Growth in business means producing and storing more data. An increase in digital and physical records escalates the possibilities of compliance problems and security breaches. According to IDC, many companies fail audits due to missing records. Finding lost or misplace records is time-consuming and the leading problem for increased risk. Therefore, it is crucial to implement RIM [records & information management] and IG [information governance] practices.
RIM and IG – why both?
RIM and IG are different but cannot survive without one another.
- The Information Governance process ensures legal compliance, mitigates risks, and protects confidential data privacy. Organizations enforce appropriate behavior in using, creating, archiving, and disposing of corporate information.
- Record & information management handles how digital and physical data is managed, stored, protected, and destroyed.
For successfully operating in this data-rich environment, there is a need for both RIM and IG programs. To focus on strategizing and implementing RIM and IG processes, it is sensible to hire a reliable data or information governance consultant.
Some of the good reasons to hire a data governance consultant from EWSolutions are given below. Poor RIM and IG process planning can be a waste of resources but with a reliable IG consultant, you can improve compliance and productivity.
Avoid audits & penalties
Poor record-keeping practices can be bad for a business. Failed or violated audits can cost penalties in thousands or even worse your business operations can come to a halt. The consultant performs a Gap analysis of the existing plan. It helps to resolve the compliant vulnerabilities associated with data governance guidelines and policy.
Prevent data breaches
The cost of hiring a consultant to manage the records seems high, but the protection cost offsets the financial repercussions and reputation loss that can be caused by a breach.
Align with data generation
Digital business technologies generate tons of data and are growing exponentially. It is predicted to grow to 176 zettabytes by 2025. To accommodate the increasing digital data output, there is a need to align with compliance and security. If you ignore incorporating RIM and IG processes today, it will become more challenging in near future. The consultants help to identify the genuine information to record, thus reducing the data amount to be stored and managed.
Go paperless
Proper Metadata planning and managing are essential for business success. Adopt a digital tagging system, which allows the scanned and cataloged data to be retrieved easily with an appropriate IG plan.
Roll better internal communication
All employees responsible for handling company data will clearly know how to handle every situation, which is defined in the information governance policy. The IG consultant ensures that there is smooth communication across multiple departments on how to handle situations like mergers & acquisitions, data loss, and natural disasters.
Reduce costs associated with finding misplaced data
Partnering with a reliable IG consultant means you are placing the right foot efficiently from the start. The experts are aware of the way to store records, which destruction procedure to apply, and what kind of digital storage program is right for your niche. The consultant is also updated about the rules and regulations relevant to your business, so help to build a wide-ranging, legally defendable IG program.
Leave a Reply