An frd or functional requirements document serves as a contract for formal statement, between the business stakeholders and the technology team, on an application’s functional requirements. The overall obs covers a wide range of features, which are. This document is a functional requirements document (frd) template that outlines the sections and content needed for documenting software requirements. They communicate what problem needs. Business requirements documents (brds) center on strategic objectives, business processes and user needs at a high level.