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IQ Bot Reviews

Vendor: Automation Anywhere
3.8 out of 5
294 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, UiPath Document Understanding 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 15% of all views.
Buyer's Guide
IQ Bot
May 2025
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IQ Bot mindshare

As of June 2025, the mindshare of IQ Bot in the Intelligent Document Processing (IDP) category stands at 2.5%, down from 3.8% compared to the previous year, according to calculations based on PeerSpot user engagement data.
Intelligent Document Processing (IDP)

PeerResearch reports based on IQ Bot reviews

TypeTitleDate
CategoryIntelligent Document Processing (IDP)Jun 2, 2025Download
ProductReviews, tips, and advice from real usersJun 2, 2025Download
ComparisonIQ Bot vs ABBYY VantageJun 2, 2025Download
ComparisonIQ Bot vs UiPath Document UnderstandingJun 2, 2025Download
ComparisonIQ Bot vs Automation AnywhereJun 2, 2025Download
Suggested products
TitleRatingMindshareRecommending
ABBYY Vantage4.015.4%93%51 interviewsAdd to research
UiPath Document Understanding4.012.5%91%52 interviewsAdd to research
 
 
Key learnings from peers

Valuable Features

IQ Bot excels in AI-driven data extraction, handling diverse document formats and integrating easily with existing platforms. Users value its optical character recognition, self-learning capability, and ability to differentiate between documents. The tool simplifies data migration and supports Python scripting for enhanced functionality. Its user-friendly interface allows for rapid deployment and customization. Integration with Automation Anywhere provides seamless operation, making IQ Bot a preferred choice for transforming unstructured data into structured formats.
  • "In my experience, the product is very stable, and it works well with systems like JDE and Mainframes."
  • "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."

Room for Improvement

IQ Bot requires improvements in handling diverse document formats, enhancing customization and mapping capabilities. The cost is considered high, impacting adoption. Users find the system non-intuitive, necessitating specialist involvement. Machine learning features need expansion to increase accuracy, especially for handwriting and unstructured data. Integration with third-party tools and better documentation would be beneficial. Enhancing scalability and reducing complexity in installation and setup are also areas for improvement.
  • "Customer service and support are good and supportive. However, their response time could be improved, especially for new issues not found in the community version."
  • "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."

ROI

ROI from IQ Bot varies, primarily depending on document volume and use case understanding. Clients usually see returns within a year, experiencing reduced full-time equivalent and time savings. Successful implementations are common when automation expectations are realistic, with advantages being clear in document processing tasks. The cost of implementation can influence ROI, especially when considering regional labor costs. Despite competitive pricing concerns, IQ Bot effectively boosts efficiency and provides measurable savings.

Pricing

IQ Bot pricing is variable and often negotiated, with annual licensing costs generally higher than competitors. Though starting packages with Automation Anywhere and IQ Bot are set at $10,000 USD, many users find the costs high compared to alternatives like UiPath and Power Automate. The complexities of IQ Bot can justify the expense for some enterprises, but smaller organizations may find it cost-prohibitive. Pricing is often viewed as needing improvement, despite positive performance outcomes.
  • "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

Users employ IQ Bot primarily for automating sales order processes, enhancing OCR in automation, and processing documents with unstructured data. Common applications include extracting data from invoices, PDFs, and scanned documents across various formats. Companies apply IQ Bot for tasks like invoice processing, HR data input, and extracting details from purchase orders. Users also integrate IQ Bot with other bots for efficient document handling and management in industries like finance and supply chain management.

Service and Support

Users find IQ Bot's customer service and support to be generally good, highlighting responsiveness and effectiveness. Many report satisfied interactions, resolving issues swiftly. Some note delays in response times and a need for better accuracy in solutions provided. Support quality has been inconsistent, with some instances of slow responses affecting satisfaction. Support is available in different tiers, and users appreciate this segmentation. A few mention the importance of the contractual support level in their experience.

