Network management systems (NMS) monitor, configure and maintain computer networks. Network operators providing networking services are responding to the evolving bandwidth, availability, and latency requirements by upgrading from legacy management systems to alternatives utilizing modern technologies. This paper addresses the trends and challenges of transitioning from legacy NMS to modern management systems. The academic research on network management systems is limited, and we aim to provide a knowledge base on the subject matter by conducting a literature review. The literature review consisted of 43 primary studies from which eight themes were identified by conducting thematic analysis. An NMS’s typical upgrade and selection process is largely unsystematic and based on anecdotal requirements. We utilize the discovered trends and challenges as the basis for the network management system selection process. The selection process was developed via the design science research methodology. The proposed selection process combines the business problems perceived by network service providers with state-of-the-art network research. The results of the review and the process development outline practical implications in the subject area of NMS and introduce potential future research areas in the field of network management.