ABBYY Vantage vs IQ Bot comparison

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4,661 views|2,557 comparisons
92% willing to recommend
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6,511 views|610 comparisons
89% willing to recommend
Comparison Buyer's Guide
Executive Summary

We performed a comparison between ABBYY Vantage and IQ Bot based on real PeerSpot user reviews.

Find out in this report how the two Intelligent Document Processing (IDP) solutions compare in terms of features, pricing, service and support, easy of deployment, and ROI.
To learn more, read our detailed ABBYY Vantage vs. IQ Bot Report (Updated: May 2024).
772,649 professionals have used our research since 2012.
Featured Review
Quotes From Members
We asked business professionals to review the solutions they use.
Here are some excerpts of what they said:
Pros
"The machine learning capability is pretty good.""Verification Station is valuable.""The solution's technical support is very supportive.""ABBYY Vantage has been designed as a user-friendly solution, making the setup process require only a couple of days.""Compared to other tools, ABBYY Vantage is better because it's very user-friendly.""The most valuable feature of ABBYY Vantage is flexibility. You are able to edit at a granular level providing good control over the process. Additionally, the brochures and guides were helpful in learning the solution.""Vantage is flexible and customizable. It's a low-code/no-code tool, so you don't need to get into detailed coding. You can also use AI to accomplish medium-complex tasks.""The solution has its own language that can be configured many ways and with higher accuracy than other products."

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"We have been using it only for two months, and so far, it is working fine. It is easy to use.""The most valuable feature of IQ Bot is the Discovery Bots. They can detect and analyze for improvements.""Our mainframe-based and web-based projects are working well, with no issues.""IQ Bot is easy to use compared to some of the other solutions out there.""The product is easy to use and easy to deploy.""IQ Bot has helped my organization transform digital documents and files into information to be processed.""The most valuable feature is the ease of use and the new feature that makes it possible to integrate the platform with Google.""The most valuable features are rapid development, stability, and ease of use."

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Cons
"The product must provide more supporting documentation on the API capabilities of Advanced Designer.""Customization in the solution needs to be modified. In the future, I would like to see the product have better customization functionality.""Quite complex, particularly for those who are not tech savvy.""The solution needs more web or cloud-based development.""It's important to incorporate image detection for signatures or other handwriting elements.""Even though the training works, it's not as good as it is made out to be.""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.""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."

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"The success rate must be improved.""I've used versions 11 and 2019 of this solution. The problem with version 11 is integration. When you are using a conventional bot and you try to use IQ Bot development, you don't have a specific feature for integrating these two pieces or components of Automation Anywhere. I was seeing some issues while trying to, for example, send some PDF to an IQ Bot processor and get a response for that process. So, there is a problem with integrating the conventional task automation and IQ Bot in version 11. In contrast, version 2019 already has the integration feature, and we can easily integrate two components. There are some features that must be there in version 11 but are currently missing. There is no total control over some features in IQ Bot. Some variables cannot be parametrized when using IQ Bot directly. The AI features that IQ Bot has must be more open to being parameterized by the user. It would be good if Automation Anywhere exposed some parameters so that I can adjust them as a customer. This is an improvement that Automation Anywhere can do. I would like to see some features related to deep learning in the next releases of IQ Bot. These will be some interesting features to see.""I think Automation Anywhere has a partnership with Google. I hope they integrate Google's OCR engine in some way with IQ Bot because the OCR engine that Google produces provides an in-built accuracy of close to 99%. That is the integration we are looking for, but we need to pay for IQ Bot. If they can integrate both and come up with better pricing, then it will be a huge boost because, in that case, the quality of an image or PDF quality is taken completely out of difficulty as Google tends to extract the data. That is something I am looking for if this happens.""Better customization in terms of mapping would be an improvement.""The quality of the service needs to be improved.""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.""It would be helpful if the solution was better at reading handwriting. It needs better handwriting recognition.""I know that Automation Anywhere just said that IQ Bot 11 and higher versions are ready to extract the documents with less than 300 DPI, however, this is not true. I never could work with documents with less than 300 DPI."

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Pricing and Cost Advice
  • "For us, the price is reasonable."
  • "We did not go with the licensed version of this solution."
  • "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."
  • More ABBYY Vantage Pricing and Cost Advice →

  • "Pricing is highly confidential because it is something that can be negotiated."
  • "The package that includes Automation Anywhere and IQ Bot starts at $10,000 USD."
  • "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."
  • More IQ Bot Pricing and Cost Advice →

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    Questions from the Community
    Top Answer:Vantage is flexible and customizable. It's a low-code/no-code tool, so you don't need to get into detailed coding. You can also use AI to accomplish medium-complex tasks.
    Top Answer:ABBYY's pricing could be improved. I feel like they are losing out on some business because of their pricing. They could expand their customer base by offering more flexible pricing options.
    Top Answer:ABBYY's support model could be improved because we get some complaints from customers regarding the amount of time it takes and the kind of responses we get. They also need to improve their… 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:IQ Bot is relatively easy to use and develop.
    Top Answer:IQ Bot is expensive compared to other solutions. On a scale from one to ten, where one is cheap and ten is expensive, I rate the solution's pricing a seven out of ten.
    Ranking
    Views
    4,661
    Comparisons
    2,557
    Reviews
    20
    Average Words per Review
    529
    Rating
    8.0
    Views
    6,511
    Comparisons
    610
    Reviews
    24
    Average Words per Review
    507
    Rating
    7.5
    Comparisons
    Also Known As
    ABBYY FlexiCapture
    Learn More
    Overview

    ABBYY Vantage is a next-gen Intelligent Document Processing platform (IDP) designed for digital workforces. ABBYY Vantage uses artificial-intelligence-based technologies to process structured, semi-structured, and unstructured documents. ABBYY's award-winning IDP platform (Vantage™) automatically captures, extracts, and classifies the information contained within business documents, turning it into actionable data to fuel other business systems and accelerate digital transformation.

