“The Partner Opportunity for monday.com Work OS” uncovers the financial impact opportunities for monday.com’s global partners
monday.com Ltd. (NASDAQ: MNDY) (“monday.com”), a work operating system (Work OS) where organizations of any size can create the tools and processes they need to manage every aspect of their work, today announced the results of the commissioned Total Economic Impact™ (TEI) study conducted by Forrester Consulting, The Partner Opportunity for monday.com Work OS, which reveals how monday.com empowers its partners to grow their revenue and expand market presence.
The TEI study of monday.com's partner ecosystem examines the potential return on investment (ROI) enterprises can obtain by deploying monday.com and is based on several monday.com partner interviews across Europe, North America, and Australia, conducted by Forrester which aggregated results into a single composite partner organization. The study found that monday.com partners saw 100% YoY growth in service revenues, 65% ROI over three years, $3M in total service revenues over three years as well as a seven-month investment payback period.
“We’re thrilled to learn of and share the findings from this study, as we continue to further empower our global partners to seamlessly integrate into our ecosystem, unlock their growth potential, and increase profitability with diversified revenue streams,” says Ophir Penso, VP of Partnerships at monday.com. “In the year ahead, we’ll further invest in our partners while growing our product suite, including monday sales CRM and monday dev, to provide them with even greater offerings for our diversified user base.”
Additional survey results show that 80% of the partners' overall revenue in the composite is attributed to their monday.com practice, a dedicated team that supports monday.com sales and professional services, and that the composite partner organization saw three-year benefits of $7.98M from reselling the monday.com Work OS to its customers to address their unique use cases, providing packaged and custom service solutions, developing its own applications on the monday.com app marketplace as well as other revenue streams.
“Our growth within our own monday.com practice has absolutely skyrocketed, and our profitability is excellent,” says Jack Taylor, CEO at Upstream, a monday.com partner.
monday.com’s expansive partner network and robust app marketplace play a pivotal role in driving the growth of the monday.com ecosystem, increasing the ability to serve all types of organizations across virtually any industry with 210 active channel partners, approximately 2,000 referral partners, 393 marketplace apps, and 218 apps collecting payments, as of Q3 2023.
You can learn more about monday.com’s partner ecosystem here and download the complimentary Forrester TEI study here.
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, Miami, Chicago, Denver, London, Warsaw, Sydney, Melbourne, São Paulo, and Tokyo. Fully customizable to suit any business vertical, the platform is currently used by over 186,000 customers across more than 200 industries and in over 200 countries and territories.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20231220493945/en/
Contacts
Media Relations Contact:
Ilit Gluska
ilitgl@monday.com
