monday.com Named a 2024 Gartner® Magic Quadrant™ Leader for Adaptive Project Management and Reporting

Rhea-AI Summary

monday.com (NASDAQ: MNDY) has been named a Leader in the 2024 Gartner® Magic Quadrant™ for Adaptive Project Management and Reporting (APMR) for the third consecutive year. The company was positioned furthest in both 'Completeness of Vision' and 'Ability to Execute' categories. This recognition reinforces monday.com's status as a leading low-code, no-code work management platform for enterprises.

Recent innovations by monday.com include:

• Portfolio management solution
• AI integration across the Work OS platform
• mondayDB 2.0 for enhanced board and dashboard capabilities
• monday workflows for complex, cross-account processes

These advancements aim to provide customers with cutting-edge solutions for managing their work efficiently and adaptively.

Positive

• Named a Leader in the 2024 Gartner® Magic Quadrant™ for APMR for the third consecutive year
• Positioned furthest in 'Completeness of Vision' and 'Ability to Execute' categories
• Launched Portfolio management solution for project managers
• Integrated AI across the Work OS platform to enhance user experience
• Introduced mondayDB 2.0 to manage boards with up to 100,000 items and dashboards with up to 500,000 items
• Rolled out monday workflows for building complex, cross-account, cross-product workflows

Negative

• None.

Market Research Analyst

monday.com's recognition as a Leader in the 2024 Gartner Magic Quadrant for APMR, positioned furthest in both 'Completeness of Vision' and 'Ability to Execute', is a significant achievement. This accolade, received for the third consecutive year, validates the company's strong market position and product strategy. The recognition likely enhances monday.com's credibility among enterprise clients, potentially driving increased adoption and market share growth.

The company's recent product innovations, including Portfolio management, AI integration, mondayDB 2.0 and monday workflows, demonstrate a commitment to continuous improvement and addressing evolving customer needs. These enhancements could lead to higher customer retention and expansion of existing accounts, important factors for SaaS company valuations.

However, investors should note that while Gartner recognition is prestigious, it doesn't directly translate to financial performance. The competitive landscape in the project management software market remains intense and monday.com will need to maintain its innovation pace to retain its leadership position.

Tech Expert

monday.com's technological advancements are impressive and strategically aligned with market trends. The introduction of Portfolio management addresses a critical need for enterprise-level project oversight, potentially expanding the company's enterprise customer base. The integration of AI across the Work OS platform, including GenAI features, positions monday.com at the forefront of the AI-driven productivity tools trend.

MondayDB 2.0's ability to handle up to 100,000 items per board and 500,000 items in dashboards represents a significant scalability improvement, making the platform more attractive for large-scale enterprise deployments. The monday workflows feature, enabling complex, cross-account processes, demonstrates the platform's growing sophistication and ability to support intricate business operations.

These technological enhancements collectively strengthen monday.com's value proposition, potentially leading to higher average revenue per user (ARPU) and improved customer lifetime value (CLV). However, the rapid pace of innovation also implies ongoing R&D investments, which investors should monitor in relation to the company's profitability goals.

monday.com Positioned Furthest in ‘Completeness of Vision’ and ‘Ability to Execute’

NEW YORK & TEL AVIV, Israel--(BUSINESS WIRE)-- monday.com Ltd. (NASDAQ: MNDY) (“monday.com”), the multi-product platform that runs all core aspects of work, today announced that it has been named a Leader in the 2024 Gartner® Magic Quadrant™ for Adaptive Project Management and Reporting (APMR) report.

This is the third time monday.com has been recognized as a Leader in the Gartner Magic Quadrant for APMR, which is in its third year. The evaluation was based on the specific criteria that analyzed the company’s overall ‘Ability to Execute’ and ‘Completeness of Vision.’ As a result, monday.com was positioned furthest in both categories.

