IQ Bot Review

Feature rich, easy invoice extraction, and good support, but it is lacking in pre-processing capabilities


What is our primary use case?

We are currently using this solution, and are interested in providing services to our clients in the future.

We are using IQ Bot for the internal finance department. We are dealing with invoices from many different vendors.

What is most valuable?

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.

Feature-wise it's good.

What needs improvement?

We are working with IQ Bot, but we are not impressed with it. It works well with static documents but not otherwise.

It was challenging to have to do the pre-processing and tax inputting on our own. They didn't have a feature through IQ Bot.

The way you implement the pre-processing needs improvement. In many cases, the invoices that are received have the fax cover page, and with terms and conditions page. We have to input all of the pre-processing. It would be better to have it as a part of this solution, otherwise, every single invoice would be treated as a new document, even if it comes with terms and conditions and a cover page.

They still have a long way to go when dealing with a structured and unstructured environment.

Features are good, but when dealing with pre-existing models such as purchase orders, and invoice,s for example, the capabilities of the solution need improvement. 

For how long have I used the solution?

I have been working with IQ Bot for approximately one year.

What do I think about the stability of the solution?

We have not had any issues with stability.

What do I think about the scalability of the solution?

It's a scalable solution. The biggest challenge that we faced was with the configuration.

It's for an internal finance team and we don't have more than five users at this time. 

How are customer service and technical support?

We have contacted technical support many times. They are very helpful and very responsive in resolving any issues.

How was the initial setup?

The initial setup was straightforward.

What about the implementation team?

We had help from Automation Anywhere which made the implementation easy.

What's my experience with pricing, setup cost, and licensing?

There are cheaper solutions on the market, but it involves more negotiating. 

Typically, everyone starts at a higher price and negotiate to a lower price to compare with other vendors.

The pricing is complicated but I wouldn't say that they are expensive.

What other advice do I have?

If it has to do with a straightforward structured form, this solution works very well. If you are looking at an unstructured environment with a lot of variety there is some instability in terms of ease of use. It may be better with the 2019 version, but it is something that should be considered before they decide to implement this product.

I would rate IQ Bot a seven out of ten.

Which deployment model are you using for this solution?

On-premises
**Disclosure: My company has a business relationship with this vendor other than being a customer: Partner
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