1. A computer-implemented method for generating and managing test documentation for a software product that includes a plurality of functional areas, the computer-implemented method comprising the steps of: generating a test template; generating at least one test scenario for each of the plurality of functional areas, each of the at least one generated test scenarios being configured to test a business flow that mimics how an end user would use the software product; associating the generated at least one test scenario with the generated test template; generating at least one test case, the at least one generated test case including a plurality of test steps; associating the generated at least one test case with the generated test template; copying the test template to generate test results, the generated test results being independent of the generated test template, and carrying out a test cycle by executing the at least one test scenario and the at least one test case associated with the generated test results of the generated test template and storing the results of the executed at least one test scenario and the executed at least one test case in a database.