    This intelligent content intelligence platform complements automation tools like robotic process automation (RPA) and business process automation (BPA) with machine learning and artificial intelligence capabilities to continuously enhance accuracy and improve the outcomes of automated processes.

    ABBYY Vantage provides a flexible layout and easy-to-use interface. The platform is an advanced AI-OCR (optical character recognition).

    ABBYY Vantage Features

    • AI Skills that process any document: The platform’s core set of AI Skills is a foundation for processing all types of documents - printed, PDFs, barcodes, signatures, and checkboxes - whether structured or unstructured.
    • You can design trained “Skills” or choose pre-trained ones from the ABBYY Marketplace. Choose Skills for invoices, purchase orders, W-2 forms, utility bills, and other documents to leverage automation and save time and costs.
    • No code is necessary when designing skills to process structured and unstructured documents.
    • Strong analytics skills. You can track, measure, and analyze the performance of deployed Skills. By doing this, you can improve document processing automation.
    • Seamless integration with other systems. ABBYY Vantage™ easily integrates with automation platforms such as Automation Anywhere, Blue Prism, UiPath, and other RPA and BPA solutions. It also integrates with chatbot and mobile app tools.
    • Machine learning for continuous improvement. The platform’s AI Skills continuously improve and become more accurate over time. The system will learn document variations and collect statistical data, improving the process on the go.

    How does ABBYY Intelligent Document Processing work?

    1. Start by picking a Skill from the ABBYY Marketplace or train a new Skill.
    2. Pick any document.
    3. The system will extract data within your document and delivers output to be ingested by any business system.

    ABBYY Vantage use cases

    The easy-to-use, no-code Vantage platform can be utilized to set up and train Document, Classification, and Process Skills for just about any document type and flow. Intelligent Document Processing made simple and accessible. Some examples of documents ABBYY can process include:

    • Utility bills: Extracts the supplier’s name, statement date, customer name, and address.
    • Personal earning statement: ABBYY Vantage can extract data from pay stubs and help you verify an individual’s earnings and employment status.
    • 1040: Captures the data from 1040 forms for tax processing purposes. Includes name, amounts, filing status, and other details.
    • Identity documents: Extracts information from 10,000 different identity documents from 248 different countries.
    • Remittance: It can capture headers, footers, and in-line details from payment documents.
    • Arrival notice: Captures data from shipping documents, including the consignee, shipper, parties, carriers, and other relevant details.

    You can use Vantage to digitize, automate, and process almost any type of document. It can be especially effective for a number of use cases, including:

    • Customer onboarding and due diligence, including Know Your Customer (KYC).
    • Shipping and logistics, such as shipping instructions, bills of lading, freight forwarding orders, and customs clearance documentation.
    • Insurance claim processing, reading through OCR documents, eliminating human error, and improving the process of insurance claims.
    • Banking and finance. For instance, processing the banking documents associated with loans.

    ABBYY Vantage Benefits

    • Automation: Ready-to-use AI skills designed to improve the immediate processing of documents.
    • Customization: Design your own AI Skill to process specific document types.
    • Built-in Skill automation, connectors, and intelligent process assets.

    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."

    Sample Customers
    Fujitsu, Plustek, Samsung, Panasonic, M-files
    Synergy
    Top Industries
    REVIEWERS
    Manufacturing Company25%
    Computer Software Company25%
    Financial Services Firm21%
    Recruiting/Hr Firm4%
    VISITORS READING REVIEWS
    Computer Software Company15%
    Financial Services Firm15%
    Manufacturing Company8%
    Comms Service Provider6%
    REVIEWERS
    Computer Software Company46%
    Manufacturing Company14%
    Performing Arts7%
    Outsourcing Company7%
    VISITORS READING REVIEWS
    Computer Software Company15%
    Manufacturing Company11%
    Financial Services Firm9%
    Comms Service Provider6%
    Company Size
    REVIEWERS
    Small Business26%
    Midsize Enterprise13%
    Large Enterprise62%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise13%
    Large Enterprise69%
    REVIEWERS
    Small Business26%
    Midsize Enterprise17%
    Large Enterprise57%
    VISITORS READING REVIEWS
    Small Business28%
    Midsize Enterprise16%
    Large Enterprise56%
    Buyer's Guide
    ABBYY Vantage vs. IQ Bot
    May 2024
    Find out what your peers are saying about ABBYY Vantage vs. IQ Bot and other solutions. Updated: May 2024.
    772,649 professionals have used our research since 2012.

    ABBYY Vantage is ranked 1st in Intelligent Document Processing (IDP) with 46 reviews while IQ Bot is ranked 2nd in Intelligent Document Processing (IDP) with 48 reviews. ABBYY Vantage is rated 8.0, while IQ Bot is rated 7.6. The top reviewer of ABBYY Vantage writes "Genius-level AI with very easy setup and implementation processes". On the other hand, the top reviewer of IQ Bot writes "User-friendly and code reusability feature for efficient utilization of existing code repositories". ABBYY Vantage is most compared with UiPath Document Understanding, UiPath, HyperScience, Microsoft Power Automate and IBM Datacap, whereas IQ Bot is most compared with UiPath Document Understanding. See our ABBYY Vantage vs. IQ Bot report.

    See our list of best Intelligent Document Processing (IDP) vendors and best Robotic Process Automation (RPA) 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.