What is Information Governance? Why is it important?

by KnowledgeLake on Jun 7, 2017

It is estimated that 92% of the world’s data was created in the past two years. According to InfoGov Basics, this figure is predicted to grow to 44 zettabytes by 2020.

Business information has become a double-edge sword. Many organizations struggle to keep their business documents safe while ensuring information is scanned, organized, centralized and able to be quickly retrieved. While the idea of creating an information governance plan may seem daunting, forward-thinking organizations are taking control of content by digitally transforming their process.

What is Information Governance?

According to industry expert Robert Smallwood, information governance is the security, control and optimization of information. While this definition is simple, the action is very complex and involves making decisions regarding all of the information a company collects over time. Information governance is a principle-centered behavior, ensuring people and systems have appropriate access to quality information for the right reasons.

There are more than 100,000 rules and regulations governing corporate operations, globally. -InfoGov Basics

Information Governance also addresses:

    • How information is presented on communications channels. For example, since video conferencing, webinars and rich media websites are the norm, this information must be taken into account.
    • Usage of personal devices for work-related tasks. Many people work from their own computers or use their smart phones to access information – which means the organization is at risk of violating data protection and information security.
    • Interactions through social media channels. Employees engaging with partners and customers via corporate social media networks are also addressed under the umbrella of information governance.

    An over-arching information governance strategy can effectively manage the content placed in your SharePoint Online or on-premises environment while providing guidance for acquisition, management, storage, retrieval and destruction of business content within all aspects of an organization’s environment.

    How to get this “right”

    What is Information Governance?While many businesses have traditionally delegated this responsibility to Data Management and/or Records Management Departments, this tactic can no longer adequately address the volume and type of information collected and delivered. Mishandling critical information can cost your business in terms of compliance and regulatory fees exposing you to potential litigation.

    20% of CIOs in regulated industries are predicted to lose their jobs in the next few years through failures in Information Governance. –InfoGov Basics

    Information governance involves improving how the company monitors and uses the information stored in its document management system, be it SharePoint or some other environment. The plan also measures regulatory compliance adherence, maintains effective security and conducts risk assessments.

    Digitally transforming your enterprise and learning about what is information governance can create tremendous business value and drive innovation. Adapting and evolving with technology can allow your company to effectively track and monitor information, so your enterprise can focus on opportunities to increase sales and maximize customer service.

    Watch the recorded webinar, Information Governance in SharePoint: Save Costs, Reduce Risks. Dr. Andrew Hutson, KnowledgeLake’s Senior Director of Enterprise Solutions explains what is information governance and how to create a plan that ensures compliance and helps you make smart decisions in the right place, at the right time.

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