several barriers of business issuers

1. Breaking business barriers
Common barriers to entry include special tax benefits to existing
firms, patent protections, strong brand identity, customer loyalty,
and high customer switching costs. Other barriers include the need
for new companies to obtain licenses or regulatory clearance before
operation.
Historically, there have been significant barriers to being a technology
innovation company. But companies who want to survive must
embrace the importance of technology innovation and find ways
around these traditional barriers.
The good news is that the barriers are easier to overcome now than
they were even a few years ago

2. INFRASTRUCTURE
Few Years ago, if you wanted to start a technology company,
you needed to have a server farm, high-speed internet, proper
cooling, backup strategies, and significant staff resources.
It took a lot of money and expertise to start a tech company,
and it didn’t always pan out.
Now most of that infrastructure exists in the cloud just waiting
for you to leverage it.

3. INVESTMENT
As recent as the early 2000s, it took millions to start a
technology company.
Amazon was one of the cheapest technology startups in
history, and they had $5M in angel investing and another $8M
from venture capitalists. And that was cheap.
Other companies started with $100M in funding.
Yes, there’s still an investment required for starting any
company, but the cost of entry can be much lower now.

4. TIME
There are lots of companies and people in the
technology innovation space, so you don’t have a lot of
time to compete.
If you have an idea for a product or service, chances are
someone else already had that same idea.
But we all have the same number of hours in the day,
so the question is simply whether you’re willing to put
the time and effort in right now at this very moment.

5. TEAM
Any company, whether startup or established, needs people.
Software developers, information systems specialists, and big
data scientists are incredibly valuable.
We have seen many business estimates that the best
developers are worth 10 to 20 times what a good developer is
worth.
The best talent is hard to get, hard to keep, and you have to
pay them a lot to stick around, because they’re always
thinking about new ideas.
The advantage now is that you can outsource the talent you
need to innovate, rather than always hiring it directly.

6. BREAKING THE BARRIERS
The challenge with each of these barriers is to turn it around
and start seeing the opportunities rather than the barriers.
You can leverage your existing capabilities to overcome any of
them. There are companies in Silicon Valley that are willing to
throw lots of money at solving a problem, and yet they don’t
have anywhere near the experience that you and your team
probably have.
They also don’t have your existing customer base, and your
customers are a significant investment opportunity.
They possess a wealth of information, and you can leverage
that as you begin shifting to technology innovation.

7. • Have a product idea?
• Create as minimum viable a product as you possibly can
and then put it in front of your customers for a beta test.
• Gather their feedback, change the product accordingly, and
give them another beta version.
• Agile development is a critical component of technology
innovation.
• You’re not trying to create the perfect product on your first
pass.
• Be willing to start with something really basic, get quick
feedback, and adjust as needed.

8. • Follow, Strategic alliance, perfect. You have an idea, so
pursue it. Pivot that idea as needed based on your
experience and the feedback from your customers.
• Perfect that idea and get it to market.
• You also have to be willing to fail, and fail fast. And
then move on from that failure to create something
better.
• Eventually, you end up with a successful product that
your customers are excited to buy.

9. 5 tips for breaking down the barriers in your
business
• Communicate a vision and common objectives. ...
• Encourage collaboration between teams. ...
• Create multi-skilled teams. ...
• Use collaborative tools. ...
• Resort to training.

10. business process engineering - introduction
• A business process is a series of steps performed by a group of
stakeholders to achieve a concrete goal.
• Each step in a business process denotes a task that is assigned to a
participant. It is the fundamental building block for several related
ideas such as business process management, process automation,
etc.
importance of business processes
• The need for and advantages of a business process are quite apparent
in large organizations. A process forms the lifeline for any business
and helps it streamline individual activities, making sure that
resources are put to optimal use.

12. Key reasons to have well-defined business processes
• Identify what tasks are important to your larger business
goals
• Improve efficiency
• Streamline communication between people / functions
/departments
• Set approvals to ensure accountability and optimum use of
resources
• Prevent confusion from creeping into your day-to-day
operations
• Standardize a set of procedures to complete tasks that really
matter to your business

13. Business process re-engineering(BPR)
• Business process re-engineering(BPR) is the radical redesign
of business processes to achieve dramatic improvements in critical
aspects like quality, output, cost, service, and speed. Business process
reengineering (BPR) aims at cutting down enterprise costs and
process redundancies on a very huge scale.
• In Business Process Reengineering, companies start with a blank
sheet of paper and rethink existing processes to deliver more value to
the customer.
To keep business process reengineering fair, transparent, and efficient,
stakeholders need to get a better understanding of the key steps
involved in it.
Although the process can differ from one organization to another, these
steps listed below succinctly summarize the process:

14. Core questions
Before you decide to adopt BPR for functional reshuffling, ask yourself the
following questions:
• Who are our customers? What values are we offering them?
• Are the current processes delivering expected values?
• Do the processes need to be redefined or redesigned?
• Are the processes in sync with our long-term mission and goals?
• How would we handle the existing processes if we were a new company?
If a company concludes that it is, in fact, operating on complacent grounds, it
has to identify the right kind of solution to address the problem or consider
BPR for a total overhaul.
Done well, BPR’s radical approach yields dramatic results for a company in
terms of improved cycle times, product quality, productivity, and so on.

