1 risk here, competition. Learn about the best Asana alternatives for your Project Management software needs. It can be used for many different projects and industries. To get started investing, check out our quick-start guide to investing in stocks. Feroldi: Yeah. It does this with the best of them. EU Office: Grojecka 70/13 Warsaw, 02-359 Poland, US Office: 120 St James Ave Floor 6, Boston, MA 02116. That doesn't sound all that high in absolute terms. 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. 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. 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. One of my questions is, well, how big is the potential market here? How useful is it if everybody is using it? Lewis: Yeah. With Asana you can create projects and tasks, your employees can be added to tasks and projects, share projects, or be includes in the comments, making sure that everyone on your team is in the loop. So, it's likely to be some time before they can switch over to generating cash. In theory, that gives them a tremendous runway to grow even if they don't add on any more companies, in general. And if you get people to start seeing the value prop, the freemium model totally makes sense. However, technology isn’t the only way to get competitive advantage … Wrike is also a contender to Asana. Lewis: That's the kind of closing commentary you'd expect from the salty super superstar sultan of stratospheric SaaS stocks. Be nice. From there, Asana tries to convince its customers to upgrade to get more advanced features and add more and more users. 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. So, they have over 100 direct integrations, they just landed Microsoft Teams, for example, but they have plenty of other useful products. And I always love opportunities to get the listeners involved in the show, for folks that don't follow Brian on Twitter already, @BrianFeroldi, hit him up there; we are @MFIndustryFocus on Twitter. Other important features include checklists, card aging, the capacity to copy cards or boards, customizable permissions, producing templates for projects or tasks, markdown formatting, interface customization, and unlimited file attachments. In addition, the collaboration module in monday.com is maybe its highlight. Lewis: Yeah. Culture is a weapon in Silicon Valley, and Asana has a good one. 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. Investors have noticed Asana's success as well. High, not outrageous, in my opinion. What’s more, it offers a free trial to its customers, so you can easily try Wrike for free here. They actually think there's enormous room for them to grow just within their existing user base. Dustin was a co-founder, Justin came on a few years later. How Asana helps teams get more work done. And it's nice that it's flying under the radar, Brian, because it means that that valuation is [laughs] only $4 billion or $5 billion, that leaves a lot of room for this company to multiply over time. They also talk about the management and work culture of the company, its financials, its land-and-expand strategy, its growth potential and competitive position, and much more. You know, Spotify kind of broke the mold a couple of years ago when they listed their shares. Not 99%, 100%. Like, you get used by a team at a company, and then all of a sudden, other teams start realizing that this is a really valuable product. Lewis: Usually when we do our breakdowns, Brian, I tend to be swayed by the financials. It's completely useless. What makes monday.com unique is that it packs powerful features into a simple and beautiful platform. You can customize your monday.com dashboard to fit your workflow and other needs. It gives you options on how to visualize your operations. Don’t know if you have ever tried the app before, but I hope you can tell me your reviews on it if you had. Feroldi: You got it. And we just continue to see direct listings, Brian. Many organizations are using monday.com for their vital operations. Feroldi: Yeah, and they're losing money at an impressive rate, unfortunately. I think this business, looking at the financials, has all the marks of a high-growth software company. A simple link that you can share with others. Companies have been using technology as a competitive weapon for centuries. And I think it's something that I'm probably giving a little bit more weight to because of management's pedigree and how beloved the management team is. I mentioned before that it's a crowded space. shoot us an email at IndustryFocus@Fool.com or tweet us @MFIndustryFocus. Stephanie Seymour is a senior business analyst and one of the crucial members of the FinancesOnline research team. It is used in marketing, media management, real estate, education, you name it. Feroldi: You can't fake numbers like that. No one wants to be working in a clunky and messy system. 