Most direct replacement lithium batteries have a Battery Management System built in to the case, you don’t need an external one anymore unless you choose to build it up yourself from separate cells.
A Battery Monitoring System however, is a different thing, like the Victron BMV 712 is useful in determining the state of charge and charging/draining figures. These generally do not cut off the battery to prevent over discharge.
Some batteries like the Victron Superpacks have a built in cut off as well, but if you use one that doesn’t, the Victron smart battery protect does the same thing in an external module.