IQ Bot Reviews

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

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.

The success rate must be improved. It is mostly used for printed documents. It would be helpful if it could also convert handwritten documents. The product must also provide AI features.

I have been using the solution for a couple of years. I am using the latest version of the solution.

The stability of the product depends on the success rate. If it is a fairly good document with a good resolution, it gives good results. If the resolution is low, the results will be impacted. I rate the product’s stability a four to five out of ten.

The solution’s scalability is good. I rate the scalability an eight out of ten. Around ten people use the solution in our organization. The number of users depends on our use cases and the number of documents that need to be processed. If a client demands it, we will definitely increase the usage of the product.

The initial setup is easy. It is cloud-based. It takes very little time to set it up. We just have to subscribe to the solution, install it on the system, and start using it. We used the community version first. Later, we bought the license. The community version is also very easy to set up. I deployed the solution myself. I just had to build the framework and input the documents. Once the results are out, we process them with the target applications.

The solution is cost-effective compared to other market tools. We pay a monthly licensing fee for it.

I would recommend the solution to others. It is a good product. Overall, I rate the tool an eight out of ten.

We use IQ Bot to extract and consolidate the information. 

Extracting information from 500,000 invoices manually is difficult. IQ Bot automates the task and helps us summarize the data and provide it to the auditors. 

IQ Bot is very easy to use. 

The product is expensive. 

I have been using the tool for a month. 

I rate the tool's stability an eight out of ten. 

I rate the solution's scalability an eight out of ten. 

We are yet to use technical support. 

We have a team to install the tool. 

We have seen ROI with the tool's use. 

I rate the solution a nine out of ten. 

IQ Bot has the ability to easily capture objects. The latest version is far ahead of the competition. Most of the features are excellent, valuable, and easy to handle.

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. 

IQ Bot is a component of the newer version of Automation 360. We started using it about a year and a half ago. It was introduced in 2020, and we started using it in September 2020.

If you need an application to do some repetitive task, then you are going to create the bot. And as for the requirement, you are creating some IQ Bots and master bot and you're handling errors altogether, so obviously it will be stable up to 98%.

IQ Bot has to be scalable because it contains a lot of data and multiple features. You need to provide some services as well, so scalability is a part of it. 

If a client has a massive amount of data that needs to be processed, it's more likely that there will be errors in the data if it's processed manually. Automating the process gives you greater accuracy. 

I rate IQ Bot support nine out of 10. You might have technical difficulties requiring some tweaking or minor issues that can be resolved in a single call.  Those are easy to handle. For example, maybe some tabs are missing, so support will go inside and check the code to find out what happened.

You are provided support for one month after deploying then there are levels of support: levels one, two, and three. You raise a ticket for a specific issue, problem, or application. Maybe it's a data issue or an application-related problem. For example, perhaps some content is missing. You send a screenshot and some information to the technician. They solve minor problems in an hour or two, but something significant might take one or two days. 

Positive

The ROI varies among clients, but a customer will only implement automation if they expect a return. There are two or three points to consider when providing a solution to the client. You need to look at how much you can reduce two categories: full-time equivalent and AST.  

You should think about the headcount that can be reduced. Let's say there are three people working for 24 hours, and one bot can complete those tasks in less time. Suppose a ticket that takes two hours to resolve manually can be handled in five minutes by bot. That ROI structure is provided to the client. The price structure and an analysis of workload management must be included. You will need to create some remote machines and divide the task into different levels among various machines. 

I rate IQ Bote nine out of 10. If a process is divided into use cases, it should be at least 95 percent accurate. My advice to prospective users depends on the requirement. You have to consider the complexity. If it's a simple task, you can do everything by hand, but if it takes 10 team members to do the task, you might consider automation.

I suggest automation for a complex use case involving complicated processes, multiple applications, and lots of data. If the client is working with semi-structured data, we can offer automation. We only recommend this if we can automate 55 percent of the processes or more. 

This solution is primarily used for financial use cases like invoice processing and inventory reconciliation processes. Those are the classic use cases when we talk about IQ Bot. It deals with multiple types of invoices that have different structures, different data, and sometimes different images. This product has already been templatized and fits directly into any type of invoice coming in. If you have a new type of invoice then you have to train the tool to identify those new objects. We are partners with IQ Bot and also consultants. We assist our customers with implementing this tool. I'm an RPA director. 

What I've seen with our clients in the last couple of years, especially with the STP, is that the solution is quite good when you train really well. It identifies the printed version, but nowadays it also identifies handwritten documents to some extent. The STP ranges between 50% to 60% success, especially on handwritten invoices, but we have also seen an increase in accuracy - somewhere between 60% to 80% - for printed invoices. Improved accuracy has been a benefit for us. 

I think the product identifies really well and training is quite simple. Because of the templatization it directly slots in the company name, and other basics that are all pre-defined. Training time is minimal as a result. 