“We are honored to be recognized as a Leader in the Gartner Magic Quadrant for APMR and positioned furthest for ‘Completeness of Vision’ and ‘Ability to Execute’,” says Daniel Lereya, Chief Product and Technology Officer at monday.com. “We believe this recognition solidifies our position as an industry-leading low-code, no-code work management platform built for enterprises to streamline workflows with clarity and scalability. From day one, we have built our platform to be flexible and adaptive, knowing that workers need to be able to dynamically pivot how they work and quickly adjust their tools to their organization's changing needs. We will continue to prioritize providing organizations with solutions that cultivate cross-functional collaboration that drives execution. We're thrilled to be recognized for the third consecutive year and excited to continue being a vital partner to our 225,000+ customers.”

monday.com recently released several new solutions and capabilities for customers who rely on the company for cutting-edge solutions to manage their work. These include:

• Portfolio: monday work management released its Portfolio management solution as a first meaningful step in providing portfolio and project managers with a ready-to-go workflow to oversee all their portfolio management needs.
• Incorporating AI: monday.com actively integrates AI across the Work OS platform to enhance user experience through advanced automation and improved task management collaboration. In Q2, new GenAI features were introduced, including auto-generated action items, thread summaries, and enhanced text extraction capabilities.
• mondayDB 2.0: monday.com continues its efforts to enhance the platform’s underlying architecture with the launch of mondayDB 2.0. With mondayDB 2.0, customers will soon be able to manage boards with up to 100,000 items and linked items, and dashboards with up to 500,000 items, significantly advancing their work capabilities.
• monday workflows: monday.com began rolling out monday workflows, an advanced tool that allows businesses to build highly complex, cross-account, cross-product workflows visually and collaboratively. This new tool extends the boundaries of what's possible with monday automations and empowers enterprise users to create sophisticated, multi-step processes across boards, teams, and accounts.

The Gartner® Magic Quadrant™ report provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct. Download the complimentary report here to learn more about why monday.com was recognized as a Leader.

Gartner Disclaimer

Gartner, Inc. Magic Quadrant for Adaptive Project Management and Reporting. Kevin Rose, Sean Bankston, etl. 4 September 2024.

GARTNER is a registered trademark and service mark of Gartner, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.

MAGIC QUADRANT is a registered trademark of Gartner, Inc. and/or its affiliates and is used herein with permission. All rights reserved.

Objectivity disclaimer: Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner’s research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

About monday.com:

The monday.com Work OS is a low code- no code platform that democratizes the power of software so organizations can easily build work management tools and software applications to fit their every need. The platform intuitively connects people to processes and systems, empowering teams to excel in every aspect of their work while creating an environment of transparency in business. monday.com has offices in Tel Aviv, New York, Denver, Chicago, London, Warsaw, Sydney, Melbourne, São Paulo, and Tokyo. Fully customizable to suit any business vertical, the platform is currently used by over 235,000 customers across more than 200 industries and in over 200 countries and territories.

Visit us on LinkedIn, X (formerly Twitter), Instagram, YouTube, TikTok, and Facebook. For more information about monday.com please visit our Press Room.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240910745440/en/

Media Relations contact:

Tiffani Gibson, Senior Communications Manager

tiffanigi@monday.com

Source: monday.com Ltd.

FAQ

What recognition did monday.com (MNDY) receive in the 2024 Gartner Magic Quadrant?

monday.com was named a Leader in the 2024 Gartner Magic Quadrant for Adaptive Project Management and Reporting (APMR) for the third consecutive year, positioned furthest in both 'Completeness of Vision' and 'Ability to Execute' categories.

What new features has monday.com (MNDY) recently introduced?

monday.com has recently introduced Portfolio management solution, AI integration across the Work OS platform, mondayDB 2.0 for enhanced board and dashboard capabilities, and monday workflows for complex, cross-account processes.

How many customers does monday.com (MNDY) currently serve?

According to the press release, monday.com currently serves over 225,000 customers.

What is the capacity of mondayDB 2.0 introduced by monday.com (MNDY)?

mondayDB 2.0 allows customers to manage boards with up to 100,000 items and linked items, and dashboards with up to 500,000 items.