More and more organizations are ramping up their strategies surrounding Information Governance…and for good reason. How effectively we collect and use information to drive the processes and further the objectives of our organizations has a lot to do with how effectively we manage organizational performance overall. And as the volume and variety of enterprise information continues to grow, so does the need for well-thought strategies and approaches for information governance.
Information governance is most commonly associated with things like data security, regulatory compliance and legal discovery. But a more expansive definition of information governance is emerging that goes beyond risk avoidance. Organizations are now viewing information governance in terms of organizational cost and performance as well risk. C-Suite decision makers find there is great cost in using information inefficiently, or not using information in ways that improve the performance of the organization.
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.
It makes sense to broaden our definition of Information Governance to include activities that reduce the cost of finding and using business information and not just ways to reduce risk or penalty. And the real value of information governance may be found by building capabilities that increase business performance.
Organizations that are working to address the new information governance paradigm find that bringing about real change requires new approaches to enterprise content and more expansive approaches to ECM technology.
A recent study conducted by AIIM shows that many organizations do not use ECM systems in ways that take full advantage of the capabilities. Indeed, most enterprise organizations have advanced scanning and capture systems, but only about 50% employ document automation.
This trend is changing quickly, however, as many companies indicate that new ECM approaches will feature prominently in their future strategies.
What should you do as we enter the new Information Governance paradigm? Start by examining how your current systems support the aspects of risk, cost and performance. Strive to use the tools you already have in new and more profitable ways to increase your return.
And look at how next-generation ECM solutions can expand your abilities to lower your costs and enable smarter, more thoughtful decision-making. Choose solutions and partners that provide the right mix of experience, vision, and advanced capabilities that leverage the full value of ECM technology.
Want to learn more? Download my white paper “The New Information Governance Paradigm” from DocStar.
Guest contributor Kevin Craine is the author of the book Designing a Document Strategy and host of the Document Strategy Podcast. He is the managing director of Craine Communications Group. For more information visit CraineGroup.com.