7 Reasons to Implement Information Governance
Every department in your organization creates information, collects it, stores it, and sometimes needs to access it, often under tight deadlines.
Effective use of your information is a key differentiator.
1- Too much information kills information
Each department of the company creates data or documents that are specific to them. Human Resources, Accounting, Administration, IT, and R&D, all are subject to regulations, which are sometimes specific to them, and have different needs both for accessing information and for storing it.
With the explosion of data and document volumes, adopting a clear strategic approach becomes a necessity.
It is therefore important to define appropriate information governance policy-oriented “flow” and apprehend this future flows according to their nature (data, documents), medium (electronic, paper), value (binding, confidential, patrimonial,…).
2- Not all information is useful
Not all of your information is good to keep. Some are essential and others not, some must be deleted (for example: the right to be forgotten, etc.).
It is therefore important to sort and qualify the elements that must be kept:
What should I keep to be compliant?
What can or should be removed?
3- Take information into account wherever it is Given the different networks, different applications, and different formats, centralized control is necessary and requires relying on a wide variety of ready-to-use connectors.
It is important to take into account:
Information stored in various company solutions,
Sensitive information stored in old systems,
The multiplicity of types of data and/or documents.
4- Finding the right information, on time, is the key
The information to be found may come from several distinct applications, be drowned in a large flow of information, or be poorly described or qualified. In such a context, how can we easily find the information we need? Most of the time, people don’t succeed, or at least not immediately, unless we manage to:
Have a centralized access point to search for information,
Qualify information as soon as possible, to control its life cycle and facilitate access to it in research,
Keep only useful information and allow access only to authorized information, to reduce research time, and easily take advantage of the information.
5- Securing information according to its value
The data and documents you manage have a value that changes over time. It is necessary to understand this concept to take into account the constraints of access, integrity, and availability of information over time. This aspect is manageable by dedicated technologies (cryptographic, security, etc.) driven by a clear information governance plan.
Therefore It is imperative:
Make information accessible to the right people at the right time,
To control access to and use of information,
Protect data and documents from malicious intent.
6- Do not break the law
Legal actions are costly and damaging and their impacts are rarely anticipated. However, it is possible and sometimes easy to align the application in place with the regulatory and normative obligations imposed on your company.
Better governance of your information will allow you to:
Respond quickly to requests in the event of an audit,
Easily apply the rules in the event of hold for legal purposes,
Prove the accuracy and integrity of data and documents.
7- Increase agility
Information is both a risk factor and a competitive advantage. Things are changing rapidly and constantly and what is valid today will probably not be tomorrow.
You must be able to rely on your information to make the right decisions when faced with a dispute or an opportunity. In such a context, information must be updated and weighted according to its value and its use. Information governance practices are exactly in line with this orientation and will allow you to react quickly to changes in the market and to differentiate yourself thanks to your data and documents.
Information Governance: From Reactive to Proactive Information Management
Learn to understand the value of your information, so you can naturally rely on it to:
Make decisions and anticipate by having access to crucial information in time,
Have the methodology and tools available when auditing or suspending for legal purposes
Comply with national, European, and international regulatory obligations
Be proactive: Actively manage information using predefined policies and procedures to:
Improve employee productivity
To limit the risks
To be more agile
Now is the time to take an active stance on all your information, and implement information governance strategies. Ready to start?