I own Monday stock, but I honestly don’t get how they get so many sales. It just doesn’t seem like something that valuable to me. We use MS Teams / Atlassian for the most part at my company. Project Managers are using whatever hodgepodge they need to excel, MS project, Jira, etc. Why would we pay presumably tens of thousands for another add on system? I looked at the SW dev page and it seems like a cleaner Jira, but we already have Jira integrated with the rest of atlassian, SW builds and releases, so I’m not clear on the benefit there.
Let me take a stab of the differences and benefits between Jira’s and Monday’s tools. Others, please correct me if you have a different understanding.
Atlassian Jira is a very effective tool for ticket and task management. I used Jira and Confluence extensible for 7 years for this purpose and it later became widely adopted across my company by other departments. Jira even allows you to customize the ticket/task workflow schema and customize the input displays for creating/modifying a ticket. You open and close Jira tickets/tasks. You can control authorization of access and visibility on a ticket basis. And there is an Agile developers process extension. One critical advantage of Jira is it is a shared ticketing/tasking system that is always current and can be changed collaboratively by others in real time. I am a strong proponent of Jira and a former stockholder of TEAM (though I sold it a little too soon perhaps).
MS Project is a very effective tool for fine grained project management of complex task and resource complexities. Jira is not the best tool for this. When I say complex, I mean a granular control of resources (both human and material), time windows, and task dependencies. For this, my tool of choice is MS Project. Here you have considerable input of information per task and intra task dependencies. You can report in many ways such as resource loads (is a person’s hours overloaded any day/week/month?) and visually identify potential bottlenecks using the Gannt chart view, etc. The you can jump between entry formats such as spreadsheet, Gannt, and resource availability (part time, vacation time, etc.) for the most expeditious method that suits you and the job. When a task is delayed, the schedule impact can be visually seen across the project and resources. MS Project plans are created on your computer device and then shared on a server (e.g. Sharepoint) periodically viewed by others. Linking of projects can be a bit cumbersome. MS Project is mostly used by larger engineering projects
Monday is more like a cloud-based MS Project than Jira, though Monday offers you a task management capability like Jira. Albeit people are purchasing Monday to do both. Monday is a cloud service that supports fine grained project management with full real time collaboration albeit without the high per seat cost of MS Project. Further, other teammates can work concurrently on the same project plan.
Why buy the Monday service? It is a more collaborative project planning service that is cloud based. You can do both task/ticket management as well as fine grained project plans. The cloud interface seems designed to facilitate plan development beyond the typical engineering realm into areas such as IT, Operations, and Marketing. Cost and budgeting are supported.
Why buy the Monday stock? It has accelerating revenue growth and good net revenue expansion. Monday should be a good SaaS pony to ride until it is not.
-zane