Today is Global Information Governance Day
Chances are likely—or more accurately, 100 percent—that there isn’t a “Happy Global Information Governance Day” card at your favorite drug store. Nonetheless, the third Thursday of February of each year is set aside for that specific designation, and while we’ll probably never get a day off to celebrate the occasion, we think it’s a really big deal.
Information management solution providers and groups like the Information Governance Initiative, ARMA, AIIM and AHIMA have proactively (and loudly) preached the necessity of clear rules and procedures to reduce the risks associated with data for quite some time. While information governance has always been considered a “good idea,” businesses often struggled to make it a top priority. Then, seemingly overnight, IG became a ubiquitous, “non-negotiable” practice, as evidenced by the fact that there is now a Global Information Governance Day.
So why the sudden interest? In our whitepaper, “Bridging the Information Governance Gap,” we explored the perfect storm that accelerated IG from “We’ll consider it” to “We need it now!” status:
- Digital Data. Unlike physical records, which are more slowly produced and less mobile, digital data can be created, shared and replicated in the blink of an eye. Companies were now housing vast quantities of digital documents before anyone knew how to actually manage it.
- Compliance Expansion. Globally, new privacy laws were instituted at a rapid pace. The volume of digital information coupled with the need to understand and adhere to more regulations than ever before caused companies to fall out of compliance. Relying too heavily on purchasing more digital storage space exacerbated the risk for serious compliance fines and other penalties.
- Data Breaches. Security breaches became commonplace, with no industry or organization immune. Companies quickly realized that should they fall victim to a breach—and the chances likely that it will happen eventually—they had no idea information was at risk because they themselves had no idea what information they had. The lawsuits, customer churn and reputational damage associated with breaches were simply too great to ignore and a greater emphasis on “data footprints” arose.
For so many companies, instituting effective IG standards was akin to competing in a race that started before they had any idea the race even existed. The good news is that more IG experts, improved technology such as automation and SaaS based IG solutions are helping organizations quickly get up to speed. Already, there has been a veritable 180-degree attitudinal shift regarding IG for businesses around the globe, and that shift is expected to continue. The discussion has moved out of the records room and into the board room, and with each passing Global Information Governance Day, data will become a greater driver of business, as opposed to an inflated risk factor.
Recall can solve your organization’s most complex information governance challenges; learn more here.
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