Progress in the area of information governance (IG) can be frustratingly slow. We recently read that only 29 percent of Europe-base companies are GDPR compliant, and CGOC research has found that in the U.S., IG maturity remains low, despite the reality of the GDPR, as well as the CCPA going into effect next year and new federal rules being considered.
The biggest obstacle to maturing information governance programs is the very limited way organizations continue to think about the benefits. If these programs were really just an expensive investment with no benefit other than marking off compliance checkboxes, then it would be understandable for organizations to take a wait-and-see approach to every step. But that’s far from the whole information governance story. An information governance program offers several vital business benefits, and organizations should not have to be dragged kicking and screaming to ensure customer confidence, enable innovation, protect their IP, increase productivity and save money.
Information Governance is about knowing what you have, where it is and who has access to it, so you can eliminate data siloes, better manage data quality and lineage, control access, retain data where necessary, and delete it when you can or must. In addition to enabling cost-effective regulatory compliance and avoiding increasingly large fines, the benefits of a comprehensive, well-run information governance program extend across the organization.
Once you embrace all the potential benefits of information governance, how do you convince the rest of the organization to get onboard? A recent CGOC webinar, “Enable Governance and Value in the Information Economy: Through Data Cataloging, Categorizing, and Mapping,” is a great place to start. Candace McCabe from JB Hunt and Amir Jaibaji from IBM get into some of the nuts and bolts of creating the foundation for successful information governance and making the business case. You should definitely check this out.
The CGOC provides other critical resources, including the Information Governance Process Maturity Model and the Information Lifecycle Governance Leader Reference Guide. The following articles should also be required reading:
As a member of CGOC, you can interact with and learn from other legal, privacy, RIM, and IT professionals; participate in practice groups; attend workshop and webinars, and gain access to our latest research.
The equation is now very simple. Managing data for regulatory compliance is essential. And while a comprehensive information governance program is the most cost-effective way to manage data for compliance, it is also indispensable to the success of initiatives across the enterprise. The value it delivers will far outstrip the investment in the program.
I challenge every executive to embrace the power of Information Governance to transform your organization and share that enthusiasm with every employee.
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