“Over 70% of organizations see Information Governance as important or critical to their business strategy.”
Organizations are experiencing unprecedented growth in the volume, complexity, and importance of information. As the information continues to multiply and flow into an organization, so do the legal risks and compliance challenges that come with it. In the AIIM Industry Watch Report, Accessible AND Secure – Best Practices for Automating Information Governance, underwritten in part by Systemware, learn about the latest key trends with Information Governance, and how leading organizations are structuring their information strategies to help mitigate compliance risks while finding increased value in the information itself.
Compliance on the radar
Relative to five years ago, there has been a shift in the strategic importance organizations place upon effective Information Governance. Organizations expect the volume of information flowing into their organization to grow rapidly and over 60% of this info is expected to be unstructured. As a result, organizations have realized the dire need for a comprehensive governance program that can identify, manage and secure information across its lifecycle to reduce litigation and legal risk. In fact, 73% of organizations see Information Governance as “important” or “critical’ to their business strategy. This pivot towards incorporating Information Governance with business strategy is a step in the right direction.
In the past, “legal risk” was the primary concern for a failure in Information Governance. Today, with the uptick in security breaches and increase in new policies for compliance, legal risk is just a drop in the bucket. Concerns like loss of customer confidence, damaging publicity, hefty fines and penalties from regulators for loss/exposure of personal information, as well as loss of intellectual property or confidential company information have upped the ante on the importance of Information Governance strategy and implementation.
There is still work to be done in the move toward accessibility and security. Organizations understand that they are not investing enough in Information Governance capabilities. In fact, 43% of organizations feel they are spending too little relative to the risk associated with failure of information governance. To adjust Information Governance spending to match the level of the challenges, new selling techniques are needed. Direct selling “value propositions” don’t work. There has been some progress made with selling the Information Governance projects against specific risks and compliance process concerns. The most effective approach has been to sell it indirectly, make it a necessary element in the process automation initiative as a by-product of automation and customer experience. There must be buy-in and implementation across the board for the strategy to be successful.
Perhaps the greatest change over the past five years has been the increasing adoption of tools to automate governance and make it as invisible as possible to the average knowledge worker. 53% of organizations see automation of Information Governance processes as highly important /game changer. First-generation tools are being widely used to move beyond legacy paper-based records management strategies and automate core Information Governance processes. These tools were a move in the right direction, however a new frontier with new more sophisticated tools awaits and organizations must be ready.
One of the essential things you must know about automating Information Governance is in order to be both accessible and secure, the governance model has to have the support of senior management, business unit managers, supervisors, line managers, end users, and many other specialized roles. Good governance is more than just policies and procedures, it has to exist at every level and within every department of the organization to be successful.
Learn more in our free partnership paper with AIIM:
Systemware has been a pioneer in enterprise content management for nearly 40 years, helping the world’s largest and most highly regulated organizations capture content from a variety of business systems, find it wherever it is stored and deliver it in the context needed for each business line. Our content services platform, Content Cloud, helps organizations modernize their content management, interoperate with a range of repositories and systems, automate their processes, personalize their experience, and enable their content for business intelligence. Systemware is committed to ensuring organizations meet information governance requirements in a manner that optimizes cost and complexity while providing a tailored experience for users. Learn more at www.systemware.com. Follow us on Social Media (LinkedIn, Facebook, Instagram, YouTube, and Twitter) to keep up with all the latest news and product offerings.