Document Studio is a stand-alone application used for designing document templates through various views and wizards. You can choose elements to create a template that can populate and format the latest data from your data source.
The Launcher is a stand-alone application used to create document specifications and generate output documents from these specifications. The Launcher can run from a command-line utility to schedule unattended builds for generating a set of documents. You can choose manual or wizard-driven document generation, as you are most comfortable. The Launcher is also accessible from Document Studio; when used from Document Studio, you can automatically synchronize the document specification with the current template.