A report from the Association for Information and Image Management (AIIM) shows that 51% of organizations have had data governance incidents in the past 12 months, including 16% undergoing a full data breach. Overall, 45% of business executives state that a lack of a solid information governance program leaves their company open to litigation and data governance risks.
IG Importance on the Rise
The report goes on to state that 41% of respondents admit that their email management is "chaotic" and 22% report a negative financial impact from cases around electronic records. Additionally, 60% of those surveyed agree that automation is the only way to keep up with the increasing volumes of electronic content. Because of these factors, information governance is beginning to have a bigger seat at the table, with 28% of organizations stating it is very high on the senior management agenda and 53% of companies having new IG initiatives. As for the drivers behind these new initiatives, 61% state compliance is the main reason, 51% are concerned about preventing data loss and 48% are mainly motivated by creating searchable knowledge.
Mobile and Cloud Need to Be Considered
Another area that businesses seem to be behind in is mobile devices and cloud-based content. Although these technologies have been prevalent in the corporate world for many years, the information governance policies have yet to catch up for most surveyed. In fact, only 47% stated their IG policies covered mobile access and mobile devices and just 36% have specific policies for cloud-based content.
As we have discussed in a previous blog post, getting buy-in from senior management in all departments is critical to the success of an information governance strategy. To illustrate that point, 41% of respondents stated that enforcing the IG policies once created was their biggest issue, followed shortly behind with 39% saying getting the right people, especially senior management was their top roadblock.
This in-depth report from AIIM has uncovered a large amount of interesting data that shows most organizations still have a long road ahead to achieve complete information governance. One of the key takeaways is that automation is a necessity in any organization's information governance program. In fact, the title of the report is "Information Governance: Too Important for Humans".
Here at RecordLion, we also believe in that philosophy and that is reflected in the way our software is built. Proper information governance can save any company time, money and reduce the damage of a breach or compliance issues. To find out how to automate and simplify your information governance program, click below to download our white paper.