At first glance, information governance may seem synonymous with records management. But, it’s more than that. While records management tends to focus heavily on retention policies and schedules, information governance takes a holistic approach and considers the use and security of a company’s information.
What does information governance involve?
Information governance includes not just information security and compliance, but data governance, risk management, information storage, analytics, business operations and more. Basically, it involves every aspect of your company’s creation, use, storage and destruction of information. Effective information governance clearly outlines policies and procedures that ensure your company is protecting its information – while getting the most out of it.
Information governance and risk management
One of the most important areas of information governance is risk management. A lack of compliance with government and industry regulations can lead a business down a dangerous path, exposing it to high levels of risk. By considering information governance and striking a balance between how your company uses information – including client and employee information – and following best practices, you can mitigate that risk.
Get the most from your information
Rather than being purely functional like records management, information governance also focuses on the strategic management and use of data. Approaching information governance effectively requires you to take the long view. Reflect on your company’s current needs and the ways in which you use and protect information now, and then consider how your business is likely to grow over the next several years and how your information management may need to adapt. Look for areas where you could use information more efficiently and effectively, and then revise your policies and procedures accordingly. Optimal information governance helps your company achieve its goals in a timely manner without creating additional risk.