monday.com Review: Pros, Cons, Features, and Pricing
monday.com provides a finance automation and business management software that helps teams manage workflows and automate repetitive tasks. It best serves finance departments in tech startups, marketing agencies, and e-commerce businesses by simplifying project management and financial planning. Using monday.com enhances productivity with customizable dashboards and integration capabilities, making it an all-in-one project management platform ideal for small businesses and small teams.
It addresses common issues such as task tracking and data consolidation for finance teams. In this article, I'll cover monday.com's key features, pros and cons, use cases, pricing, etc., so you can decide if it meets your department's needs and goals.
monday.com Evaluation Summary
- From $9/seat/month (billed annually)
- Free plan available
Why Trust Our Software Reviews
We’ve been testing and reviewing financial software since 2023. As finance specialists ourselves, we know how critical and difficult it is to make the right decision when selecting software.
We invest in deep research to help our audience make better software purchasing decisions. We’ve tested more than 2,000 tools for different finance use cases and written over 1,000 comprehensive software reviews. Learn how we stay transparent & our software review methodology.
monday.com Overview
In my opinion, monday.com is a solid choice for finance automation, particularly for teams that value user-friendly interfaces and seamless integrations. Its standout features, including customizable dashboards and extensive automation options, make it appealing for tech-savvy teams. Many also appreciate the collaboration features built into the platform. While it offers excellent integration capabilities, some might find its pricing a bit high compared to other options. However, the ease of use and strong customer support can justify the cost for those seeking a reliable project management solution. It's best suited for dynamic teams in industries such as tech and marketing, where team collaboration and automation are key.
pros
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The user interface is intuitive, with a minimal learning curve.
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Automations save your team time on recurring tasks.
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You can create custom dashboards to fit your team's needs.
cons
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It can be overwhelming for teams new to project management software.
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Some users feel the reporting features lack depth.
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You might find the mobile app less responsive than the desktop version.
Is monday.com Right For Your Needs?
Who Would be a Good Fit for monday.com?
monday.com is great for tech startups, marketing agencies, and e-commerce businesses where collaboration and automation are key. Your team will appreciate its customizable dashboards, calendar view options, chart view, and automation features that simplify project management and financial planning. The included online docs feature helps consolidate content from other websites. If you're in a fast-paced environment, monday.com helps keep tasks organized and your team aligned with kanban boards. Its user-friendly interface makes onboarding easy, so you can get started quickly on your projects.
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Tech Startups
Your team can easily manage projects and automate tasks, boosting productivity and keeping the focus on innovation.
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Marketing Agencies
The customizable dashboards help your team track campaigns and client projects efficiently.
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E-Commerce Businesses
monday.com simplifies inventory and order management, keeping your business operations smooth.
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Finance Departments
Automations and task tracking help your team streamline financial planning and analysis.
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Project Managers
The intuitive interface allows you to organize and monitor project timelines effectively.
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Creative Teams
monday.com supports collaboration and creativity with its visual project management tools.
Who Would be a Bad Fit for monday.com?
monday.com might not suit large enterprises or industries that require deep financial reporting, such as banking or insurance. If your work demands complex data analysis and in-depth reporting, you might find monday.com's capabilities limited. Teams that rely heavily on mobile functionality could struggle, as the mobile app is less responsive than the desktop version. Additionally, if you're new to project management tools, the platform's range of features might feel overwhelming.
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Large Enterprises
Your team may find the reporting features lacking for extensive financial analysis.
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Banking Sector
monday.com's current capabilities may not meet the need for detailed financial reporting.
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Insurance Industry
Complex data analysis requirements can exceed what monday.com offers.
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Mobile-Dependent Teams
If your team works primarily on mobile devices, you might find the app's responsiveness insufficient.
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New Project Managers
The platform's extensive features can be overwhelming for beginners.
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Data-Intensive Fields
monday.com may not support the depth of data analysis required in these areas.
How We Test & Score Tools
We’ve spent years building, refining, and improving our software testing and scoring system. The rubric is designed to capture the nuances of software selection and what makes a tool effective, focusing on critical aspects of the decision-making process.
