IT Central Station is now PeerSpot: Here's why

ABBYY FlexiCapture vs IQ Bot comparison

You must select at least 2 products to compare!
9,775 views|6,614 comparisons
Automation Anywhere Logo
5,106 views|967 comparisons
Featured Review
Buyer's Guide
ABBYY FlexiCapture vs. IQ Bot
May 2022
Find out what your peers are saying about ABBYY FlexiCapture vs. IQ Bot and other solutions. Updated: May 2022.
610,229 professionals have used our research since 2012.
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
"We have found the solution to be stable so far.""We are able to extract details from a PDF and put them into a CSV. It is able to extract the details that we are looking for. We have the Machine Learning feature to extract the data with respect to the position of the field.""There are a lot of options in ABBYY FlexiCapture, and it is very vast. I have worked with multiple OCR tools, and I found ABBYY FlexiCapture to be the most accurate tool.""The initial setup is not difficult. The vendor provides technical documents to assist with deployment.""The most valuable features have been the rate of recognition and the structured documents.""The most valuable feature of ABBYY FlexiCapture is the ability to create your own template on the fly. You can train and classify, you can work with those different templates without the need to do special programming for it or with minimum programming. Additionally, the solution is supporting the Arabic OCR, both of these combined features are the most important for us in the Egyptian market.""It saves us a lot of manual work.""The most valuable feature is the ability to capture data from documents with different formats."

More ABBYY FlexiCapture Pros →

"The most valuable features are rapid development, stability, and ease of use.""We have been using it only for two months, and so far, it is working fine. It is easy to use.""IQ Bot's most valuable feature is data migration, including Word format and legacy document templates.""The extraction feature is the most valuable one of IQ Bot.""The way that the learning combines with the OCR is the solution's most valuable aspect.""The single platform capabilities are most valuable. I don't need to go to another third-party such as Blue Prism or UiPath. They have all these other bolt-on solutions. It is a part of the Automation Anywhere platform. It is all integrated.""I like most of the algorithms that it has, such as classified algorithms. I also like the OCR engines that it provides. We get a lot of options to explore and deal with. IQ Bot has added a lot of value in terms of extracting the information. Some OCR engines have limitations in terms of extracting the information. They have recently added a new feature that allows us to add Python scripting. Earlier, we had to do the post-processing work in terms of formatting and updating the proper values, but now, we have the option to write a Python script, which is really helpful for us in terms of getting the output. We can manage everything using Python.""The ease that it provides in extracting vendor invoices, without having to configure them, was the reason for which we had gone with a solution."

More IQ Bot Pros →

"The recognition intelligence could improve by having more details in the documents. There are limitations with the forms, templates, and manuscripts.""Occasionally, we found the Machine Learning feature to be not working as per our expectations. Sometimes, it also failed to extract details from a PDF. It would be great if training batches work with 100% accuracy. I don't see any other major concerns with ABBYY FlexiCapture.""The is a long time between application updates.""Initially, it was good, but now, in terms of ease of implementation and accuracy, there are better competitors in the market. What we are seeing in some of the other tools isn't there in ABBYY. They have to improve it to include such features. Otherwise, it will be difficult for them to compete in the market.""Quite complex, particularly for those who are not tech savvy.""They should improve the RESTful API side of this solution. Currently, fully RESTful API is not available in the on-prem version, which is really a problem, and we have to work around this limitation. The cloud version already has a fully RESTful API, but the on-prem version doesn't have a fully RESTful API, which is a big mistake. It is easy to solve, but they aren't solving it quicker. They are taking a long time. Nowadays, most people don't go to the interface. They like to use RESTful API.""The accuracy changes depending on the scenario so you need to test it before committing to this solution.""The solution needs more web or cloud-based development."