I think improvement could be made where handwritten documents are concerned. If you have a printed invoice, it's easily identifiable, but if someone is writing the same thing in their own handwriting, then identifying it is much more difficult and less accurate. I'd also like to see more support available for our customers. 

I've been using this solution for two years. 

It's stable but does require know-how. When you want to deploy these bots into production, the control room admin has to know what he or she is doing. The integration between IQ Bot and RPA is quite easy. This is where there can be a few challenges. If the person is not well trained, especially in the control room side, they might have some issues. But if they are well trained, it's stable. 

Scalability is quite good. I've never had an issue, it basically runs through how many bots you process so it keeps running one by one, because it has to read one at a time and it keeps running. If there's a memory issue or if the bots have not been written well, then probably the bots could fail. If you follow the Automation Anywhere best practices for development, then I don't think there are any issues. It requires a coding checklist from Automation Anywhere to make sure that it follows the standards.

Because we are a partner we don't normally get into technical support. We receive help from Automation Anywhere directly. 

The initial setup is quite easy. Most of the time, we do a small POC then pick up one or two small devices, showcase them for those training in it and then create a bot using RPA. IQ Bot is only for intelligent document processing. It's only for the extraction, but the next step is to process that information which has been extracted by this IQ Bot. We use RPA to create the bots, extract the data and run through invoice processing, opening any SAP or Oracle application. It extracts the data from invoices, puts it into a CSE, Excel file, reads through the Excel file, then opens an application, and runs it through.

If you're buying this IDP tool, then you need to make sure you're going to get a substantial ROI. More importantly, the organization needs to have a vision as well as the ability to identify the right use cases for using IQ Bot. I've seen a few cases where organizations did not understand how this tool can be used and therefore did not achieve an ROI. 

From what I have seen in the industry, most organizations need intelligent document processing, because if you are using RPA, you have a financial department where you're doing invoicing or procurement, you're running purchase orders, or you have inventory, which requires inventory reconciliation. Every organization deals with documents, and the digitization of documents will increase the scale and scope of your process automation somewhere between 20% to 40%. You can also easily increase your ROI. This is the main task which requires a large manual effort with a lot of human error. You can reduce all those errors and your expenses. This tool automates it all and things are processed more accurately and quickly. On top of that, it works 24/7. 

You do have to know how to use this tool, how to train the templates, to create that efficiency. It's part of the challenge. The main point is when you do a POC, you need to measure the cost of the software licenses, implementation, training, deployment versus your ROI. You have to make sure that if you're buying this IDP tool, then you are trying to get at least a substantial ROI. More importantly, the organization needs to have a vision as well as identifying the right use cases for IQ Bot. I have seen a few cases where organizations did not understand how this tool can be used and they didn't achieve the ROI.

I would rate this solution an eight out of 10. 

We have automated several processes for several customers. We have used this tool to automate processes for a bank. We have also set it up for another customer to download purchase orders and put information in a database to consolidate the information they have in the SAP system.

After automating a process, we prepare a report that shows how much money automation has saved. IQ Bot has reduced costs, and there are fewer mistakes because humans make mistakes. 

These bots also work 24/7, which is also a big benefit. Earlier, if a task took a week, with IQ Bot, we can do the same task in 30 minutes or so depending on the amount of information.

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.

It should have more artificial intelligence to capture information from a document. Currently, our clients are preparing invoices manually. They are not digital, so we need to scan all the documents, but we are facing issues in capturing all the information through IQ Bot. Therefore, we have to use other tools to capture the information, and then we use IQ Bot to process all the information. They need to improve the artificial intelligence for document scanning.

I have been using this solution for around one year.

It is stable. We had no issues with its stability.

It is scalable. We have implemented it in a medium company as well as in a large company without any problem. It only depends on the server on which you run the bot.

Their technical support is fine. We don't have any problem with the support of Automation Anywhere.

Its initial setup is easy. It takes one week to create the processes and then develop, test, and put them in production.

We have a team of four people for supporting a big customer with this solution. They monitor the processes and check if there is any problem. We support all the bots that we develop.

Our customers evaluate UiPath and Power Automate.

I would recommend this solution because it is very easy to implement, and there are no problems. Automation Anywhere's support is also available at any moment.

I would rate IQ Bot a seven out of ten.

We go into companies and help them automate their processes — that's really what we do. If somebody wants to automate their processes, we have a couple of partnerships.

Usually what happens is, when our clients are scraping off the web, one client takes a report off the web, and then they publish it to their people. In the past, somebody would sit in front of the screen and they would type it in manually. Now, instead of doing that, a bot goes up, scrapes it up, and puts it into a file which they can then distribute.

We'll take that stuff and then generate a file — that's what we do. There's the data that has to be brought in from two files, or is brought in from the web. They would combine that data to create the file.