Below, you can see exactly how our testing and scoring works across seven criteria. It allows us to provide an unbiased evaluation of the software based on core functionality, standout features, ease of use, onboarding, customer support, integrations, customer reviews, and value for money.
Core Functionality (25% of final scoring)
The starting point of our evaluation is always the core functionality of the tool. Does it have the basic features and functions that a user would expect to see? Are any of those core features locked to higher-tiered pricing plans? At its core, we expect a tool to stand up against the baseline capabilities of its competitors.
Standout Features (25% of final scoring)
Next, we evaluate uncommon standout features that go above and beyond the core functionality typically found in tools of its kind. A high score reflects specialized or unique features that make the product faster, more efficient, or offer additional value to the user.
We also evaluate how easy it is to integrate with other tools typically found in the tech stack to expand the functionality and utility of the software. Tools offering plentiful native integrations, 3rd party connections, and API access to build custom integrations score best.
Ease of Use (10% of final scoring)
We consider how quick and easy it is to execute the tasks defined in the core functionality using the tool. High scoring software is well designed, intuitive to use, offers mobile apps, provides templates, and makes relatively complex tasks seem simple.
Onboarding (10% of final scoring)
We know how important rapid team adoption is for a new platform, so we evaluate how easy it is to learn and use a tool with minimal training. We evaluate how quickly a team member can get set up and start using the tool with no experience. High scoring solutions indicate little or no support is required.
Customer Support (10% of final scoring)
We review how quick and easy it is to get unstuck and find help by phone, live chat, or knowledge base. Tools and companies that provide real-time support score best, while chatbots score worst.
Customer Reviews (10% of final scoring)
Beyond our own testing and evaluation, we consider the net promoter score from current and past customers. We review their likelihood, given the option, to choose the tool again for the core functionality. A high scoring software reflects a high net promoter score from current or past customers.
Value for Money (10% of final scoring)
Lastly, in consideration of all the other criteria, we review the average price of entry level plans against the core features and consider the value of the other evaluation criteria. Software that delivers more, for less, will score higher.
Core Features
Task Management: Create and assign tasks to your team, keeping everyone aligned on priorities. Easily track progress and due dates at a glance with the visual boards.
Automations: Set up automatic workflows to handle repetitive tasks, freeing up your team's time for more important work. Use triggers and actions to customize these automations.
Time Tracking: Monitor how much time your team spends on each task to improve budgeting and resource allocation.
Customizable Dashboards: Tailor dashboards using drag-and-drop widgets to show the information that matters most to your team.
Reporting: Generate reports to analyze your team's performance and project outcomes. Use insights to make data-driven decisions.
Collaboration Tools: Communicate with your team directly within tasks, reducing the need for constant emails. Keep all project-related discussions in one place, with file storage available for important documents.
Standout Features
No-Code Automations: You don't need technical skills to set up automations. Simply use the intuitive automation tool to set up automated tasks, notifications, and other actions that fit your team's needs.
Visual Workflow Builder: You can create and visualize workflows with ease. This feature helps your team understand processes and ensures everyone follows the same steps.
Ease of Use
monday.com's platform is user-friendly, making it easy for your team to get started quickly. The straightforward interface allows you to customize dashboards and set up automations without needing technical skills. Visual elements, including drag-and-drop boards, simplify task management, helping your team stay organized. Compared to other finance CRM software, monday.com stands out for its simplicity and ease of navigation, allowing your team to focus on work rather than figuring out the platform.
Onboarding
monday.com offers a straightforward onboarding process that helps your team start quickly. The platform provides tutorials and guides that walk you through setting up projects and automations. You'll find the support resources in the knowledge base helpful for resolving questions as they arise. Although some users feel the initial setup can be overwhelming, the available resources and intuitive interface generally lead to a smooth transition. This ensures your team can see value from monday.com sooner rather than later.
Customer Support
monday.com provides reliable customer support through multiple channels, including an online request form and live chat, ensuring your team gets the help it needs. The response time is generally quick, allowing you to resolve issues without significant delays. Users appreciate the comprehensive help center and community forums, which offer solutions to common problems. monday.com offers premium support as part of its top-tier plans, or teams can hire a monday.com expert for help with a specific project. The range of available support and responsive assistance make monday.com a dependable option.
