Yeah, it depends on how big your teams are. There are some perf issues on the on premise solution, but when you're dealing with dozens of teams, each about 5-6 engineers all following scrum or kanban, you really need something like Atlassian.
While this is typically how it's been done in my experience I really don't agree. My take on JIRA is that it can literally do anything project-management wise but everything it does is cumbersome and slow.
I wish there were more alternatives that had SOME similar feature sets (certainly not all of the features; most of the JIRA ones can be interchanged with its other features) and was significantly faster to use.
Email in profile, feel free to get in touch if you want more detail.