More ABBYY FlexiCapture Cons →

"The quality of the service needs to be improved.""I think the problem is usually tuning it up, and trying to get the best performance — that takes some time.""When you update to a new version, you have to migrate your applications. That should be automated because it should not affect your ability to complete the task. If the version of the application changes, then you need to automate some part of that again.""There should be built-in or native intelligent processing capabilities.""The log scripts can only be written in Python, there is no compatible language.""One of the challenges that we faced was that the Automation Anywhere log files were being created and not cleaned up, which would eventually kill the bot.""There are certain things that OCR engines are not capable of handling currently. For example, OCR engines pick up a slash as a question mark. They also don't have the capability to handle subcolumns in a column. It would be really helpful if they can add more OCR engines with advanced capabilities to handle such scenarios. We need more cognitive abilities in the OCR engines to deal with the most complex scenarios. We also need more advanced capabilities so that IQ Bot can give better results in terms of PDF quality. This is because we cannot expect the same quality from all the vendors and customers, and there might be scenarios where we get some sort of scanned copies.""It was challenging to have to do the pre-processing and tax inputting on our own."

More IQ Bot Cons →

Pricing and Cost Advice
  • "For us, the price is reasonable."
  • "The price of this ABBYY FlexiCapture is a bit expensive and the price is based on how many documents have been captured. For example, one or two million captures."
  • "Its price is a little bit high and can be lower. Its licensing is very expensive. I don't remember exactly, but for each page, it is about four or seven cents, which is too expensive."
  • "Most of our customers have purchased an annual license and if you have multiple developers from other companies, you can assign the license on a monthly basis to developers."
  • "It is expensive as compared to UiPath. We pay for the licensing and the page count."
  • "It is more on the reasonable side as compared to the competition that I am aware of. I'm not an expert on pricing schemes for all sorts of things, but when we offer them a solution, we like to say we're agnostic. So, we offer more than one solution when possible. Amongst the ones that we've offered, ABBYY usually is the more reasonable solution on a big scale. On a small scale, they're all pretty similar. As far as I understand, you pay a license for a number of pages, and that's pretty much it. It has just the rate per page, and it decreases as you scale."
  • "Its price should be a little lower. It is a lot higher than the competition, and if they just break the gap a little, then more people might jump onto their product. Their price is definitely a deterrent in the few cases that I remember. They have monthly and yearly options, and if you want, they also have per project and per page options. They do charge extra for different types of installation. They have the standalone, which is pretty straightforward and a lot cheaper than the server installation. Server installation gives you a lot more, and it gives you control over the environment."
  • "The price of ABBYY FlexiCapture is better than some competitors, such as OpenText."
  • More ABBYY FlexiCapture Pricing and Cost Advice →

  • "The pricing is complicated but I wouldn't say that they are expensive."
  • "It has an average cost."
  • "There are others like Automation Anywhere offering similar kinds of bots for less. Most of the platforms are the same, and most of the features are the same, but not the licensing cost."
  • "It's expensive."
  • "There are more affordable solutions than this."
  • "I feel that the price of IQ Bot could be lower."
  • "With the Cloud, the price goes up and down. You only pay for what you use."
  • "The cost can be high."
  • More IQ Bot Pricing and Cost Advice →

    Use our free recommendation engine to learn which Intelligent Document Processing (IDP) solutions are best for your needs.
    610,229 professionals have used our research since 2012.
    Questions from the Community
    Top Answer:The most valuable feature of ABBYY FlexiCapture is the ability to create your own template on the fly. You can train and classify, you can work with those different templates without the need to do… more »
    Top Answer:ABBYY FlexiCapture could improve the performance. We are looking for better performance because it can be a lengthy capture process and the accuracy needs to be enhanced when it comes to Arabic. In… more »
    Top Answer:We are an implementor and we create solutions for our clients. One of the products that we use is ABBYY FlexiCapture. We are currently implementing a use case for capturing bank statements. Using… more »
    Top Answer:My answer is going to a bit different as I am a business user with limited programming skills 1.  Software costs including recurring fees are very important.  Automation Anywhere wants to charge a… more »
    Top Answer: I can train all the instances and properly adjust, inject Python code to find entities, and so on, and so forth.
    Top Answer:The solution is largely pretty expensive, especially for smaller organizations.
    Average Words per Review
    Average Words per Review
    Also Known As
    Learn More

