Information grows exponentially each year and 2016 will be no different for the information management industry. With information now in multiple formats, it is becoming exceedingly challenging to effectively manage it all. The influx of data has made it easier for companies to fall victim to compliance violations, data loss or security breaches because they […]
Information grows exponentially each year and 2016 will be no different for the information management industry. With information now in multiple formats, it is becoming exceedingly challenging to effectively manage it all. The influx of data has made it easier for companies to fall victim to compliance violations, data loss or security breaches because they neglected to establish proper information governance.
Information governance (IG) is the set of processes and policies implemented to manage information and meet regulatory and legal requirements. In previous years, the conversation centered on why IG is essential. Those conversations have established a groundwork for getting the right solutions in place for 2016. However, governing information is not as easy as flipping a switch when the industry continues to change and evolve.
As evidenced in 2015, technology has presented itself as a double-edged sword for information. While cloud-based technology makes information more easily available for business users, it also creates more risk by increasing the chance for a data breach. IG is meant to help mitigate this risk, but the industry is not going to pause while a company puts its strategy in place. In this slideshow, Phyllis Elin, director of information governance for Recall, has identified five trends businesses should expect from information management in 2016.
Phyllis Elin, Recall’s Director of Information Governance, is a Certified Records Manager (CRM) whom has been in the field of Records and Information Management for over twenty five years.
Click through for five trends businesses should expect from information management in 2016, as identified by Phyllis Elin, director of information governance for Recall.
IT and records management will become critically intertwined.
Blending IT and records management has not always been a smooth process for companies. Because each side approaches data in a different way, the result has often been poor governance – especially when it comes to digital data. Seemingly endless amounts of storage space result in content abandonment. Unnecessary data is kept because the business user no longer needs it and IT is hesitant to delete data without authorization. This opens up businesses to more risk through either non-compliance or data breaches. IT departments and records managers need to work closely together to avoid this pitfall and ensure both regulatory adherence and data protection.
Automation will be critical for efficient information management.
Businesses need complete control over every piece of data they own as both digital and paper records are governed by the same laws and regulations. Managing different formats and large volumes of data is difficult, and having a way to simultaneously organize all record types is critical for staying compliant. The ability to automatically classify and set compliance rules and retention schedules will ensure compliance and improve contract management, redundant, outdated or trivial (ROT) data removal, content abandonment and eDiscovery.
Regulatory requirements will become more stringent.
The complexity of regulatory requirements has been a longstanding issue. Rapid data growth and small staff sizes can be a significant downfall for a company but aren’t excuses for not keeping up to date with regulatory changes, practices and policies. The threat of severe penalties for non-compliance can be daunting and companies should look to outside help for establishing and maintaining IG programs to ensure ever-changing regulations do not get the best of them.
Cyber attacks will be more complex and sophisticated.
Companies should understand it’s not “if” but “when” a data breach will happen to them. The sheer abundance of digital data means higher risk of sensitive information being leaked. Managing the technical and operational challenges of securing data will be complicated against sophisticated, knowledgeable and motivated adversaries. Even though cyber attacks are commonplace now, they still catch business off-guard. Getting the right security in place and having a plan to minimize damage is the best way for companies to prepare for complex and sophisticated attacks.
There will be increased pressure to protect personal data.
It should be no surprise that there will be more regulations requiring companies to better protect personal data. The EU’s repeal of the Safe Harbor pact last year is the first of likely many changes as legal departments scrutinize how private data is stored and shared. The proliferation of digital data has emphasized security risks associated with managing personal data. Companies will be expected to safeguard this type of information more fiercely than ever before.
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