NFV aims to reduce network operators' costs and improve service delivery speeds by using virtualization technology to consolidate network functions onto industry-standard servers and switches located in data centers. This allows functions like routing, firewalls, and load balancing to be delivered as software rather than via proprietary hardware appliances. NFV promises benefits like reduced capital and operational expenditures, increased flexibility and agility to deploy new services, and easier scaling of network functions. The ETSI NFV working group is working to define requirements and approaches for NFV implementation through industry collaboration.