The term and notion of Information Governance is getting a lot of attention these days, and for good reason. Information is the lifeblood of businesses today and properly managing and governing its collection and use is a fundamental corporate imperative. As the volume and variety of enterprise information continues to grow, so does the need for well-thought strategies and approaches for information governance.
Advancing Information Governance
Information governance is most commonly associated with risk avoidance – things like data security, regulatory compliance and legal discovery. But a more expansive definition of information governance is emerging that has broader implications. While risk mitigation remains an important part of the mix, organizations are beginning to view information governance in terms of organizational cost and performance as well. Information carries great risk to be sure, but there is great cost in using information inefficiently, or not using information in ways that improve the performance of the organization.
Risk, Cost and Performance
The emerging model of information governance is rooted in three areas: risk, cost and performance. It makes sense to include activities to reduce the cost of finding and using business information. And the real value of information governance may indeed be found by building capabilities that increase business performance. Doing more with data to improve processes and products, boost brand satisfaction, and enable more effective decisions are just a few of the benefits of the new information governance paradigm.
New Strategies Needed
Despite the advantages, many organizations do not use data capture systems in ways that take full advantage of the technology, especially as you consider the broader implications of the new information governance paradigm. Capture systems help organizations to do a better job at information governance by providing the ability to capture information that is locked on paper. This results in lower risk, lower costs and smarter, more thoughtful business decisions. Ready to move forward? Look for solutions and partners that provide the right mix of experience, vision, and advanced capabilities that leverage the full value of the technology.