When discussing the benefits of good information governance (“IG”) with clients, we often hear that it doesn’t apply to an organization because it doesn’t have a lot of litigation. Fair enough, but the days of believing that implementing good IG practices is solely premised on lowering litigation costs (they do that) or minimize the risk of spoliation (they do that too) are long gone. Frankly, the business case may be even more compelling than the legal one. Consider the following benefits of good IG:
• Streamline business operations: you’ll know what you’ve got and where it is stored
• Increase employees’ productivity: reduce time spent to locate relevant business information
• Protect internal confidential and personal information through proper classification and reduced volume of records
• Support budgeting and other prospective activities
• Reduce volume of business records (especially duplicates), lowering data storage costs
• Eliminate non-business records quickly
Not yet convinced? Consider recent studies that indicate that employees spend up to nine (9) hours per week looking for information. That is almost one week per month of work time! Your organization may not have a lot of litigation, but can it afford all of that lost productivity?
All organizations benefit from good IG. There are approaches to IG that suit the small to large organization. This means that there are some simple, inexpensive approaches that may be taken that can make a meaningful difference, even in small companies. Can you really afford to lose your employees one week of four? It really comes down to that.