Our clients have more free time to work on other things thanks to this solution. Instead of having to copy everything from a web screen into a file, now it's done for you. You are free to work on something else.

Try to get every person working with a bot. That way, as soon as they get some manual work, they can cut over and give it to the bot to do. When the bot is done, it comes back to the person — that's the ideal state.

IQ Bot is easy to use compared to some of the other solutions out there.

They're always trying to make it easier. The whole automation industry is moving into what they call "intelligent automation", where they have started to bring AI into it also. That way, based on decisions, automation will happen.

I have been using IQ Bot for two years.

What we're seeing is that our clients had some problems initially, but now things are becoming much more stable. The competition has become much more fierce, and the industry is starting to mature a little also, so we're starting to see some improvements.

At first, our clients used to be really worried about scalability, but now they're able to scale quite nicely. If you really want to scale, then you want it to look at the cloud. With the cloud, there are unlimited resources.

The company has good support. When they're called on, they definitely help. 

It's pretty straightforward. I think the problem is usually tuning it up, and trying to get the best performance — that takes some time.

Deployment and making the best use of the software. Some companies don't properly train their staff so they take the wrong approach.

We usually try to get the company to build what we call a COE (center of excellence), where they have a group of people that have done these projects before, and they can help each of the groups in the company do it. As a result, they start to put standards in place on what the best practices are.

Then they pass it down to the rest of the people in the company. That's the way we try to get the company to move forward.

If you just try to wing it, you'll become sprawled; everybody's trying to do their own thing, without any standards. Then, when you want to upgrade or you want to make a change, issues will arise.

With the Cloud, the price goes up and down. You only pay for what you use. If it goes up, you pay for it, and then if it goes down, you don't pay for it. It really depends on what you use.

The cost can be a problem. You have to have a good strategy, and you also have to monitor what you use. If you're not planning properly and you're not taking advantage of the bots and the resources you need, there might be some issues.

My advice is to start with a good partner that can help build your expertise. Either bring in some people or collaborate with a partner.

Overall, on a scale from one to ten, I would give this solution a rating of eight. There's always room for improvement, and this industry is growing and changing. Still, IQ Bot is a leader.

We mainly use it for invoicing and other similar things. We use it to extract the data in different kinds of forms. 

The flexibility to deploy based on the different types is the most valuable. We can deploy pieces of the program directly over the fields. We can also directly connect with databases. We can modify it and make different connections with the database.

We are also able to programmably modify the fields and change the presentation and values or evaluate a list of values. We can change the values on the fly.

It is very flexible and very easy to use and learn. It is also very simple.

The way this solution creates invoices can be improved. It is slow. Sometimes, it is also very complicated because you need to apply some kind of filters and effects over the images, which makes it a little bit complicated. They can reduce the complexity to manage the fields or incorporate other features. They can provide an easy way for developers to customize and program fields.

The accuracy of the OCR engine can be improved. It would be great if they can also provide an ICR engine and an option to choose between OCR or ICR.

I have been using IQ Bot for a couple of years. 

It has good stability. 

It is very scalable. In terms of scalability, it is very competitive against Datacap, and it is very close to Datacap. These are the leaders in this field.

I didn't get a chance to interact directly with their technical support. I use our internal support. I need to go through our technical team, and they provide level-one support. If they can't resolve our questions, they directly interact with their technical support.

The initial setup is very simple and straightforward. Deployment of 25 types of forms with an average of two or three variations probably takes around three weeks.

It has an average cost.

I would recommend this solution. It has been very flexible for us, and it is helping us to reach our goals at the moment. 

I would rate IQ Bot a seven out of ten.

The Optical Character Recognition (OCR) capability is one feature I would like to highlight. Whenever we want to create something from the previous documents or images, the OCR feature enables us to do that job easily.

Migrating from the previous version to the current version is a little tricky. We could not find proper documentation or guidelines to help us migrate the bots from the previous version, version 11.3, to the newer version A2019. 

As this kind of documentation is lacking, whoever wants to migrate from the previous version to the newer version will face some difficulties. That's one thing they can improve on as it'll be helpful for the users.

I have been using IQ Bot for almost one year.

IQ Bot is a stable solution. We didn't face any difficulty in terms of implementation or in terms of running the bot. 

IQ Bot is scalable. As we're running it on a cloud, we can achieve whatever volume we want in a matter of minutes.

IQ Bot was quite easy to set up because we had some knowledge using the previous version. The maximum time it'll take for the initial setup is about four hours.

We are the preferred implementation partner for Automation Anywhere. We have a good dedicated account manager. Whenever there are problems, it's solved within one to three days.

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. That is an area they can rethink and reduce the licensing cost to help most users.

If there were a couple more free features on the platform, it would help users understand it by implementing them before paying for a commercial one.

Because of the higher licensing cost and lack of proper documentation, I would give IQ Bot a seven on a scale from one to ten.