Total Economic Impact Study Reveals monday.com Partners Saw 100% YoY Growth in Service Revenues
20 Dicembre 2023 - 2:00PM
Business Wire
“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.
Visit us on our LinkedIn, X (formerly Twitter), Instagram,
YouTube, TikTok, and Facebook. For more information about
monday.com please visit our Press Room.
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version on businesswire.com: https://www.businesswire.com/news/home/20231220493945/en/
Media Relations Contact: Ilit Gluska
ilitgl@monday.com
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