Lewis: It just makes your product more and more useful, Brian. That's where you start seeing your big contracts growing even faster, because they have the scale, they have the budget to lay it out and say, you know, we're going to go relatively wall-to-wall across the enterprise with the solution, we're not just going to have marketing use it. shoot us an email at IndustryFocus@Fool.com or tweet us @MFIndustryFocus. So, it's a hybrid model. However, I am not exactly comfortable with where the company is in its money-losing cycle just yet. The product is so easy to use that anyone that has experience using digital devices can use it right away. It can be used for many different projects and industries. I think when we look at TAM [total addressable market], you basically look at whatever's in the prospectus and you say, "Yeah, sure." Lewis: Exactly. Had to up the pace a little bit on that one, Brian, to make it through. No one wants to be working in a clunky and messy system. Slack has the most reviews with a total of 19,671, while Asana … Lewis: [laughs] Yeah. But again, this is a company that's growing its revenue 50% and has 87% gross margins. But really what all of these different software solutions are trying to do, what Asana is trying to do, is avoid duplicative work and avoid wasting time checking in on things, creating that central space for everyone to easily have a sense of what's going on. If you're looking for more of our stuff, subscribe on iTunes or wherever you get your podcasts. If you want to check out its comprehensive feature set, you can easily sign up for monday.com free trial here. Investors have noticed Asana's success as well. I think anyone with an Outlook Calendar can [laughs] probably appreciate that one, Brian. While many people use it as a business or project management tool, I find Asana … When it started, there was no established market for this type of software. But as you just said, 4.9 stars out of 5. I am critical of it when it's something like cloud storage, and you know it's really just a place to put your files, but with this, it's functionality, it's streamlining operations. So, it's likely to be some time before they can switch over to generating cash. If you are looking for the top alternative to Asana, monday.com may be the best one. Lewis: And to be fair, Brian, that's a petty knock on my part [laughs] about the gross margins. So, Asana has a similar problem. That's where you start seeing the money flow to the bottom line, that's where you start seeing cash flow, and that's what investors love to see. They do have $330 million in convertible notes that we should certainly knock them for and count as debt. Feroldi: Yeah, I can see once a company converts to using this, gets used to using it and has it up-and-down the organization. That tends to be the thing that I'm most interested in when I look at a business and I'm really trying to figure out whether or not it's investable. And really, just it proves the value. Below is a detailed overview of Asana and top five Asana alternatives, including their most distinctive features, advantages and disadvantages, pricing, and other critical elements. They get into Asana's founding story and how the company is helping teams work more effectively together. Nutcache provides users with a platform that offers collaborative boards, a useful project dashboard, as well as invoicing and time management tools. I think the test is, you know, some people might be familiar with the snap test; the idea that a company disappears and people realize it; it's can you get work done, you know? Once you get those integrations going, it's even harder to rip the software out. Asana’s growth has been slow and steady. Like other startup marketing teams, our team at Asana has been an enthusiastic adopter … Our experts highly recommend this product not only for its powerful features and intuitive design, but they also feel that it is fairly priced. As we said at the top of the show, they're actually integrated with companies like Salesforce.com and Microsoft. And the ratings for him are absolutely incredible: 4.9 stars on Glassdoor. I mean, if you want to get your hands on a high-quality stock, you really have to pay through the nose these days. It enables you to manage the project development process making sure all things will be covered, from start to launch. And you did a great job, as always. Developed by Dynacom Technologies, this project management solution allows you to send invoices and quotes to clients, allowing you to collect payments faster. 77% said it reduces wasted time, and 74% said Asana helps them accomplish tasks more quickly. The answer there is Trello, that's made by Atlassian. As always, people on the program may own companies discussed on the show, and The Motley Fool may have formal recommendations for or against stocks mentioned, so don't buy or sell anything based solely on what you hear. Lewis: Yeah, I think to maybe back this out and give a really easy, simplified example of this for someone who isn't familiar with this type of software, Brian, anyone who watches Silicon Valley or a show that is tech-oriented, and they see the big board with all of the projects and all of the sticky notes on there, and the idea that you are moving the status of a project along in the workflows as things are being accomplished, perhaps adding notes, adding updates, so other team members can see it in a centralized location. 