Deployment

IQ Bot's initial setup experiences vary, with some finding it straightforward and uncomplicated, especially for those with technical skills or previous experience. Others describe a more complex process, citing issues like server configurations, lack of documentation, and SSL certificate errors. Deployment times also differ significantly, ranging from a few days to several months. Cloud-based solutions are perceived as easier, while on-premises installations require more time and technical expertise.

Scalability

IQ Bot is highly scalable, supporting medium to large enterprises with various user capacities. Users appreciate its seamless scalability features and performance consistency. Management and configuration can be challenging, but adherence to best practices improves stability. Some concerns include security and cost considerations for smaller enterprises. Advanced options like load sharing and integration with cloud services enhance scalability, while utilization depends on architecture and configuration. Users find it competitive against similar platforms.

Stability

Many users find IQ Bot very stable, citing no major issues or crashes. Ratings vary, with some giving it eight or nine out of ten. The stability depends on factors like document quality and user experience, which can affect performance. Certain users note that while the bot performs reliably, improvements are needed for handling different PDF formats. Despite some minor challenges, IQ Bot remains stable with high-level usability.
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
15%
Manufacturing Company
10%
Financial Services Firm
8%
Government
7%
Healthcare Company
5%
Pharma/Biotech Company
4%
Non Profit
4%
Educational Organization
4%
Legal Firm
4%
University
4%
Insurance Company
3%
Comms Service Provider
3%
Logistics Company
3%
Retailer
3%
Transportation Company
3%
Real Estate/Law Firm
3%
Media Company
3%
Engineering Company
3%
Energy/Utilities Company
2%
Wholesaler/Distributor
2%
Performing Arts
1%
Recreational Facilities/Services Company
1%
Marketing Services Firm
1%
Hospitality Company
1%
Construction Company
1%
Non Tech Company
1%
Consumer Goods Company
1%

Compare IQ Bot with alternative products

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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."

IQ Bot customers

Synergy

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Product Categories

Product Categories
Intelligent Document Processing (IDP)

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IQ Bot reviews

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RP
Director of Global Automation at a tech services company with 10,001+ employees
Verified user of IQ Bot
Mar 7, 2025
Valuable connectivity and coherent solutions simplify maintenance but require cost adjustments for industry-based needs

Pros

"IQ Bot's connectivity to various cloud service providers is beneficial."

Cons

"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."

What is our primary use case?

Our primary use case for IQ Bot is mostly for document processing for our clients.

What is most valuable?

IQ Bot's connectivity to various cloud service providers is beneficial. Automation Anywhere offers a coherent solution with its automation tools, making maintenance easier. The simplicity of an all-in-one solution is also a valuable feature, along with incentives such as credits for AI services.
*Disclosure: I am a real user, and this review is based on my own experience and opinions.
Read full review (398 words)
JS
Executive Director at a tech services company with 11-50 employees
Verified user of IQ Bot
May 10, 2025
Process automation in manufacturing and accounting benefits from session identification features

Pros

"In my experience, the product is very stable, and it works well with systems like JDE and Mainframes."

Cons

"Customer service and support are good and supportive. However, their response time could be improved, especially for new issues not found in the community version."

What is our primary use case?

We are implementing SAP process automation in various segments such as manufacturing and accounting. This includes tasks like purchase request generation and project ID creation.

What is most valuable?

The option to explicitly mention session numbers, such as session one or session two, is beneficial because it helps me easily identify objects or actions in a specific session. This feature is particularly useful when dealing with multiple workbooks or Excel sheets, as it prevents confusion about which Excel sheet to use at a particular time.
*Disclosure: I am a real user, and this review is based on my own experience and opinions.
Read full review (479 words)
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Find out what your peers are saying about IQ Bot. Updated May 2025
853,868 professionals have used our research since 2012.
Hilal Paray. - PeerSpot user
Pre-sale Director at Omnyx International
Verified user of IQ Bot
Aug 16, 2024
Has valuable OCR capabilities and a straightforward setup process

Pros

"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. "

Cons

"The solution could improve its accuracy when handling more complex documents, such as handwritten ones. "

What is our primary use case?

