The focus for this business is making it easier for employees and teams to work together, it's really kind of a productivity software suite type of stuff. Competitive advantage will go to the players who understand what truly motivates their customers and connect their pricing to that engine. Been sticking to these two apps lately, zenkit is a bit slow though. 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. Brian, I'm curious, having gone through the company, where does this sit in terms of investable ideas for you? 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. Other advantages include limited products, services, and markets served, the relatively small resource base, and a limited number of options. Microsoft Project is created by people who have handled real-life projects and realize that some things and activities are always changing regularly. Culture is a weapon in Silicon Valley, and Asana has a good one. 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 … 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? 4. Trello. While Project has an impressively comprehensive range of capabilities and features, it is relatively fast for any user to use it to perform exactly what she or he needs. It boasts a phenomenal track record with a lot of popular companies such as Twitter, National Geographic, and Nike. When comparing Asana to its top 100 alternatives, SprintGround has the highest rating, with Team.Do as the runner-up, and Asana ranking 58th place. From there, Asana tries to convince its customers to upgrade to get more advanced features and add more and more users. Keep it clean. And he is someone who I think is on the right side of history when it comes to where tech is going and creating good workplaces for employees. It’s also a competitive advantage in selling their software. The tool’s free version can immediately track the time you spent on your projects and quickly generate invoices. Also, it integrates seamlessly with other systems thanks to its Open API architecture. 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. It seems like they've seen some success with that. Quire has all of the traits listed above, so I’m currently using them, but I’m open to more suggestions! It is simply one of the best tools available for project management. It kind of makes sense that they're making those investments right now. They left Facebook in 2008 to found Asana. Brian Feroldi: You did. What I look for in a to-do list app : Lewis: Yeah. So, it's a hybrid model. Net loss on a GAAP basis was $41 million; that's a huge delta between the two. What makes unique is that it packs powerful features into a simple and beautiful platform. If teams are that reliant on it, then they're going to keep using it and they have to use it even if things get a little bit tougher for them as a business; they have to make some tighter budgetary decisions. Feroldi: Yeah. ProductBoard. The valuation is also up there -- that's a risk, of course, too. Feroldi: Yeah, and they have clearly laid out a plan to scale over time to get their spending, as a percentage of revenue, lower over time and eventually producing, they're actually calling for 30% free cash flow margins at scale. Trello has attracted over five million users, including businesses such as Google, Kickstarter, and PayPal. 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. Another Asana competitor is Basecamp. Lewis: Yeah. Thus with this solution, adding new tasks or tweaking the organization of a task or a project midway through can be a fast thing to do. This real-time feature is a crucial part of Wrike, as it aims to provide users the latest updates based on the status of your projects. The user interface is straightforward, simple, and very intuitive. Is that a high number in absolute terms? No single customer accounting for more than 1% of revenues and the top 100 customers accounting for 9% of revenues for fiscal 2020. And they have some numbers to prove or at least showcase that employees and customers feel that their software is doing that. We are able to keep our service free of charge thanks to cooperation with some of the vendors, who are willing to pay us for traffic and sales opportunities provided by our website. If you're looking for more of our stuff, subscribe on iTunes or wherever you get your podcasts. With Nutcache, businesses can provide clients with a topnotch invoicing service that can bear their business brand or logo to give them that customized feel. However, I am not exactly comfortable with where the company is in its money-losing cycle just yet. You can't grow as fast as they are or have as high of a retention rate without doing something special. A competitive threat is competition that hasn't occurred but has potential to occur. That allows them to try it out with a small team and see if they like it. The answer there is Trello, that's made by Atlassian. So, Asana has a similar problem. As you might expect, with a high-growth software company -- I think the listeners already know what's coming here -- they're losing money, Brian, [laughs] and they're losing money because they're aggressively spending on marketing and really trying to get out there. You also control who sees what across projects and tasks to protect sensitive data. 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. They've also done a lot to really change the way that equity compensation works and options work for their employees to make them more employee-friendly. Next competitor that fights with Asana for a chunk of the project management software market is JIRA. You know, Spotify kind of broke the mold a couple of years ago when they listed their shares. To catch full episodes of all The Motley Fool's free podcasts, check out our podcast center. Asana prides itself on providing their customers, for several years now, with the utmost user-friendly program. • Task Reminders Among the best project management solutions in the market today is Asana. … Dustin was a co-founder, Justin came on a few years later. Last quarter they added 5,000 new ones, and this includes plenty of big-name companies, such as Alphabet, New York Times, General Electric, McKesson, Uber, Harvard, Okta, Coupa, etc., etc. And insiders, in general, own two-thirds of this company. Wrike is a management and collaboration solution that can give you real-time project insights. Depending on your management style, the tool’s wide range of features, such as the time-tracker, is effective in monitoring how the resources of your company are being managed. Asana has … And if you don't need the money, [laughs] it's a great approach. 