The latest State of Information Governance Report by the Information Governance Initiative features data on the progress companies are making as they move to information governance.
Information governance (IG) is still in its infancy as a business concept, and the Information Governance Initiative focuses on increasing understanding of IG policies and technologies. This is their third State of Information Governance Report and it shares a number of insights on how quickly IG has grown in the value-conscious board rooms of industry.
The most interesting and encouraging finding from this year’s report is that the number of respondents reporting they have never undertaken an IG project dropped by 90%. This means organizations recognize Information Governance has arrived as a valid business concept.
The State of Information Governance Report goes on to say the number of organizations realizing value from these projects went from 16% last year to 46% this year. This shows that information governance is firmly rooted in the boardrooms of many organizations and will continue to grow in importance. This good news is tempered with the continual perception of lack of organizational awareness around information governance.
The report was based on self-directed surveys of information governance practitioners evenly spread among small, medium and large organizations. The survey population came from a wide range of industries, including legal, finance, banking, insurance, government, military, healthcare, medical, education, utilities, pharmaceutical, chemical and IT. The majority of respondents came from the U.S., U.K. and Canada.
What’s interesting is that organizations have moved data remediation projects up in priority over the scanning of paper documents. This may indicate that organizations believe hardcopy isn’t as valuable in light of their future strategic plans. This section of the report also serves as a good road map for other organizations looking for guidance on how to proceed with their own programs.
The State of Information Governance Report is full of good news and practical advice for IG practitioners. The main focus of the report from the Information Governance Initiative is how to illustrate the value of information governance to the decision-makers in your organization.
From risk mitigation and cybersecurity to reducing costs and moving into business intelligence, information governance is growing in importance regardless of industry. This report is well worth the time to review and share within your organization.