Our use case for this platform involves automating the processing of vendor invoices. We can fetch the content from invoices automatically and enter it into the SAP system using an RPA bot. This reduces the processing time from three person-hours per invoice to approximately 15 minutes, eliminating the need for human intervention.

What is most valuable?

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.

Previously, we used ABBYY FlexiCapture, which required separate templates for every invoice. 

*Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
Read full review (413 words)
Neethushree S - PeerSpot user
QA in RPA at Merck Group
Verified user of IQ Bot
Jun 6, 2023
User-friendly and code reusability feature for efficient utilization of existing code repositories

Pros

"IQ Bot is quite user-friendly. And the drag-and-drop option is there, which makes the developer more comfortable."

Cons

"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. "

What is our primary use case?


What is most valuable?

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.

*Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
Read full review (842 words)
Sunilkumar Venugopal - PeerSpot user
Head of RPA Team at Olam International
Verified user of IQ Bot
Nov 29, 2023
A stable and flexible product that provides excellent PDF classification and data extraction features

Pros

"PDF classification and basic data extraction are useful features."

Cons

"We face a few data extraction challenges when we use a huge data set with different formats."

What is our primary use case?

We use the solution mostly for supply chain management. We use it for invoice processing and bill of lading.

What is most valuable?

PDF classification and basic data extraction are useful features.

*Disclosure: I am a real user, and this review is based on my own experience and opinions.
Read full review (548 words)
PM
Business Head of Intelligent Automation at CRG Solutions
Verified user of IQ Bot
Jun 22, 2023
An easy-to-use and easy-to-deploy solution that is suitable for large organizations

Pros

"The product is easy to use and easy to deploy."

Cons

"The solution requires 32GB RAM."

What is our primary use case?

The primary use cases for the solution are vendor invoice processing and data extraction from SCM documents. It is also used for data extraction from health insurance documents, claims, and other general automation-related use cases.

What is most valuable?

I am satisfied with the product. The product has prebuilt models. If I upload a file, it automatically identifies the invoice number and other fields I require. I do not have to train the solution.

If a customer requires some fields that are not part of their model, I have to fetch them for the customer. If I use the product by uploading an invoice, the product gives me 18 out of the 20 fields the customer requires. It is the biggest benefit for me. 

The product is easy to use and easy to deploy. It is a low-code and no-code platform. Even non-technical persons can do the validations of the document.

*Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
Read full review (462 words)
PeerSpot user
Manager at a consultancy with 10,001+ employees
Verified user of IQ Bot
Jan 8, 2024
A stable solution that is easy to use and develop, but it is not good at extracting details from unstructured data

Pros

"IQ Bot is relatively easy to use and develop."

Cons

"It would be good if the solution could extract or capture details from unstructured data."

What is most valuable?

IQ Bot is relatively easy to use and develop. The solution's accuracy is similar to the standard, best products in the market.

What needs improvement?

It would be good if the solution could extract or capture details from unstructured data. It would also be good if the solution could incorporate AI capabilities to extract details from documents like annual reports or policy documents.

*Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
Read full review (431 words)
TR
Managing director at antarymain solutions
Verified user of IQ Bot
Oct 13, 2023
A simple and scalable solution that is cost-effective and helps users to extract data from digital documents

Pros

"The initial setup is easy."

Cons

"The success rate must be improved."

What is our primary use case?

It is primarily used for extracting digital documents. It scans documents and extracts data.

What is most valuable?

It is a simple tool. We can put it in the document framework and extract the data. The success rate is 60 to 70%. It is the market standard.

*Disclosure: I am a real user, and this review is based on my own experience and opinions.
Read full review (401 words)