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Risk Management Article
July 11, 2018

3 Main Reasons Why Information Governance Is Needed

A lot of people still underestimate the need and importance of information governance in their risk management planning. But in reality, it is predicted that around 20% of the CIOs will definitely lose their job due to the failure of implementing proper information governance. After all information governance is basically guidance principle sets that are designed for business leaders for efficient, acceptable, and effective usage of information technology for the sake of their organization.

Unfortunately, most business leaders would place the information governance in the bottom spot of their priority list because they think it is not important. But if you read the news lately about Target or Sony breaches, you will think twice about underestimating the whole report. You need to make it a priority, no matter how limited your resource or the budgets that you have – or be ready to deal with further ugly risks that will impact the business.

Angela Dingle, CEO as well as President for Ex Nihilo Management, a business consultant company providing IT risk and governance, thinks that there are 3 main reasons why information governance should be implemented soon enough – and with correct preparation.

  • It is not getting easier to deal with regulatory compliance. Whether you are working in government or private industry, the requirements that sets the usage, acquisition, and protection of information technology will affect you do your business. Going in line with government requirements won’t be easier, so you should brace yourself from the beginning.
  • You are the target of bad guys. Most people think that only the big firms will be the target of security breach or threats. But do you know that bad guys are just bad guys; they simply want to ruin your business – small or big. If they know that they have affected your business in a negative way, they are happy by doing so.
  • Implementing information is always good for business. You have your own business ethics to protect your customers, employees, and stakeholders’ important data. If you have at least good planning on information governance, others will see you as a serious business owner who cares for everyone related to your business operation.