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Pros & Cons summary

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Prominent pros & cons

PROS

IQ Bot intelligently reads customer sales orders and converts them, adapting to minor format variations.
Its cognitive self-learning abilities allow it to understand and handle undefined templates effectively.
It offers powerful character and optical character recognition features that contribute significantly to data extraction.
IQ Bot facilitates the rapid development and deployment of workflows and automation tasks, enhancing productivity.
The integration capabilities with various databases and external platforms stand out, allowing flexible and efficient data handling.

CONS

IQ Bot's price is too high and can be a barrier for some companies.
Integration issues exist, particularly with combining IQ Bot and conventional bot features from Automation Anywhere.
OCR engine accuracy is low, especially with handling handwriting and complex documents.
Support for unstructured PDFs and more domain-specific templates is lacking.
Installation complexity and high system requirements slow its deployment and performance.
 

IQ Bot Pros review quotes

VK
May 18, 2021
The extraction feature is the most valuable one of IQ Bot.
AC
Jun 25, 2020
I would say that the best feature is that it has native automation for the US.
Ashish  Tyagi - PeerSpot reviewer
Sep 6, 2022
What I found most valuable in IQ Bot is its stability because it's now getting very much stable. Automation Anywhere is continuously enhancing this product. Initially, while my team was doing the PDF automation training in IQ Bot, sometimes, the solution doesn't extract the data, but now, you can easily group the software in different folders and you can integrate with TaskBot easily. Another valuable feature of IQ Bot is data extraction. The solution makes it easy to fetch data and extract data from PDFs. Without IQ Bot, it's very tough to do PDF data extraction. Now, I can extract data from more than five hundred templates easily through the solution. I also like that IQ Bot has great functionality.
Learn what your peers think about IQ Bot. Get advice and tips from experienced pros sharing their opinions. Updated: November 2024.
816,406 professionals have used our research since 2012.
reviewer1464336 - PeerSpot reviewer
Dec 2, 2020
Good templates means that all basics are pre-defined.
reviewer1161612 - PeerSpot reviewer
Jan 19, 2023
Training the model is very simple with IQ Bot's technology. It requires providing several examples of the type of document you want to evaluate. IQ Bot already has a built-in taxonomy, which is like a dictionary of elements commonly found in certain types of documents. For example, when evaluating an invoice, you will find elements, such as "total," "item descriptions," and "shipped to." This pre-existing taxonomy greatly speeds up the training process as it provides a starting point and structure, rather than starting from scratch.
Neethushree S - PeerSpot reviewer
Jun 6, 2023
IQ Bot is quite user-friendly. And the drag-and-drop option is there, which makes the developer more comfortable.
Marco Aurelio BALDOCEDA PORRAS - PeerSpot reviewer
Jun 28, 2022
IQ Bot has helped my organization transform digital documents and files into information to be processed.
SC
Mar 2, 2021
IQ Bot is easy to use compared to some of the other solutions out there.
reviewer1355742 - PeerSpot reviewer
May 8, 2022
It offers a pretty simple setup process.
reviewer1242057 - PeerSpot reviewer
Feb 20, 2020
The efficiency with which it was able to categorize the different data types and the format.
 

IQ Bot Cons review quotes

VK
May 18, 2021
The user should be able to update the data libraries.
AC
Jun 25, 2020
The first place it could be improved is its price - it is too high. I'm having a lot of difficulty moving it to the customers.
Ashish  Tyagi - PeerSpot reviewer
Sep 6, 2022
There's still room for improvement in IQ Bot because sometimes, my team has certain types of PDFs that need to be grouped, for example, five types of videos need to be sorted to get data, but it was impossible to do in the solution. There's even an instance when I'm extracting data, for example, the invoice numbers, and I trained IQ Bot to do the extraction just for the invoice numbers, but it failed to do it. There could be some exceptions that the product developer is working on, but it could take time because sometimes IQ Bot works, and sometimes it doesn't, so the error isn't because of the developer. The error lies with the system. Another area for improvement in the solution is that during installation, it makes your machine drastically slow. It requires you to have RAM of 16 GB and a 500 GB hard disk, but that's still not enough. Slow downloading is also an area for improvement in IQ Bot because whenever you try to execute bots around 20MB to 100MB, for example, that will be downloaded from the cloud to local machines, and this process could take between seven to eight minutes, and this could be frustrating especially when you're trying to showcase it to a customer. Bot downloading into a local machine shouldn't be taking more than five minutes because it's embarrassing in front of clients. It's good that Automation Anywhere provides a cloud version for IQ Bot, but if you're unable to execute it fast, then that's not very good. I was working for one client in Brazil and there was a time I was showing the bot to them and it was taking around seven minutes to get downloaded on the local machine, and I even tried to connect with the support team, but that still didn't get me anywhere. If you're working on some code and you're executing a bot, you need to change one line and the bot will download completely, so it should be pipeline or SVN or Git. If you've downloaded a 50MB bot, you just change one variable name, but then you have to download the 50MB code again, and it makes you wonder why you need to download the complete code. You have to double-check if you already have the code in your folder, and why would you need to download it again. Only one line should be changed for the download time to decrease drastically, but right now, you need to be downloading the code completely, so if you're executing a 100MB bot fifty times, then that means it will be downloaded fifty times as well. IQ Bot is not a straightforward solution, so my team is struggling with it. Currently, my company has been doing some R&D about the solution, and it has several main problems that need to be addressed. What I'd like to see in the next version of the solution is support for unstructured PDFs because currently, it's a very good solution for structured PDFs.
Learn what your peers think about IQ Bot. Get advice and tips from experienced pros sharing their opinions. Updated: November 2024.
816,406 professionals have used our research since 2012.
reviewer1464336 - PeerSpot reviewer
Dec 2, 2020
Could improve with regard to hand-written documents.
reviewer1161612 - PeerSpot reviewer
Jan 19, 2023
The solution could improve by having more domain-specific templates, such as for documents other than invoices or contracts. For example, having templates for IDs or Passports.
Neethushree S - PeerSpot reviewer
Jun 6, 2023
Building IQ bots is time-consuming. Initially, script-wise, it would take a lot of time and also the testing of testing part of it.
Marco Aurelio BALDOCEDA PORRAS - PeerSpot reviewer
Jun 28, 2022
There are issues with the technology identifying a signature.
SC
Mar 2, 2021
I think the problem is usually tuning it up, and trying to get the best performance — that takes some time.
reviewer1355742 - PeerSpot reviewer
May 8, 2022
I would like love to see pre-trained models based on industries.
reviewer1242057 - PeerSpot reviewer
Feb 20, 2020
It's not intuitive from a user standpoint.