2. At one point, he was the youngest self-made billionaire in the world. And the good news here is there is a tremendous amount of room for this company to continue to grow. Feroldi: Yeah, and a McKinsey study provided this company with numbers to back up what they're saying. In the case of Asana, I think that the management and the company culture is actually probably one of the strongest points in this being a watch list worthy stock for me. It's going to be losing money, I think, for the short-term foreseeable future, but the hope is that they're able to ratchet down some of that spend and make some significant money on the bottom line once they do so. Asana is a reasonable solution for companies of all shapes and sizes that need crucial teamwork. I'd like to see, in the case of most recent debuts, I'd like to see a couple of quarters, I'd like to see how the growth numbers hold up, I'd like to see if they have to continue to spend so much to bring people in even with that freemium model. Lewis: [laughs] One of my favorite recurring bits. That was double what they lost in the year-ago period. • Task Reminders The tool is a flexible solution for your project portfolio management needs and daily operations, delivered through Office 365. One of the things I saw in their registration statement was that their employee retention rate in their engineering department was over 90%. You can find more information about why this software is so awesome in our detailed review of Wrike. Lewis: That's a good base to build off of. ... Asana started trading just a bit after noon … I saw an interview with him where it's like, you know, they're targeting, like, 6 p.m. or 6:30 p.m. for those dinners. Here’s how Microsoft Project interface looks like. The tool is mainly used by design teams, healthcare industries, marketing teams, and technology firms. And you did a great job, as always. If you want to learn more about the app and how it fares in comparison to its competitors you may want to read our Wrike vs Asana analysis. In her software reviews, she always focuses on the aspects that let users share analytics and enhance findings with context. And the most recent quarter that number was 115%. That's pretty spread out. 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. The odds are good with companies like this that that will actually convert into equity down the road, but the numbers, the losses aren't great to see, but they clearly have plenty of liquidity to fund it. He was a co-founder of Facebook in his late teens, and was a billionaire in his early 20s. Lewis: Competition. • Free or low priced And really, just it proves the value. Competitive advantage grows fundamentally out of value a firm is able to create for its buyers that exceeds the firm's cost of creating it. Some of the big ones are Smartsheet, Wrike, Kanzen, Monday.com, Microsoft, ServiceNow, Workfront, Airtable, Planview, and Salesforce. I'm going to try monday.com next because they seem to have a agile Gantt Chart. Compared with Asana, the tool is more visual-oriented as Trello’s projects and tasks are pinned on cards. I would want to see them make a little bit more progress there before I would dive in. Among the best project management solutions in the market today is Asana. Lewis: And to be fair, Brian, that's a petty knock on my part [laughs] about the gross margins. 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. 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. And I think the biggest one, and maybe listeners are anticipating this one already is, this is a crowded space. They do have $330 million in convertible notes that we should certainly knock them for and count as debt. It kind of makes sense that they're making those investments right now. Its highly visual approach is complemented by productivity tools such as timelines, calendars, and Kanban among others. Though, the valuation probably isn't as crazy as [laughs] some of the other companies that we've talked about recently, Brian. They get into Asana's founding story and how the company is helping teams work more effectively together. You pointed out that we, at The Fool, use Trello. Is that a high number in absolute terms? The exact same way The Motley Fool is with Slack. Net loss on a GAAP basis was $41 million; that's a huge delta between the two. Feroldi: And this is a founding story that we've heard over and over again. I continue to strike out with trying to get you to mess up. Market data powered by FactSet and Web Financial Group. They make it super-upfront that they are on a mission. And that actual name suggestion came from Robotro5 on Twitter. 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. [laughs] 100% CEO approval rating. Feroldi: Yeah, some of the numbers here are really exciting. Stay on topic. And insiders, in general, own two-thirds of this company. Likewise, the solution … Haven’t seen many of the ones you recommended before, but I’ll be sure to give them a try. JIRA has a simple and intuitive interface that enables better collaboration with your teammates and allows you to effectively get the job done. It's still losing quite a bit of money compared to its revenue opportunity. Benefit: Drawing from a culturally diverse talent pool allows an organization to attract and retain the best talent. 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. And then, anybody that wants to see what's happening with my project can just click on that. And I think that that becomes an employee-retention tool at a certain point. Well, according to IDC, they believe that the market for this kind of software is currently worth $23 billion. Like you, I'm going to be watching their first couple of quarters with excitement. I can see them being extremely reluctant to switch off or turn it off or switch over to something else. Brian is @BrianFeroldi, I am @WilyLewis. 1 thing that sticks out to me for its awesomeness. Lewis: Yeah. The other hand, can give companies a quick visual update of their active said... Monday.Com for their vital operations set priorities to your work across projects and industries gone through the is! Tools available for project management and it 's even harder to rip the software out devices can and... Level, and was a co-founder of Facebook in his early 20s an employee-retention tool a. 70/13 Warsaw, 02-359 Poland, us Office: 120 St James Ave floor 6, Boston MA. 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