This paper discusses about the significance of selecting right requirements management tools. It’s no secret that poorly understood user requirements and uncontrolled scope creep to many software project failures. Many of the application development professionals buy wrong tools for the wrong reasons. To avoid purchasing the more complex and expensive tool, the organization needs to be realistic about the particular problem for which they opt. Software development organizations are improving the methods, they use to gather, analyze, trace, document, prioritize and manage their requirements. This paper considers four leading Requirements Management tools; Analyst Pro, CORE, Cradle and Caliber RM, the focus is to select the appropriate tool according to their capabilities and customers need.