Modernizing Information Governance: Challenges and Strategic Solutions

Introduction

As organizations navigate increasing volumes of data and evolving regulatory requirements, modernizing information governance becomes a necessity rather than an option. But how should companies approach this transformation? The decision to build, partner, or outsource depends on several key factors, including expertise, resources, risk tolerance, and timeline.

Modernizing Information Governance can involve a variety of different strategies. Selecting the correct one depends on the specific needs and goals of the organization in question. When it comes to deciding whether to build, partner, or outsource, there are several factors to consider: 

Expertise: Does the organization have the in-house expertise necessary to modernize its information governance practices, or would it need to acquire new skills or knowledge? Is the organization able to continue to keep on top of new regulations or requirements in the global economy? 

Resources: Does the organization have the resources, including time, money, and personnel, to undertake the modernization effort on its own?  

Risk tolerance: Does the organization have a high tolerance for risk, or is it risk-averse? Building or partnering can provide more control over the modernization process but also carries a greater risk of failure or delays. Outsourcing provides more certainty, but it also carries a greater risk of losing control over the process. 

Timeline: What is the timeline for modernizing information governance? If the organization needs to move quickly, outsourcing may be the best option. Building or partnering can be more time-consuming, especially if the organization needs to acquire new expertise or resources. 

Based on these factors, an organization may choose to:

• Build: If the organization has the necessary expertise, resources, and risk tolerance, building a modern information governance system in-house may be a good option. This can provide greater control over the process and result in a more tailored solution but comes with the risk of having to keep up to date with any changes in requirements, or regulations.
• Partner: If the organization has some expertise and resources, but needs additional support, partnering with an outside provider, like Cloudficient may be a good option. This can help to fill gaps in expertise or resources to provide a more efficient solution. Partners can also be obtained in different geographies if required so that local regulations and compliance needs are taken into account.
• Outsource: If the organization lacks the necessary expertise, resources, or risk tolerance, outsourcing may be the best option. This can provide a more turnkey solution and reduce the burden on internal teams. However, it is still important to consult key stakeholders within an organization to reduce friction when implementing the program.

Ultimately, the best approach to modernizing information governance will depend on the specific needs and goals of the organization, as well as its available resources and risk tolerance. 

Challenges of Information Governance  

Implementing an effective information governance program can be a challenging process. Some common challenges of information governance include: 

Lack of Executive Support 

Information governance requires leadership support to establish a governance framework, allocate resources, and ensure that the organization's information assets are managed effectively. Without executive support, it will be difficult to involve necessary stakeholders across the organization, and these initiatives risk being implemented incorrectly, or not at all. 

Resistance to Change 

Implementing an effective program requires changes in policies, procedures, and employee behaviors. Employees may be resistant to these changes, particularly if they perceive them as burdensome or difficult to implement. This can be particularly observed if the information governance program is developed solely outside the organization. If possible, information governance should be performed without interrupting the day-to-day habits and operations of employees. 

Regulatory Complexity 

The legal and regulatory landscape for information management is complex and always evolving. Laws and regulations vary by jurisdiction and industry. Organizations often struggle to stay up to date with regulatory changes and maintain compliance with both industry and geographical requirements. 

Lack of Resources

Implementing an effective information governance program requires resources from across the organization, including a multi-disciplined team comprised of key stakeholders, varying technologies and information repositories, and financial resources. Organizations with limited resources may struggle to manage this internally.  

Siloed Data and Systems 

Organizations often manage multiple data sources and systems, creating silos that hinder effective data management. These silos can complicate efforts to implement unified data management strategies and make it difficult for information governance programs to integrate data and systems across departments and business units. Consolidating redundant systems will dramatically help organizational information governance programs. 

Limited Visibility

Organizations may lack visibility into their data assets, including understanding the data they have, where it is stored, and who has access to it. This challenge is often exacerbated by merger & acquisition remnants that were inherited during organizational change. These issues can make it difficult to manage data effectively and ensure compliance with legal and regulatory requirements. 

Overcoming these challenges requires a collaborative and strategic approach to information governance. Organizations should establish a robust governance framework, allocate resources, and engage stakeholders to ensure these initiatives are effectively implemented and continuously improved.  

Modernize Efficiently with Expireon 

Modernizing information governance is a complex but essential task for organizations. Whether an organization decides to build, partner, or outsource, the key to success is leveraging the correct experts, resources, and technologies to help stay compliant, effective, and competitive. 

Cloudficient’s Expireon was designed with the limitations of other archiving tools on the market and to simplify enterprise modernization. Expireon centralizes and automates critical information governance workflows, enables organizations to consolidate their silos under a single pane of glass, and maintains compliance with ever-evolving regulations. 

Contact Cloudficient today to learn more about Expireon and how we can help your organization.