The New Small Wheel Upgrade of the ATLAS experiment at CERN, planned to take place at 2020, requires a new generation of front-end electronics that will support its data acquisition requirements. Here, the VMM Application-Specific Integrated Circuit has been in development for the last seven years to serve as the foundation of the New Small Wheel's readout scheme. It has gone through three major revisions and a minor one, the latter being the production version. To facilitate the testing and readout of the VMM, as well as to study its detector performance, a complete readout system has been developed. It consists of flexible Field-Programmable Gate Array logic with extensive functionality, and an efficient software framework providing the user interface. This system, referred to as the "The VMM Readout System", has been used in test-beam campaigns at CERN, as well as in bench calibration and testing measurement scenarios for the past several years, supporting all readout modes and features of the VMM.