Compare Xero and monday.com - Feb 2023

Shlomi Lavi

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Bottom Line: Which is Better - Xero or monday.com?

monday.com is more expensive to implement (TCO) than Xero, and monday.com is rated higher (98/100) than Xero (94/100). monday.com offers users more features (35) than Xero (13).

Looking for the right Core Accounting solution for your business? Buyers are primarily concerned about the real total cost of implementation (TCO), the full list of features, vendor reliability, user reviews, and the pros and cons. In this article we compare between the two software products:

Xero Vs. monday.com

Xero : Xero was founded in July 2006 by successful technology entrepreneur Rod Drury and specialist small business accountant Hamish Edwards. Xero is listed on the New Zealand Stock Exchange and the Australian Securities Exchange and is a fast growing company with teams in Wellington, Auckland, Melbourne, Sydney, Brisbane, San Francisco, and Milton Keynes...

monday.com: Founded in 2012 and launched as an independent startup in February 2014, monday.com is a tool that transforms the way teams work together. Our mission is to help teams build a culture of transparency, empowering everyone to achieve more and be happier at work. We're obsessed with building an excellent product, and our goal is to create a tool that ...

Who is more expensive? Xero or monday.com?

The real total cost of ownership (TCO) of Core Accounting software includes the software license, subscription fees, software training, customizations, hardware (if needed), maintenance and support and other related services. When calculating the TCO, it's important to add all of these ”hidden costs” as well. We prepared a TCO (Total Cost) calculator for Xero and monday.com.

Xero price starts at $12 per month , On a scale between 1 to 10 Xero is rated 2, which is much lower than the average cost of Core Accounting software. monday.com price starts at $10 per seat/month , When comparing monday.com to its competitors, the software is rated 4 - lower than the average Core Accounting software cost.

Bottom line: monday.com is more expensive than Xero.

Which software includes more/better features?

We've compared Xero Vs. monday.com based on some of the most important and required Core Accounting features.

Xero: this software is considered "feature-rich" with more than 10 important features, here is a partial list: Accounts Payable, Accounts Receivable, Billing & Invoicing, Budgeting & Forecasting, Fixed-Assets, Purchase Orders, Data Analysis Tools, Forecasting.

monday.com: Basic Reports, Chat, Customizable Categories, Dashboard, HR Analytics.

Target customer size

Xero is best for small businesses, freelancers and non-profit organizations.

Monday.