1. A computer implemented method for monitoring and controlling a plurality of application specific networking components in a plurality of datacenters, said computer implemented method comprising: receiving, at a monitoring module, executed by a processor, a performance data from each of said plurality of application specific networking components in said plurality of datacenters; storing, at a database, said performance data received from each of said plurality of application specific networking components in said plurality of datacenters, wherein said plurality of datacenters comprises a first datacenter and a second datacenter; receiving a first input comprising a selection of at least one of said plurality of application specific networking components; generating, at a report generation module, executed by said processor, a graphical representation for said at least one of said plurality of application specific networking components that are selected based on said first input, wherein said graphical representation comprises a graph that shows said performance data of said at least one of said plurality of application specific networking components of said plurality of datacenters of a centralized application management system over a period of time, wherein said graphical representation is generated based on said performance data of each of said plurality of application specific networking components obtained from said monitoring module; displaying, using a dashboard module, executed by said processor, a dashboard that comprises at least one of (a) said graphical representation for said at least one of said plurality of application specific networking components, and (b) at least one of (i) a first traffic level managed by said first datacenter, and (ii) a second traffic level managed by said second datacenter; providing, at said dashboard, a plurality of sliders related to a plurality of properties of at least one of (a) said first datacenter, and (b) said second datacenter; modifying, at said dashboard, said plurality of properties of said plurality of application specific networking components of (a) said first datacenter, and (b) said second datacenter based on an input obtained from said plurality of sliders, wherein said plurality of properties comprises a license manager, a web server, and a search engine; providing, at a widget configuration module, executed by said processor, a traffic grid widget area to (i) check a status of said plurality of application specific networking components, (ii) view a traffic percentage of said plurality of application specific networking components, and (iii) view statistics specific to said plurality of application specific networking components, wherein said widget configuration module configures a first widget for each of said plurality of application specific networking components, wherein said first widget defines (i) a malfunction information for (a) each of said plurality of application specific networking components and (b) a plurality of rules, (ii) a first rule for generating an alert when said malfunction information is detected in said performance data received from each of said plurality of application specific networking components, and (iii) a second rule for generating said graphical representation for said at least one of said plurality of application specific networking components that are selected based on said first input, wherein said first rule comprises an instruction to enable or disable each of said plurality of application specific networking components when said malfunction information is detected in said performance data received from each of said plurality of application specific networking components; receiving a second input comprising a modification of at least one of (a) said first traffic level, and (b) said second traffic level that are displayed in said dashboard; configuring, at a traffic management module, executed by said processor, said plurality of application specific networking components in at least one of (a) a first datacenter, and (b) a second datacenter of said plurality of datacenters based on said second input; and managing, at a license manager module, executed by said processor, a plurality of IP servers in said plurality of datacenters that host said centralized application management system, wherein said license manager module upgrades an existing license of said plurality of IP servers.