverse effects on the data extraction process. Initialization will take appropriate steps to ensure documents are “repaired” by utilizing various methods to improve the overall document quality.
Categorization: Often, business documents contain numerous pages with several different types of documents, such as invoices, receipts, applications, etc. These all need to be properly categorized and classified.
Extraction: Generally, an IDP solution has pre-set protocol templates that can be populated with the exact field for extraction. The appropriate information is extracted from the documents and then the accuracy of the extracted information is confirmed.
Post-Processing: The final step sends the data through a process of protocol checks to help improve the overall AI procedures and improve future results. These could be automated processes or human interaction to better facilitate continued learning and improved processes as time goes on.

IQ Bot is an intuitive, intelligent, next-gen bot solution that uses multiple cognitive capabilities and is able to learn easily and rapidly from human behavior to become faster and incredibly accurate with every progressive cycle. IQ Bot integrates well with other third-party cognitive solutions, like Watson. With effective training, IQ Bot can also accurately recognize handwritten documents. IQ Bot is very easy to configure and is extremely cost-effective. Finally, IQ Bot has both on-premises and cloud options for flexible seamless deployment, lower TCO, and a quickly realized ROI. IQ Bot is the intelligent digital workforce solution for today’s enterprise business needs.

Reviews from Real Users

Vikas K., CFO at Travel Food Services ltd, relates, "The extraction feature is the most valuable one of IQ Bot."

Celestine, Director Intelligent Automation at a tech services company, tells us, "The ability to train itself is a good, valuable feature. It is one of the most stable RPA products at present. Installation is easy for IQ Bot, and they provide good technical support."

German C., PMO Manager (Peruvian Branch) at Globalhitss, says, "It is very easy to set up and use this tool to get information from documents. It can get the information about the purchase order number, average, description of purchase orders in several formats without any problem."