    ABBYY FlexiCapture is an intelligent platform for capturing meaningful data, relationships and insights from documents, forms, and correspondence to improve business outcomes. It transforms documents into business value by capturing and validating information in any format at its point of need. Intelligently digitizing documents and automating document processes, FlexiCapture helps organizations remove risk and cost while accelerating revenue and driving competitive advantage every day.

    With ABBYY FlexiCapture You Can:

    • Easily remove manual processing friction from document intensive processes
    • Feed content-driven business applications
    • Help your organization focus more on customer service
    • Gain a competitive advantage
    • Leverage customer-provided data to accelerate transactions
    • Easily train the system to use ongoing machine learning for continuous improvements and cost control
    • Reduce your document handling costs

      ABBYY FlexiCapture Includes:
    • Multi-level documents classification: With ABBYY FlexiCapture, AI-based classifiers that are trained automatically help you automate the task of understanding, separating, and routing documents by using the latest machine learning methods.
    • Natural Language Processing: Unstructured documents such as contracts, leases, articles, agreements, and email can be captured with NLP technology. Business processes that require manual data entry can be automated, allowing you to make important document data available quickly in your business applications to save time, money, and labor.
    • Auto-learning: ABBYY Flexicapture’s auto-learning capabilities help to accelerate your time to production and also reduce ongoing system support and maintenance costs. Users train the system to process irregular or flexible document layouts and the administrator is able to retain full control to edit, fine-tune, or discard auto-learning results. Through this process, the system continuously learns and improves based on feedback from users.
    • Advanced document classification: ABBYY FlexiCapture gives you the ability to classify inbound communications by form and content to optimize your organization’s information-driven processes. Deep learning detects every incoming document type and sorts them by appearance or pattern.
    • Image enhancement: Images captured by mobile devices are automatically improved to optimize processing, making it especially useful for documents with complex backgrounds like transcripts, identification documents, and transportation forms. Regardless of image quality or source, ABBYY FlexiCapture offers tools such as auto crop, background whitening, and image quality assessment to create custom enhancement profiles for different image sources.
    • Handwritten ICR: Using advanced ICR technology, ABBYY FlexiCapture is able to recognize handwritten data; The technology can extract handwritten data in fields, marks, or full text in documents such as bills, receipts, medical forms, prescriptions, applications, claims, invoices, and other financial or transportation documents.

    ABBYY FlexiCapture Features:

    • Powerful FlexiCapture functionality in the cloud: You can select the best deployment option that makes sense for your organizational needs; It can be deployed to either cloud or on-premises.
    • Proven security: ABBYY FlexiCapture Cloud has native security features, related both to infrastructure and platform layers.
    • REST API: With ABBYY FlexiCapture Cloud REST API, external systems can upload documents and also receive extraction results, and tight integrations can be done easily with your systems. The REST API feature trains FlexiCapture by providing feedback about result quality, and develops customized verification.
    • Trusted environment: ABBYY FlexiCapture leverages its security and data protection by using Microsoft Azure, ensuring a trusted environment.