15. Five steps of business process reengineering (BPR)
1. Map the current state of your business processes
Gather data from all resources–both software tools and stakeholders.
Understand how the process is performing currently.
2. Analyze them and find any process gaps or disconnects
Identify all the errors and delays that hold up a free flow of the process.
Make sure if all details are available in the respective steps for the
stakeholders to make quick decisions.
3. Look for improvement opportunities and validate them
Check if all the steps are absolutely necessary. If a step is there to solely
inform the person, remove the step, and add an automated email
trigger.

16. 4. Design a cutting-edge future-state process map
Create a new process that solves all the problems you
have identified. Don’t be afraid to design a totally new
process that is sure to work well. Designate KPIs for
every step of the process.
5. Implement future state changes and be mindful of
dependencies
Inform every stakeholder of the new process. Only
proceed after everyone is on board and educated
about how the new process works. Constantly monitor
the KPIs.

17. Good BPM reduces the need for BPR
• The productivity of employees definitely takes a hit during process
reengineering. Changes are difficult to manage and it saves a lot of
costs on analysis, reengineering, and documentation. If processes are
managed better during runtime, the need for reengineering is greatly
reduced.
• Kissflow Process is a BPM tool to manage business processes with full
control. It is built as an intuitive logic-based tool that anyone can
learn and understand. You get a lot more visibility into processes and
their functions. Take a free trial and see how easy it is to manage your
processes

18. Principles of BPR
• Step 1: Define your goals
• Step 2: Plan and map your process. What are the strategies needed to
achieve the goals? ...
• Step 3: Set actions and assign stakeholders. ...
• Step 4: Test the process. ...
• Step 5: Implement the process. ...
• Step 6: Monitor the results. ...
• Step 7: Repeat.

19. An example of a business process
As an example, let’s consider the hiring process of an HR
department. Right from posting the job opening to onboarding the
employee, there are multiple steps involved in the process.
Although this can vary from organization to organization, a
simple workflow might look like this:
• The HR executive posts the job update
• Multiple candidates apply in a portal
• The HR executive screens the candidates and filters the best-fits
• The selected candidates are called for the next stages of the
recruitment
• The right candidate is chosen at the last stage of the recruitment
• Salary and policy negotiations take place
• The offer letter is sent and the candidate accepts
• This is then followed by a long employee onboarding process.

20. Business Process Modeling
• BPM is a systematic approach to make an organization’s processes more
efficient and dynamic in order to meet the changing needs of
business. Continuous improvement is one of the core underlying
philosophies of BPM and it aims to put it at the centre of all BPM
initiatives. BPM is an ongoing approach to continuously make execution of
business processes better. Several cloud and on premise software solutions
are available to implement BPM.
• Business process modeling is a diagrammatic/structural representation of
flow of business activities in an organization or function within an
organization. Its primary use is to document and baseline the current flow
of activities in order to identify improvements and enhancements for
speedy accomplishment of tasks. Usually, they follow a standard such
as Business Process Modeling Notation (BPMN), which is a globally
accepted standard that most process professionals easily identify with.
However, process modeling software like Kissflow enables even a business
user to model a process based on business steps, without having to know
any modeling notation.

21. Benefits of using business process software
BPM solutions are uniquely designed to boost the efficiency of processes
across verticals and organizations. Implementing them brings a host of
business benefits such as:
Reduction of risks
BPM software helps prevent and fix errors and bottlenecks thereby
minimizing risks.
Elimination of redundancies
Monitoring processes allows for identification and elimination of duplicated
tasks. Implementing BPM software also enhances resource allocation to
ensure human effort is invested only in relevant tasks.
Minimized costs
Improved visibility into processes helps zero in on wasteful expenditure. This
way costs are kept to a minimum and savings are boosted.

22. • Improved collaboration
Transparency fostered by BPM software boosts collaboration between internal teams as
well as external vendors and buyers. Everyone is aware of responsibilities as well as
timelines and bottlenecks.
• Agility
Optimized processes enable greater agility in organizational operations. Minimized errors,
bottlenecks, and duplication facilitate quicker turnaround times.
• Improved productivity
When processes are shipshape, approvals are faster and information retrieval is easier.
Tasks are routed sequentially without human intervention. These benefits significantly
boost productivity of teams.
• Higher efficiency
Comprehensive dashboards in BPM software provide bird’s-eye view of process
performance. It helps managers ensure that turnaround times are short and accuracy
levels are high.
• Higher compliance
With BPM software, it’s easier and more methodical to create audit trails and comply with
industry regulations and standards.

23. What are the essential attributes of an ideal business process?
There are 4 essential attributes that constitute an ideal business process:
1. Finite
A good business process has a well-defined starting point and ending point. It
also has a finite number of steps.
2. Repeatable
A good business process can be run an indefinite number of times.
3. Creates value
It ultimately aims at translating the creation of value into executable tasks and
does not have any step in the process just for the sake of it. In other words, if
any step in the process isn’t adding value, it should not exist.
4. Flexibility
It has an in-built nature to be flexible to change and is not rigid. When there is
any scope for improvement that is identified, the process allows that change to
be absorbed within itself without operationally affecting its stakeholders as
much.

24. Time to create your business processes
• Well-designed business processes set up your teams on the path to
success. Everyone is clear on their roles and responsibilities and work
with a clear vision towards the end goal.
• The situations when companies hired expensive consultants for
designing business processes are fading away. You don’t want another
person to create a business process for you when you are the expert
that knows the in and out of your business.
• Did you know you can create a business process in 15 minutes
with Kissflow Process? The no-code platform keeps it simple while
letting you design sophisticated business processes. Try it out and see
how easy it is.