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Manage your code with state of the art version control.
It supports teams of all sizes doing parallel development and includes many powerful features like atomic check-ins, branching and merging, shelving, labeling, concurrent check-outs, check-in policies, and the association of check-ins with work items. Differencing tools reduce the complexity in branching and merging and helps you understand the scope, organization, and maintenance of your source code and easily identify, track, and manage changes across branches.

Connect change to meaning with integrated work item tracking.
Work items can consist of requirements, tasks, bugs, issues, and test cases. The work item tracking system is extensible and you can define and control fields that are presented to the user, fields that are rolled up into reports, states that the work item can be in, how state transitions should occur, and receive alerts on state changes.

Increase visibility of your project with Team Web Access.
Team Web Access provides much of the functionality that is available through Team Explorer, and some additional tools for project management. Team Web Access also enables members of the organization who are not licensed to access TFS to access the Work Item Only View (WIOV) for managing the work items they created, such as reporting code defects and suggesting product features.

Centralize all roles in a single repository
Extend your development process to customers, business analysts, testers, and operations, with the tools they are familiar with, centralizing the information and improving team collaboration and traceability.

Collaborate in context to increase visibility and reduce hand-off waste
Team Foundation Server and its data warehousing capabilities provide a unified and integrated view across the team and can be adapted to your project needs. End-to-end information is provided in the context of the current task, dramatically improving the efficiency of the teams communications.

Consolidate your ALM across teams and technologies
Centralize application lifecycle management across different teams in the organization, starting with first-class ALM support for SharePoint and C++. Extend even further with Team Explorer Everywhere (now included with Team Foundation Server) connecting developers using Eclipse-based Java tools and Linux and Mac operating systems for better coordination and visibility than ever before.

Adopt agile techniques to become more effective
Flexible agile planning tools (like capacity planning, taskboards, and backlog management) allow teams to adopt incremental development techniques and agile methodologies, like Scrum, at your own pace. Use the same tools to enhance your current methodology more gradually.

Reconcile the agile team with your companys project management
Integration with Microsoft Project and Microsoft Project Server reconciles the software development team with the companys project management process, making sure agile and traditional project planning are integrated.

Continuously monitor the progress of the project
Monitor the health of the project using the data and reports that are automatically collected and generated in Team Foundation Server.

Follow your requirements through their complete lifecycle
Full traceability and visibility into the progress and quality of each requirement, every step of the way, means you can always tie the teams work items and test cases to business goals.

Seamlessly integrate test solutions
Embrace an integrated test approach and engage the entire team by connecting Test Manager with Team Foundation Server. Manage test requirements, automate the testing process, perform Manual and Exploratory testing, and provide all the information that developers need to reproduce and solve errors.

Implement continuous integration to reduce risks in your project
Continuous integration capabilities in Visual Studio 2012 facilitate the incremental development process, ensure integration from the start of a project, and discover bugs earlier in the process. Implement review processes to ensure quality. Enhanced code review workflows facilitate the collaboration among developers, providing a rich environment to review the code and propose changes.