Search for “maximising the value of information,” and you’ll uncover a wealth of resources. But why, despite all this information, are organisations still grappling with the challenge of managing it effectively?
The rapid evolution of technology has driven exponential growth in information volumes. While new tools and platforms have emerged to help manage this data deluge, they often come with their own complexities. Some technologies do deliver efficiencies, improved usability, and better business outcomes. Yet, adopting new technology without a strategic approach can lead to more confusion than clarity.
So how can organisations truly maximise the value and minimise the risks of their information? The answer lies in a robust Information Governance (IG) strategy.
What is Information Governance?
Information Governance provides a structured framework to help organisations understand, manage, and control their information assets throughout their lifecycle.
According to Gartner, a leading global research and advisory company, Information Governance is “the specification of decision rights and an accountability framework to ensure appropriate behavior in the valuation, creation, storage, use, archiving, and deletion of information. It includes the processes, roles, policies, standards, and metrics that ensure the effective and efficient use of information.”
Similarly, the National Archives of Australia defines it as a “system for managing information assets across an entire organisation to support its business outcomes.” Likewise, Data.NSW’s Information Management Framework offers a cohesive strategy and shared direction for how information should be managed across the public sector.
Despite differing terminologies, the common theme is clear: Information Governance ensures that all of an organisation’s information, including records and data, is managed from creation to use and eventual disposal—with governance embedded at every stage.
Why Information Governance Matters
With effective Information Governance practices, organisations can:
- Achieve responsible corporate governance.
- Mitigate risks related to compliance, privacy, and security.
- Maximise the value of information assets by ensuring they are accessible, reliable, and aligned with business outcomes.
Building an Effective Information Governance Framework
Developing an information governance framework with a ‘by design’ approach will help organisations have information that is trusted, reliable and focused on business outcomes. Effective frameworks require collaboration across specialty areas including privacy, security, compliance, information management, records management, data management and information technology. A key component in aligning these specialty areas is an information asset register (IAR).
The Role of the Information Asset Register
To govern information effectively, you must first understand what information you have, where it resides, and how it’s used. This is where an Information Asset Register becomes invaluable. An IAR provides a comprehensive inventory of your organisation’s information assets and their context, including:
- Asset Identification: What information assets exist within the organisation?
- Location: Where are these assets stored?
- Format: Are the assets digital, physical, or in another format?
- Ownership: Who are the custodians or business owners?
- Access Requirements: What privacy, security, and accessibility rules apply?
- Value Assessment: What is the asset’s legal, operational, or strategic value?
- Retention and Disposal: What are the regulatory or business requirements for keeping or discarding the asset?
- Risks: What risks need to be addressed to protect the asset?
How an IAR Supports Information Governance
An Information Asset Register provides clarity and structure, enabling organisations to:
- Establish decision rights for information assets.
- Identify and manage any risk to the assets.
- Prioritise high-value, high-risk assets.
- Link information management directly to organisational goals.
- Identify opportunities for information reuse and optimisation.
- Ensure compliance with legal and regulatory requirements.
By serving as a central reference point, an IAR ensures alignment across teams and facilitates proactive, informed decision-making.
Getting Started with an Information Asset Register
Ready to implement an IAR? Explore these examples and an article from Recordkeeping Innovation that provides actionable strategies for managing information risks and enhancing governance practices.
- Record Keeping Innovation – Key Strategies for Managing Information Risks
Information Governance isn’t just about compliance; it’s about creating value. By implementing a robust framework, supported by tools like an Information Asset Register, organisations can unlock the full potential of their information assets while mitigating risks.
At Recordkeeping Innovation, we specialise in helping organisations design and implement effective Information Governance strategies. Ready to take control of your information? Contact us today to learn how we can help.
References:
- Gartner: Definition of Information Governance.
- National Archives of Australia: Establishing an Information Governance Framework.
- Data.NSW: Information Management Framework.
