Information governance (IG) is a discipline that is constantly evolving. From increasing regulations to the rapid output of information, businesses are creating more content while trying to comply with stricter rules surrounding data and privacy. As sanctions against those who fail to take proper precautions become more severe, it is imperative that businesses understand the important role that IG plays in relation to long-term growth and success.
An organization that fails to comply with regulations can face:
Business leaders need to understand what an ideal IG program entails, why it is important and how to build your organization’s IG program for the future. Here are some things to keep in mind.
Information Governance Initiative defines information governance as “the activities and technologies that organizations employ to maximize the value of their information while minimizing associated risks and costs.” Simply put, it is the management of an organization’s information.
This includes all physical and electronic data such as employee files, accounts payable records, websites, client data, emails, social media posts and more. IG covers the various policies, procedures, structures and processes that organizations must comply with when creating, managing and sharing information.
With 2.5 quintillion bytes of data created each day and 90% of the world’s information created in the last two years, regularly monitoring and evaluating your organization’s data is essential. Addressing all types of information created by the company will not only protect it from being breached, but will also improve efficiency and productivity.
As regulations in data privacy continually change for IG and eDiscovery, the struggle to stay compliant grows larger. A holistic IG program will help your organization manage massive content growth over multiple repositories, while also complying with increased enforcement of laws and regulations. Waiting for an audit or data breach to occur before taking action can be costly in terms of time, money and information. Focusing on current efforts to build a trust-worthy IG framework will protect your organization from internal or external security risks.
The future of technology is all about accountability and preparing your company for potential security risks, such as natural disasters, loss of data in a merger or acquisition, audits and other litigation. Though many organizations believe adapting to change as it comes is enough, this is not the case with IG.
Follow these steps to future-proof your own IG program.
Building a successful Information Governance program does not happen overnight. It can take time and dedication. At Access, we are not just a records storage provider, rather a partner to help you manage your information and process from the moment a document is created through its entire lifecycle. We are happy to consult with your team about IG best practices.
Jen Farnham is an industry leader in information governance and data compliance with over 13 years of experience in client success account management for some of the largest companies and government agencies in California.