Lease abstraction is a critical process in the real estate and property management industries that involves extracting key information from complex lease documents. It has become increasingly important as organizations seek to streamline lease management, ensure compliance with accounting standards, and make data-driven decisions about their property portfolios. Lease abstracts provide a concise summary of essential terms and conditions, allowing stakeholders to quickly access important information without having to go through entire lease documents. The process is crucial for various industries, from retail companies managing multiple locations to real estate investment trusts evaluating potential acquisitions. AI-based Intelligent Document Processing (IDP) systems are the most advanced and efficient solution for lease abstraction, offering benefits such as format-agnostic processing, data validation and approval features, custom data actions, and automated import and export options.