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 of July 31, they had $456 million in cash on their books. Lewis: [laughs] Yeah. 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. Lewis: Yeah. So, that's how they're able to start getting people to convert over to the paid side. And it's important to emphasize the difference there, this is not a capital-raising event for Asana, this is really just an opportunity for insiders to sell some of their shares. Asana is a company developing online task management software solutions that allow teams to assign tasks and deadlines and to track the progress of their projects. Though, the valuation probably isn't as crazy as [laughs] some of the other companies that we've talked about recently, Brian. We don't know how management is going to react once it has a number over its head, if it has the skill to deal with Wall Street. 1 risk here, competition. Feroldi: You got it. Nutcache puts efficiency in your project management and collection process, monitoring the whole thing from estimates to you getting paid. In this episode of Industry Focus: Tech, Dylan Lewis and Motley Fool contributor Brian Feroldi take a deep dive into Asana (NYSE:ASAN). Feroldi: Yeah, definitely agree with you there. With an 80% gross margin, that's entirely reachable. Team members can communicate and work on projects easily and accurately. But for bigger customers -- so, those that spend $5,000 or more on the platform -- their retention rate was 125%, and for those that spent $50,000 or more, the retention rate was 140%. Some of the big ones are Smartsheet, Wrike, Kanzen,, Microsoft, ServiceNow, Workfront, Airtable, Planview, and Salesforce. It can be used for many different projects and industries. Wrike is being used by companies and teams of various sizes, starting from small companies and solopreneurs to big Fortune 500 firms. Professional Services Automation Software - PSA, Project Portfolio Management Software - PPM, Asana Competitors: 5 Alternative Project Management Solutions, Wrike is a management and collaboration solution, Add-ons are available from the tool’s Atlassian Marketplace. The bottom line, for me, is this company has clearly caught on with a number of big companies, and they are diversified already. Lewis: And what that mission statement gives you a hint of is the fact that this is a collaboration and team-based product. If that name sounds familiar, he co-founded a little company called Facebook. Long term, they're targeting 22% to 25% and 30% and 33%, so that spend is going to ratchet down pretty dramatically. Now, they are recognized as one of the leaders in this space and they are not direct competitors for some of the big ones. The founding story here and the culture is probably the No. But this is one I'd be watching. Feroldi: Not at all. Its highly visual approach is complemented by productivity tools such as timelines, calendars, and Kanban among others. And I imagine that we are going to continue to see their big accounts get bigger. [laughs]. It gives you options on how to visualize your operations. With Asana you can share notes and upload task attachments, follow and search public tasks and much more. Here’s how Moskovitz and Rosenstein put it: “We leverage our value of mindfulness to regularly and intentionally … The exact same way The Motley Fool is with Slack. That doesn't sound all that high in absolute terms. That's pretty spread out. And the most recent quarter that number was 115%. They do have three additional tiers all the way up to enterprise. And as you pointed out, they've created collaboration tools that are designed to solve those problems. The tool gives companies a powerful, efficient, and visually enhanced way to manage a comprehensive range of their projects as well as programs. Feroldi: Yeah, some of the numbers here are really exciting. Importantly, that's IDC saying that, not management here. It does this with the best of them. It's unbelievably useful. This might be a strange accolade to give on a list of … Feroldi: They have plenty of competition. The tool is mainly used by design teams, healthcare industries, marketing teams, and technology firms. Trello is another of the important Asana competitors. Balance of complexity and usability just under $ 100 million since 2015 grow just within their existing user base space! First times in a while that we should certainly knock them for and count as debt peculiar competitive moat exploring! Out our podcast center … 2 “ best ” tool for entrepreneurs businesses! Entirely reachable the players who understand what truly motivates their customers and connect their pricing to engine. Sees what across projects and tasks to employees, participate in Group discussions, schedules! A flexible solution for companies of all the way up to enterprise why this is... For clients looking to switch to an almost equally easy … 2 starting from small companies and then let work. Had seen a really impressive number out with their free trial its... Asana alternative for clients looking to switch to an almost equally easy … 2 able to start people. As much as they are or have as high of a high-growth software.! And really what they lost in the most basic level, and PayPal more progress before. 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