IQ Bot vs UiPath Document Understanding comparison

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Automation Anywhere Logo
6,700 views|633 comparisons
89% willing to recommend
UiPath Logo
1,612 views|738 comparisons
92% willing to recommend
Comparison Buyer's Guide
Executive Summary

We performed a comparison between IQ Bot and UiPath Document Understanding 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 IQ Bot vs. UiPath Document Understanding Report (Updated: March 2024).
768,857 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
"IQ Bot is relatively easy to use and develop.""The most valuable feature is the ease of use and the new feature that makes it possible to integrate the platform with Google.""The initial setup was satisfactory.""IQ Bot's most valuable feature is data migration, including Word format and legacy document templates.""The most valuable feature is the cognitive ability, as it will learn an interface that it is not familiar with and perform in the way that a human does.""The initial setup is easy.""I would say that the best feature is that it has native automation for the US.""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."

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"The prebuilt algorithm for extracting foreign invoices is the most valuable feature because it eliminates the need for us to build anything from scratch.""The quality of the input documents is crucial because sometimes healthcare providers prefer automated processing rather than human review.""I like UiPath's machine-learning capabilities. My first impressions were good, but we only use it in a few processes. We intend to expand our use of these features in other situations, but we're still learning how to use the AI functions. We use the OCR much more.""I like the clear and organized way in which UiPath has structured the labeling process, as well as the user-friendly development environment.""UiPath provides a useful feature that allows us to classify documents as invoices or not.""The solution is quite stable, and I am happy with its performance in my programs and processes.""UiPath Document Understanding is user-friendly, with an easy-to-use self-trained model, and the OCR it provides does a good job even with scanned PDFs.""The scalability it offers is truly exceptional, making it arguably the best in the market."

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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.""The log scripts can only be written in Python, there is no compatible language.""I would like love to see pre-trained models based on industries.""If even a small change is made to a PDF format, IQ Bot may fail to read it and require me to go back and create a new learning instance.""The user should be able to update the data libraries.""Lacks sufficient flexibility in identifying a wider variety of documents.""It was challenging to have to do the pre-processing and tax inputting on our own.""There's still room for improvement in IQ Bot because sometimes, my team has certain types of PDFs that need to be grouped, for example, five types of videos need to be sorted to get data, but it was impossible to do in the solution. There's even an instance when I'm extracting data, for example, the invoice numbers, and I trained IQ Bot to do the extraction just for the invoice numbers, but it failed to do it. There could be some exceptions that the product developer is working on, but it could take time because sometimes IQ Bot works, and sometimes it doesn't, so the error isn't because of the developer. The error lies with the system. Another area for improvement in the solution is that during installation, it makes your machine drastically slow. It requires you to have RAM of 16 GB and a 500 GB hard disk, but that's still not enough. Slow downloading is also an area for improvement in IQ Bot because whenever you try to execute bots around 20MB to 100MB, for example, that will be downloaded from the cloud to local machines, and this process could take between seven to eight minutes, and this could be frustrating especially when you're trying to showcase it to a customer. Bot downloading into a local machine shouldn't be taking more than five minutes because it's embarrassing in front of clients. It's good that Automation Anywhere provides a cloud version for IQ Bot, but if you're unable to execute it fast, then that's not very good. I was working for one client in Brazil and there was a time I was showing the bot to them and it was taking around seven minutes to get downloaded on the local machine, and I even tried to connect with the support team, but that still didn't get me anywhere. If you're working on some code and you're executing a bot, you need to change one line and the bot will download completely, so it should be pipeline or SVN or Git. If you've downloaded a 50MB bot, you just change one variable name, but then you have to download the 50MB code again, and it makes you wonder why you need to download the complete code. You have to double-check if you already have the code in your folder, and why would you need to download it again. Only one line should be changed for the download time to decrease drastically, but right now, you need to be downloading the code completely, so if you're executing a 100MB bot fifty times, then that means it will be downloaded fifty times as well. IQ Bot is not a straightforward solution, so my team is struggling with it. Currently, my company has been doing some R&D about the solution, and it has several main problems that need to be addressed. What I'd like to see in the next version of the solution is support for unstructured PDFs because currently, it's a very good solution for structured PDFs."

