Onethread, A Pioneer of Project Management SaaS Solution for Bangladesh Local Market
6 min read
One of the fastest-growing economies globally over the past decade, Bangladesh is supported by a demographic dividend, ready-made solid garment (RMG) exports, and stable macroeconomic conditions. This country has encountered many struggling moments in the local market sector but has also survived and risen from the ashes. It is estimated that by 2041, Bangladesh will be a developed country thanks to the expansion of local markets, especially e-commerce and garment factories.
It’s no doubt Bangladesh is doing incredible in the regional market earning sector in terms of other countries, but it lacks drastically in one primary sector, the Project management System. Here, completing a project is so old that stakeholders and managing authorities sometimes struggle to complete their tasks and projects on time. Many local companies in Bangladesh work hard but don't follow any specific strategies while working on projects. People connected to the projects sometimes get confused about their role, what activities or tasks they will perform, how much time they took to complete one job, and who they will report to after completing the task. In addition, stakeholders of these companies also face many problems in completing projects that affect their reputation in the international market. Aftermath; many lose valuable clients. This is where Onethread and its SaaS product comes in.
Onethread, being the pioneer company in SaaS products for serving the regional market, aims to provide a stable, effective, cheap yet powerful project management SaaS application alternative to international developments such as Slack, ClickUp, Trello, and Asana, Jira, etc. Onethread is currently the only company in Bangladesh to build a SaaS product that is affordable and reasonable for SMEs and Startups.
Before we dive into the world of Onethread, let’s have a sneak peek of information about the company.
Company Name: Onethread
Founding Year: 2021
Founders: Rashik Hoque
Vertical: SaaS, Work, Productivity
Location: Dhaka, Bangladesh
The background story of Onethread is quite interesting. The development of Onethread was over three years of the long part-time work process, which saw the day of light for the first time back in July 2021. During this time, Onethread was launched as a BETA version in Product Hunt (a site to launch new products worldwide) to reach through founders’ socials. Luckily, Onethread was able to impress some early adopters to get feedback on the product with minimal revenue. But within a month of launch, Onethread got its first hit in the technical department, which led them to understand that they would need a complete overhaul of the software to survive in the uprising SaaS society.
The following procedures were so crucial and hectic that three months had already passed when they came up with an entirely new design. But this time, Onethread was ready to face the whole world with its fresh, clean, and compact UI. Of course, unlike every new software, it was full of lots of bugs, but their previous experience prepared them to face the challenge, which is a pretty good win for them in current days.
Here are some users' reviews,
Pioneer of SaaS Project Management tool in Bangladesh:
As mentioned earlier, most of the local market of Bangladesh still uses ancient project management systems to complete projects. Most of them rely on the old traditional techniques as the majority find the new upgraded agile methods a bit complex and time-consuming to get used to. There are another two main reasons to use the old management system. One is they are already localized. Only a little supervision or guidance is required to learn them. Since these Project Management tools are old enough, most have been modified and tailored according to the locals. So, all you need to do is practice for some days to get familiarised, and you are good to go.
And the second reason is new project management tools are costly to buy in Bangladesh. Most local market companies look for cheap but valuable free software versions. After the end of the free version, they move to another one, and in the process, they end up using 2-3 platforms simultaneously, which makes completing tasks more complicated than usual.
Nowadays, Agile Project Management has become popular and prescribed by many international companies to increase team efficiency and development productivity. Structure-wise, this is a more compact and resource-saving project management system than a traditional waterfall system. Many companies in the international market provide software as a service (SaaS) to collaborate on a project with the persons involved through a single platform. They work in real-time and are accessible from anywhere. These products are SaaS products. (My previous link) You may have already heard some current popular SaaS product names such as Slack, ClickUp, Asana, Trello, Jira, etc. They are pretty handy and have lots of cool features, but they are very pricy for Bangladesh compared to other countries.
Though top companies in Bangladesh have already started using these SaaS products, the middle and lower companies find them more expensive to buy or use regularly. Onethread thinks highly of them and has developed a practical solution, a SaaS product of their own. Onethread is the only SaaS product in Bangladesh currently working for the local market. Its primary focus is on the traditional local companies rather than the high techy, high growth companies. Its SaaS software has all the basic but essential functions to manage projects through a single online platform. It allows the local companies to complete their tasks with more than 90% accuracy!
It has a clean, user-friendly UI. It's compact, scalable, fixable, and customizable. Teammates can work on the same project or tasks simultaneously across multiple devices in real-time. And, it was cheap too. Seriously! Just look at the price comparison with the other companies:
Unlike the other applications, Onethread emphasizes localization by making the project management tool available in the local language. It may seem to be a simple thing, but it plays a significant role for the local companies in the long run. Many middle or lower local companies hire less educated people for budget cuts. When your project management app is in the local language, it is easy to understand quickly and navigate effectively.
Onethread has a lot of potentials to be a role model in the SaaS products industry in Bangladesh. They are working on a project never touched on before in the country. But better late than never, right?. It is the only company in Bangladesh to work on the SaaS platform, making a cheap, reliable, stable, and localized application for all the Business Companies, SMEs, Startups, etc.
They are working hard to be recognized as a cheap alternative solution to those expensive softwares. Keep in my that it is already charging 50% less than those internationally recognized software while providing almost the same fundamental SaaS product service. With the right amount of effort, like giving communication features with teammates like Slack, organizing, tracking, managing, and collaborating on projects like Asana, ClickUp, or Trello, they can monopolize the local market of Bangladesh.