At Sommo, we've been engaged in product management for over 10 years. During this time, we've developed more than a hundred products, both our own and for clients.
In our experience, choosing the right product management tool is as crucial as the managers' qualifications. It can save up to 20% of resources for all team members, from stakeholders to developers.
We've tried many product management tools, such as Jira and Asana. Our latest (and spoiler alert—impressive) experience is with monday.com.
Monday.com, a flexible project management platform, provides customized solutions designed for the unique requirements of product managers. Recognized for its extensive features, monday.com allows teams to simplify their processes, improve teamwork, and monitor progress effectively.
Monday's clients, such as Zippo, Canva, Universal Music Group, and Motorola, have reported substantial increases in productivity—8x ROI, a 40% faster product line, and an added $120k in value due to increased team productivity (Monday.com).
This overview of product management using monday.com delves into how the platform can revolutionize conventional product development methods and establish itself as a vital resource for contemporary product teams.
What is Monday.com
Monday.com is a cloud-based work management platform that supports team collaboration and workflow automation across various sectors.
Founded in 2012, originally under daPulse, the company rebranded to monday.com in 2017 (Wikipedia). The platform allows users to create custom work management tools and software applications using features like dashboards, integrations, templates, and automation pipelines (Craft).
Monday.com positions itself as a versatile "Work OS" that can adapt to the specific needs of any team or organization, making it a comprehensive tool for managing work in any business environment. Its highly customizable platform supports many integrations and automation designed to streamline complex processes and enhance productivity.
Monday.com serves 186,000 paying customers and operates in over 200 countries. Its unique retention rate was 110% as of the third quarter of 2023, indicating intense customer satisfaction and expansion within its existing customer base (Craft).
Among others, Monday.com provides a solution for product management - Monday.com Dev.
Monday features for product management
Monday.com Dev is a platform that supports research and development teams overseeing their product development journey. It offers resources for planning roadmaps, managing sprints, tracking bugs, and handling feature backlogs.
Users can personalize workflows to match their specific product strategies and utilize automation for tasks while integrating with popular tools like Slack and GitHub. The platform encourages teamwork across departments and promotes synchronization among all team members.
Monday.com offers features for planning roadmaps, managing sprints, tracking bugs, and handling feature backlogs.
1. Product roadmap - Monday provides a super-convenient visual representation, ensuring everyone understands the big picture and the steps required to achieve product objectives.
2. Spring management. You can manage your sprint cycle smoothly, handling everything from planning sprints and daily check-ins to reflecting on progress and reviewing sprints.
3. Feature requests. A key mechanism for ensuring that a product continues to meet the evolving needs of its users and remains competitive in the market. Managing them effectively is crucial for any product-driven organization.
4. Bug reports are crucial for maintaining the quality and reliability of the product in product management. Monday provides a perfect tool for effective bug report management, which is essential for ensuring that the product performs as intended and meets user expectations.
5. Burndown charts. Monday Dev allows you to effectively monitor sprint progress by using the burndown chart to compare actual remaining effort with ideal progress, helping you spot any issues or bottlenecks quickly.
6. Knowledge database. Teams facilitate through collaboration on documents and project management in this workspace, streamlining processes and tapping into collective knowledge right within Monday.
Why use Monday for product management?
In essence, Monday.com provides a wide range of features tailored specifically for product management needs. Here are a few reasons we detected why Monday is so popular for product management:
Adaptability. Monday.com offers a flexible and customizable interface that enables teams to create boards, workflows, and processes tailored to their specific requirements. Their drag&drop features are fantastic!
Visual representation. Monday.com incorporates visual representations like boards, cards and timelines to help product managers organize tasks, track progress and visualize project timelines easily.
Integration. Monday.com seamlessly integrates with various tools commonly used in product management such as Slack, Jira, GitHub, among others. This integration simplifies workflows by consolidating information and reducing the necessity to switch between different tools.
Automation and AI. The automation capabilities of Monday.com enable teams to automate repetitive tasks, notifications and reminders which helps save time while reducing the chances of human error.
Scalability. Monday.com is designed to be scalable, accommodating the requirements of small teams as well as large corporations. It can adjust and support increasing complexity and workloads as the product grows and evolves.
Data Analysis and Reporting. Monday.com includes tools for monitoring project metrics, creating reports, and examining data. These analytical features empower product managers to understand team performance better, pinpoint bottlenecks, and make informed decisions based on data to enhance efficiency and productivity.
Monday’s Template Center for product management
The Monday.com Template Center offers various customizable templates tailored for product management purposes. These templates help organize and visualize multiple elements of product management, including feature roadmaps, product development timelines, and project monitoring.
You can utilize these templates to establish a systematic workflow, monitor progress, and coordinate cross-functional teams efficiently.
Pricing
Monday.com offers various pricing plans catering to different needs, structured primarily around team sizes and feature requirements.
The main options are:
- Free Plan: Ideal for individuals, offering essential features with up to 2 seats.
- Basic Plan: Starts at $9 per seat/month, providing more storage and support features.
- Standard Plan: Priced at $12 per seat/month, adds timeline views, calendar views, and guest access.
- Pro Plan: At $19 per seat/month, it includes advanced workflow tools like time tracking and formula columns.
- Enterprise Plan: Custom pricing for large organizations needing advanced security, reporting, and support.
These prices are based on annual billing, and the platform offers a range of capabilities, from task management to complex project planning across these tiers.
Security
At Sommo, we often encounter clients' increased demands for information security regarding the project and its users.
Monday.com employs several robust security measures to ensure the safety of its users' data. It adheres to international standards such as ISO/IEC 27001:2013 for information security management and ISO/IEC 27018:2014, which focuses on protecting personally identifiable information in cloud environments. Additionally, it complies with SOC 2 Type 2 standards, ensuring a high level of trust and security in its services.
The platform hosts its data on Amazon Web Services and Google Cloud Platform, both of which employ stringent physical security measures. This hosting arrangement includes multiple Availability Zones to ensure data reliability and continuous availability. Furthermore, monday.com has implemented a disaster recovery site in another AWS region to enhance data resilience (monday.com).
Monday.com ensures HIPAA compliance primarily through its Enterprise plans designed for organizations that require adherence to strict privacy and security standards mandated by HIPAA. To become HIPAA compliant with Monday.com, organizations must activate this feature by accepting a Business Associate Agreement (BAA) and configuring their accounts accordingly. This includes technical safeguards like encryption, access controls, and audit trails, which are essential for protecting Protected Health Information (PHI).
Outro
In conclusion, adopting monday.com as your product management tool could significantly elevate your team's efficiency and productivity. The platform's robust features not only facilitate seamless project management but also integrate smoothly with existing tools, helping you manage everything from roadmap planning to bug tracking with ease.
If you're looking to streamline your product development process and build your product 10x faster using a no-code approach, don't hesitate to contact the Sommo team. Let us help you transform your product strategy.
