Technology is changing the way organizations distribute and share information. With increasing volumes of data, more management is needed to keep the information secure. In 2018, information governance, the rules and regulations by which organizations create, store, and use information are evolving. Two key areas of information governance which organizations should focus most on are business intelligence and data protection.
How should organizations prepare to meet the demands of these challenges? Mark Zuckerberg of Facebook recently went before Congress to explain how data privacy legislation is “inevitable.” In the European Union, the General Data Protection Regulation (GDPR) will go into effect starting May 25, 2018, which requires organizations to protect customer privacy and notify them of any data breaches within 72 hours. EU citizens have the right to know how their personal information will be used. GDPR also grants EU citizens the power to have their personal data deleted on request.
In response to these recent developments, information management professionals have been strengthening privacy policies, information controls, expiration times, and the tracking of information. In the United States, information managers may need to do more to ramp up information protection efforts to comply with tighter information governance laws. What does all this mean for information managers and businesses? In this post, we look at how the newest developments in information governance will affect organizations in a multitude of industries.
What is Information Governance?
To begin modifying your organization’s policies towards information and data protection, a firm understanding of the definition of information governance is needed. Information governance is defined as a framework of mitigating organizational risks to ensure the oversight and security of information disseminated. By implementing an information governance strategy, businesses will have greater power to carry out the most responsible, fully documented information protection policies.
One of the most valuable assets in any organization traces back to information governance. Information is an asset too and therefore must reliable and trustworthy enough to preserve the organization’s reputation and industry authority.
How to Best Stay Current with Information Management Practices
Information is a driving force for many organizations today with an increasing level of security breaches causing lost productivity and revenue loss. By instituting stronger information management standards, businesses will be better prepared against threats and maintain their compliance in North America and Europe. Below are several ways to keep your business compliant and protected.
Create Visual Business Process Maps
You need to have a business mapping tool to illustrate the ownership of information in your organization. You’ll best show your compliance to regulations with this kind of documentation. There will also be opportunities and room of improvement for streamlining business workflows.
Update Organizational Procedures
To keep your business in peak condition for meeting information governance, policies need to be updated to reflect adherence to local, state, and federal laws and guidelines. Best privacy practices should be left up to discussion by key individuals and attorneys. Going through internal organizational procedures and adjusting them will strengthen your business’s compliance.
Develop Incident Response Plans
Organizations must have an incident response plan to limit the effects of data security breaches. An incident response plan drafted ahead of time will provide the blueprint for maintaining business continuity in the event of a critical loss of data and information. A strong incident response plan must have several components:
• Business impact analysis
The business impact analysis identifies and prioritizes the most important information and assets in your organization.
• Recovery strategies
Recovery strategies in your organization are a must to keep your most valuable information secure.
• Personnel training
Each member of your team should be trained on the latest procedures to follow in the event of a security breach.
• Preventative Controls
Reduce information lifecycle costs throughout your organization by instating preventative controls to lessen the impact of a major information disruption.
Ongoing Training and Education
Ongoing training for your employees is necessary for information governance to have its full effect. Lapses in security frequently occur because people often make bad decisions which jeopardize compliance and safety. You should enact policies and rules to make it as easy and clear as possible for your employees to follow. Compliance is never a one and done deal, so everyone in your organization must understand the full impact of business activities.
Other Ways You Can Upgrade Your Information Governance in 2018
To best equip your organization for the challenge of complying with evolving information governance laws and regulations, we recommend the following:
• Stakeholder Education
Have a meeting with your stakeholders and inform about the changes occurring with information governance.
Look at your organization and check to see if there are any gaps which need addressing.
• Seek Advice
It’s usually best to have a third-party objectively analyze your organization to find potential ways to broaden information governance.
• Create Support
Information governance programs should have support from top business leaders in your organization. Many different departments should be able to collaborate to execute your ideas.
These information governance measures will help you increase the security of your organization’s information, assets, and data. Coupled with an experienced vendor, you can take action to protect your most critical business information.
ARKIVE’s state-of-the-art information management technology including MyKloud, our most powerful cloud-based information management system, gives you everything you need to solidify information governance procedures throughout your organization. For more information, please contact us at (844)-927-5483, Option 1 or get a free quote.