As the telecom market becomes more consolidated the industrial key players are forced to release product versions to the market at a growing pace in order to comply with customer requirements and market trends. The time between the initial feedback or requirement originating in the field until the product release and the application satisfying the demand is becoming more critical. Product management?s ability to identify the requirements and match them with the company's core SW resources and technological assets is becoming a core competence. NICE Systems is a worldwide leader of multimedia digital recording solutions. NICE products are used by 65% of Fortune 100 companies in 30,000 sites including contact centers, financial institutions, public safety sites, ATC (air traffic control) sites, CCTV (closed circuit television) security installations and government markets. In this article, we will discuss the implementation of an effective way of managing requirements and how it improved the daily work of product managers as well as their counter-parts in the rest of the company.