Integrations
monday.com integrates with Slack, Google Drive, Dropbox, Zoom, Microsoft Teams, Shopify, Trello, Jira, HubSpot, and LinkedIn.
monday.com also offers an API and connects with third-party integration tools.
Value for Money
monday.com offers a range of paid plans for its monday CRM product. These plans are designed to accommodate various business needs, though some users find the cost high for smaller teams. The monday.com pricing model is per seat with a three-user minimum, which can impact value. Though there is not a free version of monday CRM, a 14-day free trial allows your team to evaluate the software before committing to a purchase.
- Basic Plan: $12 per seat/month (billed annually); one workspace for individuals and small teams.
- Standard Plan: $17 per seat/month (billed annually); three workspaces, custom automations, and AI-powered tools.
- Pro Plan: $28 per seat/month (billed annually); unlimited contacts, 15 workspaces, and advanced communication and AI-powered tools.
- Ultimate Plan: Reach out to monday.com for pricing; robust security features, unlimited workspaces and automations, and premium support.
New Product Updates from monday.com
monday.com's AI Blocks Now Available to All Users
monday.com AI Blocks are now available to all users, allowing teams to embed AI-powered actions into their workflows. This update makes it easier to automate processes and reduce manual work across boards. Highlights include:
- Universal Accessibility of AI Blocks: Users can now integrate AI into their workflows without restrictions, streamlining tasks and improving efficiency.
- Ready-Made AI Actions: Pre-configured AI tools are available to accelerate workflow processes, reducing the need for manual configuration.
Visit monday.com's official site for more details.
for more details.
monday.com Enhances Governance With AI Spend and Activity Logs
monday.com introduces AI governance with per-user limits and scheduled cleaning activity logs to improve administrative control and oversight. These updates enhance cost management and auditability by providing clearer visibility into AI usage and system activity. Here are the details of the update:
- AI Spend Governance: Allows admins to set per-user AI credit limits with usage monitoring and threshold alerts to control costs.
- Scheduled Activity Logs: Tracks and exports actions like board deletions or archiving to support governance and compliance.
Visit monday.com’s official site for more details.
monday.com Adds Microsoft Teams Messaging In Workflows
monday.com introduces Microsoft Teams messaging in workflows, enabling users to notify specific individuals without leaving the platform. This improves workflow efficiency and keeps stakeholders aligned by reducing the need to switch tools. Here are the details of the update:
- Direct Messaging from Workflows: Users can now send personalized messages to individual Microsoft Teams members directly from monday.com workflows.
- Improved Tool Integration: By integrating messaging, users can maintain communication within the workflow.
- Seamless Stakeholder Alignment: This functionality helps keep all relevant parties in the loop.
Visit monday.com's official site for more details.
monday.com Sidekick Generates Marketing Images
monday.com introduces marketing image generation through monday sidekick, allowing users to create visuals directly within the platform. This improves efficiency by reducing reliance on external design tools and speeding up content creation. Here are the details of the update:
- Image Quality Enhancement: The tool enables users to generate high-quality marketing images, thereby significantly enhancing the impact of marketing campaigns.
- Efficiency in Image Creation: By using monday sidekick, the process of creating marketing images becomes more efficient, saving time for marketing professionals.
Visit monday.com's official site for more details.
monday.com Enhances Managed Templates for Scale and Consistency
monday.com enhances Managed Templates by increasing the instance limit to 1,000 and enabling automatic board view sync across all instances. These updates improve scalability and ensure consistency by keeping structures aligned without manual updates. Highlights include:
- Expanded Instance Limit: Supports up to 1,000 instances per managed template, improving scalability across projects.
- Board View Sync: Automatically syncs board views across all template instances, ensuring consistent structure and visibility.
Visit monday.com’s official site for more details.
monday.com Adds Time Range Support to Calendar Widget
monday.com introduces time range support in the Calendar Widget to display tasks and events across start and end dates. This update improves scheduling accuracy by providing a clearer view of timelines and overlapping activities. Highlights include:
- Time Range Support: Displays events across start and end dates for more accurate scheduling.
- Enhanced Timeline Visibility: Shows task durations instead of single-day entries.
- Flexible Date Mapping: Allows users to connect separate start and end date columns for visualization.