1 thing that sticks out to me for its awesomeness. You need to pay a large fee in order to get the features you want…softwares like Quire or Zenkit are better when it comes to free features. Feroldi: Yes. It has consistently ranked high amongst our rankings. It kind of makes sense that they're making those investments right now. Among the best project management solutions in the market today is Asana. Wrike is a management and collaboration solution that can give you real-time project insights. Stephanie Seymour is a senior business analyst and one of the crucial members of the FinancesOnline research team. Not 99%, 100%. Dustin and Justin both found that they were spending an inordinate amount of time on really repetitive tasks that had nothing to do with building the company, such as answering emails, attending meetings that were all about status, gathering information, internal communication. And they have some numbers to prove or at least showcase that employees and customers feel that their software is doing that. Being a good tool for small businesses and even large companies, Nutcache combines project management, time management, collaboration, and invoicing into a neat, single, but very powerful platform. Feroldi: And this is a founding story that we've heard over and over again. So, I think that that's just a leadership team that's doing a lot to retain talent, understands the work/life balance and understands that it's a competitive advantage and it's a good thing to do for their employees. They get into Asana's founding story and how the company is helping teams work more effectively together. Your operations and your workflows are so dependent on these types of software suite solutions, and that's a good thing if you're Asana, it's a great thing if you're Slack. Trello has attracted over five million users, including businesses such as Google, Kickstarter, and PayPal. And I think something that will be familiar to people, even if they don't know the space very well, is the model that this business is operating on. I mean, if you took away Slack from The Fool right now, we would all be extremely upset having to go back to email. According to a Glassdoor survey, two thirds of job hunters indicated that diversity was important to them when evaluating companies and job offers.In a competitive … This is such an unfocused question that unless you are familiar with the breath and size of the San Miguel Corporation it would take a book to answer this question. Lewis: Yeah. That's some real feedback that is certainly an attractive number for potential customers to look at. JIRA has a simple and intuitive interface that enables better collaboration with your teammates and allows you to effectively get the job done. Feroldi: I think that they make sense. And they're probably punching a little bit about their weight class on my watch list because of that, but it's a company that I'm rooting for, because I think they're doing a lot of things right, doing right by their employees, they seem to be doing right by their customers. Important features of such software solutions enable the organization and delegation of tasks, essentially enhancing visualization levels of project timelines as well as processes. Well, according to IDC, they believe that the market for this kind of software is currently worth $23 billion. Be nice. She’s fascinated by how companies dealing with big data are increasingly embracing cloud business intelligence. • Clean interface: I prefer things to look clean and have clear navigations. From meeting crucial deadlines, to selecting the right resources and boosting your office teams, Microsoft Project can deliver new and intuitive experiences to set up, manage, as well as collaborate with various teams, individuals, and enterprises. I'm your host Dylan Lewis, and I'm joined by Fool.com's salty superstar sultan of stratospheric SaaS stocks, Brian Feroldi. If you want to learn more about the merits of this project management software you can read our detailed review of Nutcache. But really, if you have someone who is going to be an evangelist for any of these systems, that is probably going to be the system that you wind up adopting internally if you're in a 100-employee operation or something like that. Now, let's talk about our favorite metric when it comes to SaaS stocks like this: dollar-based net retention rate. They've done a great job at building this out. Benefit: Drawing from a culturally diverse talent pool allows an organization to attract and retain the best talent. You can find more information about how the software works in our detailed review of Trelllo or you can read our comparison or Asana vs Trello. His other co-founder, Justin Rosenstein, owns about 15%. And what I really like, because I watched some of the interviews preparing for the show that he's given in the past -- he is a very calm, cool, collected, level-headed executive. You can learn more about Asana’s features and pricing plans from our detailed review of Asana. document.getElementById("comment").setAttribute( "id", "a8d3d671d6da89d7e89d314780261f70" );document.getElementById("g870abf955").setAttribute( "id", "comment" ); FinancesOnline is available for free for all business professionals interested in an efficient way to find top-notch SaaS solutions. Feroldi: You can't fake numbers like that. Been sticking to these two apps lately, zenkit is a bit slow though. In addition, Nutcache comes with a multilingual capacity, making it a good partner for companies that have a global reach and for firms that are based outside the United States. Adopted from a Kanban model, Trello basically runs like a company bulletin board where you can use and pin virtual 3×5 cards. Tesla benefits from the fact that its electric cars have the greatest range - the Model S, Model 3, and Model