Perhaps FINRA is upset with your records management process. Maybe your legal team tried bringing a knife to a gun fight. Or it’s possible that your organization just wants to use its information more intelligently. There are many reasons why you would want to archive data. This article will not explore these reasons: typically shoppers in the information governance space have some sort of vision for their platform. Instead, I would like to consider some aspects of this important move that teams often do not consider.
Data management systems come in many different shapes, sizes, and configurations. But they do have one thing in common: they work with data. There are several strategies products use to capture data, butand the correct strategy depends on what you would like to do with that data. For example, Pperhaps real- time data capture and manipulation of data is essential for your organization, such as the requirement to pre-review emails. Journaling (a method of pushing data to your information governance platform) would therefore be required. Or, perhaps your organization is looking to reduce data storage costs. A pull method of extracting data – and potentially replacing those emails or files with a stubbed link or shortcut – will therefore be appropriate. MOr maybe your organization could even benefit from both methods: but in any case, understanding your data input methods should not be overlooked before designing your information governance solution.
Another aspect shoppers in the information governance space commonly overlook is the issue of ownership. The beautiful thing of information governance is that it does (or, at least should!) impact every facet of an organization. The most obvious stakeholders are typically legal and information technology groups, and indeed representatives from these departments commonly take the reins. But even among just these two groups the priorities and considerations are typically quite different. Designating who gets the final say over issues including performance, price, and required resources to maintain such a system can itself be the most difficult decision to make. And But do not forget about the other departments and, most significantly, the everyday end-users of the system.
Savvy clients of information governance should, at the very least, be familiar with these common issues. And clearly this post was not meant to be an exhaustive review of every issue you may face. But these real issues, which encompass both technology and human resources, needs to be at least considered before one enters the space.