I’m quite familiar with 37Signlas Basecamp. It’s a solid tool used by thousands of professionals. I think even John Jantsch of Duct Tape Marketing uses this tool.
I was just looking at Bantam (now in beta) and from what I’ve seen (including the video) it looks VERY, VERY good and what an updated version of Basecamp should be like: the features and the interface.
One of the big pluses of Bantam are the integrated features with external social media tools, in addition to powerful internal communication capabilities.
Overall this is not a discussion of which particular tool is better – Basecamp or Bantam, but what I do want to bring your attention to is that while you might be using a “hosted application”, that’s matured and been around for some time, there are new services, from startups that have learned from these gray haired leaders and are adding more features, better interfaces and maybe even better pricing.
What does this mean to you?
As you buy technology for your business, make sure the technology can GROW with you. Also be on the look out for technology that might be better suited for your business now, than what stage your business was in a few years (or months ago).
Appoint someone in your staff, if not yourself, to test and try out new technology so that you are always aware what new technologies you might want to consider using for your own business.