X can travel from 565-600 kilometers on a single battery charge, and are the top three ranked … The amount of functions that it has and its ability to … Brian, one of the things that I was surprised at, looking at this business is, based on their revenue total, I did not expect them to be very split out when it came to their customers, I was expecting a business that was going to be pretty reliant on a couple of really big accounts to be pushing their top line forward -- not the case here with Asana. All B2B Directory Rights Reserved. So, these are not all small businesses, they do have some big businesses in there. And one of the first places I would recommend you go is, he wrote a piece in 2015 on Medium, If You Want to Work Hard, Live Well, and it's basically his reflection on tech. From there, Asana tries to convince its customers to upgrade to get more advanced features and add more and more users. Feroldi: It is crazy. Free cash flow last quarter was negative $22 million. Extremely intuitive, Microsoft Project offers great balance of complexity and usability. No wonder, this project management solution is used in different industries including pharmaceuticals, construction, manufacturing, financial services, retail, health care, and government ones. That's why waiting a quarter or two at least before you dive in can make sense. Keep it clean. At any given time, your employees can easily access the uploaded files. So, last year about 3.5% of customers converted from the free model to the paid model, more recently that number jumped to 4.7%. Feroldi: Yep, I 100% agree. Feroldi: Yeah. Returns as of 01/11/2021. Basecamp offers a comprehensible solution across various devices. The tool is mainly used by design teams, healthcare industries, marketing teams, and technology firms. Feroldi: They have plenty of competition. On the disadvantage side, some equally significant issues exist. Feroldi: Yeah. A competitive threat is competition that hasn't occurred but has potential to occur. Lewis: Yeah, I think it's almost reasonable, which [laughs] if you asked me two years ago, I'd be like, "Dylan, what are you talking about?" Lewis: And what that mission statement gives you a hint of is the fact that this is a collaboration and team-based product. Quire has all of the traits listed above, so I’m currently using them, but I’m open to more suggestions! And let's highlight that and sync it up with the strategy for a second, Brian, because this is land-and-expand in action, right? I would even wager, if you just said the name Dustin Moskovitz to the average American, a good chunk of them would actually know who that is. And Airtable is another really big name in this space; we'll talk about some of the competitors down the road. And that actual name suggestion came from Robotro5 on Twitter. You can customize your monday.com dashboard to fit your workflow and other needs. He was a co-founder of Facebook in his late teens, and was a billionaire in his early 20s. Lewis: Yeah. And as we've said over and over again. It's tremendously useful for helping us to manage projects. Feroldi: Yeah, definitely agree with you there. Thanks to Tim Sparks for all his work behind the glass, and thank you for listening, Fool on! Microsoft Project allows companies to handle project portfolio investments, as well as successfully deliver projects with the intended business value. Another Asana competitor is Basecamp. This tool was designed to help you capture, assign, and set priorities to your work. Clearly, there's something to this business. So, trying to provide an easy at-a-glance for all of these different operations and making it really easy for people to just quickly get in touch. I continue to strike out with trying to get you to mess up. There aren't many apps that have this feature! Net loss on a GAAP basis was $41 million; that's a huge delta between the two. JIRA’s cloud-hosted version offers the following benefits: JIRA’s on-premise version offers the following benefits: You can find a more comprehensible look at this software in our detailed review of JIRA. Lewis: Yeah, I'll put it on the watch list. Feroldi: Not at all. If you’d like to learn more about how Asana and Wrike compare against one another you should read our Wrike vs Asana comparison to get more details. It's more just that the picture is only going to improve so much, you know, what we're going to see from this business and profitability is really going to be a reflection of costs changing, not so much the business becoming more profitable. Lewis: Yeah. That allows them to try it out with a small team and see if they like it. Project management software is created to coordinate and streamline activities and efforts within a company. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why You Must Keep Asana on Your Watchlist @themotleyfool #stocks $GE $MSFT $GOOGL $FB $MCK $NYT $NOW $HBIO $TWTR $GOOG $BOX $UBER $TEAM $COUP $OKTA $DBX $SPOT $SMAR $WORK $ASAN, Carnival Corp & plc (CCL) Q4 2020 Earnings Call Transcript, Ford Ending Production in Brazil; Will Book Roughly $4.1 Billion in Restructuring Charges, Bristol Myers Squibb Adds $2 Billion to Share Repurchase Program, Copyright, Trademark and Patent Information. That's not the best we've seen, but in absolute terms, that's really good. And insiders, in general, own two-thirds of this company. Microsoft Project is created by people who have handled real-life projects and realize that some things and activities are always changing regularly. As they were scaling Facebook, one of the challenges that they faced in doing so was trying to coordinate what was happening at the company.