IG, Regulations & Compliance

Rethinking IG: Getting the Most Value From Your Information

rethinking-ig-getting-the-most-value-from-your-information

IG, Regulations & Compliance

Rethinking IG: Getting the Most Value From Your Information

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When the COVID-19 pandemic hit, it forced a lot of people to rethink how they do business - fast. With almost everyone moving to work remotely, this included how they were governing their data and information.

When the COVID-19 pandemic hit, it forced a lot of people to rethink how they do business - fast. With almost everyone moving to work remotely, this included how they were governing their data and information.

Back then, no one knew how long the pandemic would go on for, they just knew they had to act fast. This led to rapid scanning and digitization of records and information without too much forethought. Now that it’s been just over a year of the pandemic, however, people and organizations are re-evaluating and rethinking how they’ve been managing their information through this crisis. The focus has shifted from making records and information accessible to evaluating and getting their arms around the full breadth of the information they now have; because with the pandemic, the shift to remote work and the digitization of documents came the creation of more information that organizations now need to manage. 

Reimagine the Risk and Value Equation

While COVID may have accelerated organizations’ digital transformation journeys, after a year of moving fast to meet the new needs of people, employees and businesses, many are discovering that simply digitizing information and moving content forward does not mean the value or usability of that content has improved. In fact, many are now stumbling through their digital transformation and discovering they aren’t getting as much value from their information as is possible

It’s important to think about the effect this transition has had and is having on the information layer of your business and on your digital transformation. Bringing the same “black hole” content forward won’t enable the right business processes and won’t result in the desired efficiencies you may have envisioned. 

It’s time to reimagine the risk and value equation around the entire information layer, or information body, that businesses have across the organization.

The Three-Legged Stool

A strong information governance (IG) program is key to not only ensuring your business is in compliance with any applicable regulations but also ensuring you get the most value out of your information. 

A strong IG program sits on a three-legged stool; without sound policies and governance, the right technology and a supportive culture in place, an IG program most likely won’t deliver the value you’re looking for.

Businesses tend to have the first two items on this list in place: policies and governance, and technology. Where many are lacking across the board is a culture that supports and fosters IG.

IG Culture: Getting Buy-In

An IG culture is an area that tends to get the least amount of support and resources within the organization even though it’s clear IG plays a vital role in not only protecting information but extracting the most value from it. The key to building an IG culture within the business is getting buy-in from the organization’s key stakeholders. The best way to achieve this is to take on a change management perspective when talking about IG. Leading with how IG can help achieve those business objectives is the most effective strategy.

The First Step: IG Maturity Assessment

Classically, the business of IG has been represented by record retention schedules even though it is so much more than that. This is where IG maturity assessments are helpful. 

With an IG maturity assessment, an organization can compare their IG program and processes against 10 competencies. These competencies have been gathered from a peer group meaning this assessment can help an organization assess where they sit among their peers in terms of IG maturity. 

Understanding where your organization falls in terms of IG maturity is the first step in rethinking the business of IG and starting the conversation around getting the most value from your information.

Iron Mountain’s IGHealthRate™ can start you on the right path by helping you understand your IG baseline, enabling you to start that important IG conversation with key stakeholders and begin to reimagine all the possibilities IG provides.

Deeper dive:

Learn more about information governance and advisory services
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