It's wonderful. I worked on teams with standups for years, and they were utterly mind-numbing and worthless unless you're collaborating with someone, in which case they're just redundant.
However, it's made our standups much faster (5-7mins) because everyone has put into words yesterday's work, today's work, and their blockers. I know there's an argument to switching over to text-based async updates entirely - why do things twice, right? But even so it's an improvement over the traditional standup where most of the content is ad-libbed and can tend toward rambling.
[1] - http://jell.com - no affiliation, just like how it works.
If you post into Slack, this will compile everything into a daily email. We used it for a bit but then people got lazy about posting or completely forgot about it. It may work for you team.
Handy to have the Slack bot remind us in the morning so no one forgets.