Visit monday.com’s official site for more details.
monday.com Introduces WorkCanvas for AI-Powered Collaboration
monday.com introduces WorkCanvas to enable visual collaboration through an AI-powered canvas for planning and idea organization. This update improves team workflows by centralizing collaboration, reducing fragmentation, and supporting more dynamic project planning. Highlights include:
- AI-Powered Canvas: Enables teams to brainstorm, plan, and organize ideas in a visual workspace.
- Real-Time Collaboration: Allows multiple users to work together on canvases simultaneously.
- Flexible Visual Planning: Supports organizing tasks, workflows, and concepts in a freeform layout.
- Centralized Workspace: Keeps collaboration within monday.com to reduce reliance on external tools.
Visit monday.com’s official site for more details.
monday.com Launches MCP Framework for AI Agents
monday.com launches its MCP server, agent toolkit, and Dynamic API tools to support AI-powered workflow automation. These updates allow agents to query data, create items, and execute actions securely within monday.com. Highlights include:
- MCP Server: Connect AI agents directly to monday.com’s API.
- Hosted MCP: Secure OAuth-based access with workspace controls.
- Dynamic API Tools: Enable advanced GraphQL queries and automation.
Visit monday.com’s official site for more details.
monday.com Introduces AI Blocks for Workflow Automation
monday.com has released an exciting new feature that opens up AI Blocks to all its users. This update allows users to integrate artificial intelligence into their workflows seamlessly, resulting in greater efficiency and smarter work processes. Here are the details of the update:
- AI Blocks Accessibility: Now available for every user, ensuring everyone can benefit from AI enhancements.
- Ready-Made AI Actions: Pre-designed AI actions are integrated easily, speeding up workflow and decision-making processes.
- Enhanced Workflow Productivity: Users can expect more efficient task management and improved productivity outcomes.
Visit monday.com's official site for more details.
monday.coms Project Setup with Batch Dependencies
monday.com has introduced an update that significantly enhances project setup through batch dependencies, streamlining the process of dependency mapping to save valuable time.
This improvement allows users to create complex sequential workflows across multiple tasks with just a single click, adding tremendous efficiency to project management. Some important aspects that were part of this update include:
- Batch Dependencies: Instantly apply dependencies to multiple tasks, transforming hours of work into a one-click solution.
- Complex Workflow Building: Facilitate the construction of complicated task workflows, simplifying delegation and execution.
Visit monday.com's official site for more details.
monday.com Specs
- API
- Batch Permissions & Access
- Budgeting
- Calendar Management
- Collaboration Support
- Contact Management
- Contact Sharing
- Customer Management
- Dashboard
- Dashboards
- Data Export
- Data Import
- Data Visualization
- Dependency Tracking
- Document Sharing
- Expense Tracking
- External Integrations
- File Sharing
- Gantt Charts
- Kanban Boards
- Multi-User
- Notifications
- Project Management
- Resource Management
- Scheduling
- Task Scheduling/Tracking
- Third-Party Plugins/Add-Ons
- Time Management
- Travel Management
- Workflow Management
monday.com FAQs
How do I manage user access and permissions in monday.com?
What training or resources are available for new users?
Is there a way to track project progress and deadlines?
Can monday.com integrate with our existing financial software?
How does monday.com handle data security and compliance?
Can monday.com be customized for specific finance workflows?
Does monday.com support collaboration across different departments?
How does monday.com ensure data accuracy and integrity?
monday.com Company Overview & History
monday.com is headquartered in Tel Aviv, Israel, and employs over 3,000 people. The company's work platform offers a suite of products, including monday work management, monday CRM, monday dev, and monday service. Known for its vibrant work culture, monday.com has gained attention for its user-friendly platform and extensive customization options. Notable clients include Compass, Coca-Cola, and Datacom. After completing its IPO in 2021, the company was valued at $7.5 billion.
monday.com Major Milestones
2012: Founded by Roy Mann and Eran Zinman.
2014: Launched its first product.
2019: Reached unicorn status with a valuation over $1 billion.
2021: Went public on NASDAQ, achieving a valuation of $7.5 billion.
2022: Expanded its product line to include CRM and development tools.