Applications which need to process and manage large graph data sets have imposed significant challenges for data science community in recent times. This talk discusses the key challenges which need to be handled when implementing a next-generation graph processing and management platform. There are several key problems which needs to be addressed in building such large graph processing system. First, optimized techniques needs to be followed for managing extremely large graph data. Second, new programming models and software tools need to be created for efficiently processing large graphs. This talk will discuss the approaches which need to be followed in addressing these two major issues and will highlight our vision in achieving the challenges of next-generation graph processing and management.