A system and method for managing software services is provided. The method includes receiving a query from a client device, by a processing unit, for accessing software package corresponding to at least one building block stored in a repository, wherein the building block is a software component associated with a software service, configured for reuse in a plurality of engineering applications. The method further includes identifying the software package corresponding to the building block from the repository based on the query. The method further includes providing access to the software package corresponding to the building block, on the client device, through an integrated development environment.