From a cursory glance at their website, sure. From having actually used both of them, Qualtrics is far superior in its featureset and how that featureset is presented, although surveymonkey has got a lot better recently.
Geneally speaking my advice to the multimedia team would be "don't go near surveys". I've done a lot of them in the last 3 years, and the one thing I've learned is that surveys are very, very difficult to get right. Another thing I've learned is that if you don't get them right, the results are meaningless and it's hard to tell when that happens.
As I understand it, Jared's team is hiring a qualitatively-focused UX researcher or two in the upcoming budget to do research around design and feature usage; we should hold off until they come in, first because they're simply going to be better at it than we are, and second because it's probably going to be frustrating for them if they come in and find a tool locked in as How We Do Things (and frustrating for us if they want to change that tool):