The Value of Information Governance: Finding the ROI

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Risk mitigation

Risk reduction is driven by laws and regulations as well as litigation, audit requests and related factors. Just as data growth is increasing, the rate at which new regulations are enacted to deal with this data is increasing, while the ability to enforce and understand these policies is decreasing. Additional laws are passed in the U.S. almost annually to regulate data – this trend is true globally, as well. Organizations must address everything from retention to access controls to privacy of health and financial information within policies and procedures or face potential risk for failing to comply with regulatory requirements.

Information governance is the set of multi-disciplinary structures, policies, processes and controls implemented to manage information. Gartner states that "the goal of information governance is to ensure compliance with laws and regulations, mitigate risks and protect the confidentiality of sensitive company and customer data." More than another word for "records management," information governance aims to support an organization's regulatory, legal, risk, environmental and operational requirements.

A successful information governance initiative requires a cross-functional team effort, usually consisting of records, IT and legal, often with executive sponsorship. The elevation of records to include IT and legal also brings into play more budgetary options. Information governance will normally be a function of the IT budget rather than records, which opens up many more possibilities.

Many organizations agree that lack of active governance is a big problem, but few have a viable solution. In particular, it can be difficult to get buy-in and obtain funding for a non-revenue-generating initiative. However, information governance is a necessary process for any business that is required to keep both physical and digital records.

Fortunately, according to Michael Shufeldt, global director, digital market leader at Recall, there are reasons so compelling it would be difficult to ignore information governance when the effects are well understood. In this slideshow, he discusses how a proper information governance initiative can deliver a measurable and rapid ROI (return on investment) on key business case factors.

 

Related Topics : A Big Market for Big Data Jobs, Midmarket CIO, IT Management Automation, SharePoint, Technology Markets

 
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