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A System Requirements Specification is a detailed document that mentions how software should function and what should be its behavior upon specific actions. This document becomes handy during the project development cycle. It allows the software development company to manage the scope of work within time and available resources. It is a set of functional, non-functional, and user requirements descriptions that helps teams in defining the project milestones. An SRS document is equivalent to a contract or evidence that both parties have come upon an agreement to the project specification.