    ABBYY FlexiCapture Benefits:

    • Quick start: ABBYY can automatically learn how to classify and extract data from similar documents by simply running samples of routine documents through the system.
    • Accessible anywhere: Companies can distribute and manage relevant business processes across remote locations through a responsive web interface that’s easy to maintain and can be accessed from anywhere.
    • Document classification automation: FlexiCapture offers image, text, or rule-based classification methods that can be combined into a hierarchical system to deliver the greatest straight-through processing performance and reduced manual review. Documents can be classified into different types and variations.
    • Visual model processes: Using ABBYY FlexiCapture, you can build a “digital twin” of your business processes and identify deviations from the ideal process flow to better understand exactly how your processes execute.
    • End-to-end process visualization: Gain greater insight into the flow of your work through the process stages and also visualize the cause of delays and bottlenecks.
    • Reduced time and manual effort: Deliver faster time to value by eliminating manual processes.
    • Customer journey visibility: ABBYY FlexiCapture allows you to discover your customers’ journey and processes to understand challenges and special cases, giving you all the information you need to improve customer satisfaction.
    • Cost reduction: Easily identify improvement opportunities, reducing the cost of process evaluation.
    • Compliance risk management: Ensure compliance obligations by receiving alerts when rules are broken and following up immediately.

    Reviews from Real Users

    "The whole idea of designing your own templates is pretty much the bread and butter of the product, but that's really the best part because you can design flexible templates.” - B.R., IT Consultant at a financial services firm

    "There are a lot of options in ABBYY FlexiCapture, and it is very vast. I have worked with multiple OCR tools, and I found ABBYY FlexiCapture to be the most accurate tool.” - Saamir H., RPA Consultant at a financial services firm

    "The most valuable feature is the ability to scale for big processes. We are able to process 1 million pages a day. Its accuracy is also very nice. It is a good feature that they have. It is an independent platform, which is its biggest advantage as compared to other solutions. It is also very stable and powerful. It is 100% on time.” - Mauricio D., C Document and Data For Automation at PRTi Digital

    What is 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."

    Learn more about ABBYY FlexiCapture
    Learn more about IQ Bot
    Sample Customers
    Banque Populaire de l’Ouest, PepsiCo
    Top Industries
    Financial Services Firm44%
    Manufacturing Company22%
    Computer Software Company22%
    Transportation Company11%
    Computer Software Company24%
    Comms Service Provider17%
    Financial Services Firm13%
    Energy/Utilities Company7%
    Computer Software Company47%
    Manufacturing Company16%
    Performing Arts11%
    Comms Service Provider26%
    Computer Software Company21%
    Manufacturing Company5%
    Energy/Utilities Company5%
    Company Size
    Small Business32%
    Midsize Enterprise9%
    Large Enterprise59%
    Small Business15%
    Midsize Enterprise13%
    Large Enterprise71%
    Small Business23%
    Midsize Enterprise13%
    Large Enterprise65%
    Small Business22%
    Midsize Enterprise16%
    Large Enterprise62%
    Buyer's Guide
    ABBYY FlexiCapture vs. IQ Bot
    May 2022
    Find out what your peers are saying about ABBYY FlexiCapture vs. IQ Bot and other solutions. Updated: May 2022.
    610,229 professionals have used our research since 2012.

    ABBYY FlexiCapture is ranked 1st in Intelligent Document Processing (IDP) with 17 reviews while IQ Bot is ranked 3rd in Intelligent Document Processing (IDP) with 23 reviews. ABBYY FlexiCapture is rated 8.2, while IQ Bot is rated 7.6. The top reviewer of ABBYY FlexiCapture writes "Gives control over what goes through the system, lessens the errors, and saves time to allow the teams to focus on bigger picture things". On the other hand, the top reviewer of IQ Bot writes "Extraction feature extracts the specific data that we require from the documents". ABBYY FlexiCapture is most compared with ABBYY Vantage, UiPath, Kofax RPA, HyperScience and IBM Datacap, whereas IQ Bot is most compared with IBM Datacap and HyperScience. See our ABBYY FlexiCapture vs. IQ Bot report.

    See our list of best Intelligent Document Processing (IDP) vendors.

    We monitor all Intelligent Document Processing (IDP) reviews to prevent fraudulent reviews and keep review quality high. We do not post reviews by company employees or direct competitors. We validate each review for authenticity via cross-reference with LinkedIn, and personal follow-up with the reviewer when necessary.