Can anyone tell me if there are good tools out there to help gather , document and manage requirements ? I am at a small company around 300+ and we have no tools to help manage things like versionsing,traceability,etc

We recently release a new $99 requirements management tool based on Microsoft Excel.

George Laszlo of "The Laszlo Letter" wrote this review:

Whether a new software application is intended for a validated or
non-validated environment, collecting, documenting, managing and using
requirements remains a necessary and often daunting task. With this in
mind, a small Pennsylvania-based firm called IM Visions has released a
straight-forward tool called SimpleReq to help tackle this chore.

Having come from the biopharmaceutical industry, the founders of IM
Visions are very much aware of the added rigors related to validation
in a regulated environment. They have designed SimpleReq to meet the
needs of the traditional Systems Development Life Cycle (SDLC) and of
21CFR11.

SimpleReq is available from the IM Visions web site at an annual
subscription price of $99.95. This is for a single instance of MS
Office running on a single PC. You can select either the MS Office
2003 or MS Office 2007 version.

Read the entire Review at:
http://laszloletter.typepad.com/the_laszlo_letter/2008/01/requirements-ma.html

A demo and free trial of Simple-Req are available at:
www.imvisions.com

One of the most commonly used tools in our office is Borland’s Caliber RM.  It seems to work well, but it does some things better than others.  Before investing in an expensive tool, I would recommend investing some time in understanding your business/companies needs for a tool.  If you would like more information about Seilevel’s experience with the Caliber tool, there are some really great conversations about Caliber on the Seilevel Discussion board.  http://requirements.seilevel.com/messageboard/forumdisplay.php?f=11

There are also some open source requirements tools.  I have not used any of these personally.

·         Open Source Requirements Management Tool 1.5
http://sourceforge.net/projects/osrmt

·         Tigris
http://requirements.tigris.org/

·         JFeature
http://www.technobuff.net/webapp/pro...?name=jfeature

·         Useme
https://useme.dev.java.net/index.html

I would suggest that your first step is to evaluate what you need the tool to do.  For example, do you just want to do tractability?  If so some tools may fall off your list of possibilities since they do not handle that task very well.  If you are looking for versioning alone, then there are many tools that are not requirement specific, but handle document version changes. 

As with any tool, its best to understand your needs (requirements) before ascribing a solution.  I wish you the best of luck with your search.