As organizations strive to become more efficient and competitive, having a clear and effective information management strategy in place is essential. That’s especially true for healthcare professionals, financial institutions, manufacturers, and legal firms, which have to manage large volumes of data and information on a daily basis.

But what elements are key to an effective and optimized information management strategy?

Why is information management important?

To make informed decisions, protect sensitive data, comply with regulatory requirements, and effectively access and use information, organizations need an effective information management strategy.

Such a strategy can also help organizations save time and money by reducing the need for duplicate data entry and storage, and by improving data accuracy and quality.

To effectively manage their information, organizations need to:

• Develop clear governance arrangements
• Ensure they have the right people in place, with the necessary skills and knowledge to carry out information management tasks
• Implement processes and technologies to support efficient and effective information management

Creating an information management plan

Information management strategies help organizations keep their records management practices in sync, improve processes, and prepare for the future.

An effective information management strategy includes:

1. A records management plan
2. Secure document storage
3. Document scanning and digitization
4. Certified shredding
5. Technology

Planning

The first step is to develop a clear records management plan. Your plan should identify your organization’s objectives, scope, and approach to information management. It should also specify who is responsible for each aspect of the plan and how the plan will be implemented.

Another part of the plan must include a way to identify which records the organization needs to manage. This can be done by conducting an inventory of the organization’s existing records. Once the organization knows what it has, it can then determine what needs to be kept, for how long, and in what format.

You also need to develop policies and procedures for managing records. These should be based on the organization’s legal and business requirements, as well as industry best practices. The policies and procedures should cover all aspects of records management—from creation and capture to storage and disposition.

Secure document storage

Whether due to legal or compliance requirements, some hardcopy records require storage in an accessible, secure location. But storing these records onsite can take up valuable office space and prevent your employees from focusing on important tasks. Offsite records storage services may be the answer.

When selecting a document storage company, it is important to consider:

• Security: Hardcopy records should be stored in a secure facility that is protected against fire, floods, and other natural disasters. The facility should also have features such as 24/7 monitoring and alarms to deter theft and vandalism.
• Accessibility: Having access to your stored records is essential for keeping track of them. To make this easier, you should look for a document storage company that offers an online records management system. This will enable you to securely track and monitor your records to ensure regulatory compliance.
• Cost: When deciding on an offsite records storage producer, organizations should look for providers that offer competitive rates and cost-effective benefits for long-term storage.

Document scanning and digitization

Data governance and eDiscovery are important for any business, especially those with a lot of data to manage. Scanning and digitization services can help by providing a solution that allows you to control and organize your data.

By converting your paper documents to digital files, you can ensure your information is accessible and secure when needed. Not only will you be able to access the data quickly, but you’ll be able to store it in a secure, cloud-based environment. This makes the data available to anyone who needs it without compromising its security.

Additionally, document scanning and storage services can help ensure compliance with data privacy laws and regulations, as digital documents can be easily secured and tracked. By embracing these services, organizations can ensure their data is organized, secure, and readily available.

Certified shredding

Following the necessary laws and regulations is essential when it comes to the proper disposal of documents—especially when dealing with sensitive and private information.

To start, companies should have a secure disposal policy in place that outlines the proper procedure for document destruction. Then, if a company’s retention requirements for document storage have been met, it is essential that the documents be destroyed in a secure manner.

The most secure way to dispose of documents is to shred them securely. To ensure compliance, businesses can hire a professional shredding service that can safely and securely destroy documents. This will ensure that all sensitive information is completely destroyed and there is no risk of it falling into the wrong hands.

By following the necessary laws and regulations for document disposal, businesses can ensure their documents are destroyed securely and that all sensitive data is kept safe.

Technology

Technology is integral to any information governance policy and plan. Document management software can be a great asset for companies that want to securely manage their important records.

These systems provide workflow automation solutions that can help streamline processes and ensure compliance with regulatory requirements. They also provide features such as document version control, storage and retrieval, and audit trails that help protect sensitive information and prevent unauthorized access.

Additionally, many document management software solutions offer advanced security features such as encryption, two-factor authentication, and access control to further protect data. By investing in the right document management software, companies can have peace of mind that their records are managed securely and efficiently.

How can organizations optimize information management processes?

There are a number of things organizations can do to optimize their information management processes:

1. Conduct a review of your existing processes and identify any areas that could be improved.
2. Consider investing in new technologies to support efficient and effective information management.
3. Ensure your staff is properly trained to use information management processes and tools.

Uniting your information governance and records management plan

Information governance is an essential part of any organization’s records management strategy. It is a strategic approach to the design and implementation of records management policies, processes, and systems. It involves setting up rules and guidelines for how records should be created, stored, shared, and managed.

This helps ensure that all records are secure, accurate, and accessible, and that the organization is compliant with the relevant laws and regulations. Information governance also helps organizations identify risks, such as data breaches and security threats, and create strategies to mitigate them.

Ultimately, information governance helps organizations protect their data and ensure it is safe, secure, and accessible. To be truly effective, information governance must be fully supported by the organization as a whole, as it affects every aspect of the business.

Are you looking for ways to stay competitive in the marketplace with an effective information governance plan? VRC can help you get started. To learn more, read our blog post, “Future-proofing Your Information Governance Program.”