With the volume and velocity of business information showing no signs of abating, it will be those businesses who understand the field and have a clearly defined strategy to get to the front who will manage information risk in a way that will allow them to realise the rewards of information well governed.
With front runners treating information risk and management as a boardroom issue, using multi-disciplinary teams to manage information and rolling out slick strategies for monitoring effectiveness – there is a lot to be learnt from those at the head of the pack. If you’re looking for a chance to catch-up, here are seven front-runner moves that can help you storm towards the finishing line.
Step 1 – Don’t make it IT only. Everyone should carry some responsibility for safeguarding information.
Step 2 – Take a reality check on risk. Conduct a risk assessment to find out where your most valuable or vulnerable information is and use the results to focus your efforts.
Step 3 – Set your information free for insight and innovation. Adopt a more holistic approach to extracting value from information by sharing it across the business to drive creativity, innovation and growth.
Step 4 – Engage your employees. Encourage a culture of respect for information and ensure all staff have the training and support they need to manage information responsibly and reduce risk.
Step 5 – Don’t forget the paper. Paper is still a major security risk for businesses so a structured approach to digital scanning and document storage is imperative.
Step 6 – Measure your measures. To ensure the policies and procedures you put in place achieve their objectives, they need to be assessed regularly.
Step 7 – Know what to do if it all goes wrong. From data recovery and business continuity plans, to crisis management and data breach reporting, how you handle and communicate in the aftermath of an incident could have you on the top step of the podium or falling at the first hurdle.
These steps are explained in the Information Risk Maturity Index reports from PwC.