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"There is room for improvement in UiPath Document Understanding's pricing. It is expensive for small clients. Currently, there is a big gap between the basic package and the 200,000 packages. There is no package in the middle for small agencies.""Making the design of Forms AI more flexible and accommodating to companies' branding preferences would be beneficial.""The documentation should be more clear, or better training should be provided.""UiPath Document Understanding has difficulty identifying handwritten documents, and there is room for improvement.""There are also problems with handwritten documents. The results from those are not 90 percent accurate. With scanned and native PDFs, it is 90 to 99 percent accurate, but the accuracy of handwritten documents is somewhat less. If they could improve on that, it would also be helpful.""There is room for improvement in handwriting processes.""UiPath Document Understanding requires more database connectors.""Sometimes we have challenges when we need to read something like a barcode, so we must use the Cisco algorithm to solve the issue, or I have to ask developers for help specifically to capture this kind of information. There are other processes, such as refunds, that we still must do manually because there is no way to use automation to solve this issue."

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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 →

  • "Document Understanding's price is quite high."
  • "For the licensing part, in our company, we initially started off with a monthly plan, but yearly plans are also there. Cost-wise, UiPath Document Understanding is good since it provides flexibility in its pricing."
  • "On a scale of one to ten, where one is cheap, and ten is expensive, I rate the solution a nine."
  • "The pricing is reasonable."
  • "It's expensive, but you can reduce the price per license by getting more licenses. Overall, the pricing is okay."
  • "We received a 60-day free trial before having to purchase a license to continue using UiPath Document Understanding."
  • "On a scale of one to ten with ten being the most expensive, I rate UiPath Document Understanding an eight on cost."
  • "Our clients are concerned about the volume-based pricing model, as UiPath charges more than other vendors in the market."
  • More UiPath Document Understanding Pricing and Cost Advice →

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    Questions from the Community
    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.
    Top Answer:Invoice processing is the most valuable feature. Most of my customers use Document Understanding for invoice processing. That's one of the most common use cases. Typically, each customer starts their… more »
    Top Answer:Document Understanding's pricing is reasonable for developed markets because manual entry will be unable to match the cost of automatically processing one page. However, you can get labor for much… more »
    Top Answer:Document Understanding's handwriting comprehension is improving, but it's still not as good as printed documents. Machine learning models, in general, are becoming mature, but it's still not to a… more »
    Ranking
    Views
    6,700
    Comparisons
    633
    Reviews
    24
    Average Words per Review
    507
    Rating
    7.5
    Views
    1,612
    Comparisons
    738
    Reviews
    38
    Average Words per Review
    917
    Rating
    8.1
    Comparisons
    Learn More
    Overview

    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."

    Wouldn’t it be great if software robots could understand documents? To extract, interpret, and process data for you, even from PDFs, images, handwriting, and scans? UiPath Document Understanding helps your robots do just that. Delegate more of your digital paperwork with a boost from AI.

    Sample Customers
    Synergy
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    Top Industries
    REVIEWERS
    Computer Software Company46%
    Manufacturing Company14%
    Performing Arts7%
    Outsourcing Company7%
    VISITORS READING REVIEWS
    Computer Software Company15%
    Manufacturing Company11%
    Financial Services Firm9%
    Comms Service Provider7%
    REVIEWERS
    Computer Software Company39%
    Manufacturing Company17%
    Comms Service Provider9%
    Outsourcing Company4%
    VISITORS READING REVIEWS
    Financial Services Firm17%
    Computer Software Company15%
    Manufacturing Company7%
    Healthcare Company7%
    Company Size
    REVIEWERS
    Small Business26%
    Midsize Enterprise17%
    Large Enterprise57%
    VISITORS READING REVIEWS
    Small Business28%
    Midsize Enterprise16%
    Large Enterprise56%
    REVIEWERS
    Small Business41%
    Midsize Enterprise16%
    Large Enterprise43%
    VISITORS READING REVIEWS
    Small Business18%
    Midsize Enterprise12%
    Large Enterprise70%
    Buyer's Guide
    IQ Bot vs. UiPath Document Understanding
    March 2024
    Find out what your peers are saying about IQ Bot vs. UiPath Document Understanding and other solutions. Updated: March 2024.
    768,857 professionals have used our research since 2012.

    IQ Bot is ranked 2nd in Intelligent Document Processing (IDP) with 48 reviews while UiPath Document Understanding is ranked 3rd in Intelligent Document Processing (IDP) with 45 reviews. IQ Bot is rated 7.6, while UiPath Document Understanding is rated 8.2. The top reviewer of IQ Bot writes "User-friendly and code reusability feature for efficient utilization of existing code repositories". On the other hand, the top reviewer of UiPath Document Understanding writes "Is easy to configure, user-friendly, and produces accurate results". IQ Bot is most compared with ABBYY Vantage and IBM Datacap, whereas UiPath Document Understanding is most compared with ABBYY Vantage, Instabase, Tungsten TotalAgility, Nanonets and HyperScience. See our IQ Bot vs. UiPath Document Understanding 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.