What is Information Management?

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Having a well-defined information management plan, best practices, and technologies has become a requirement. The aim is to help more perceptive decision-making and create meaning.

Organizations that cannot properly use their most precious assets risk major failure.

We live in an age of information, which comes in all shapes and sizes and is becoming increasingly unmanageable.

In this article, we’ll go over the definition of information management (enterprise information management), its importance, benefits, and the significance of creating company-wide linked methods.

Additionally, we will go through the top three barriers to keeping information safe and well-managed.

Information Management
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What is Information Management?

By definition, Information management (IM) is a set of practices that involve the acquisition of data from one or additional sources. Followed by the distribution of that information to people who want it, and its final disposition through archiving or deletion.

Enterprise information management is the application of typical management techniques like planning, organizing, directing, and controlling to collect information. It’s communicated and processed to enable those with organizational roles or functions to make faster and more informed decisions.

Data, records, infrastructure, information systems, business processes, and most significantly PEOPLE are all part of the business information management lifecycle.

Organizations should be capable of managing electronic and physical data throughout their lifecycle. The ultimate purpose is to deliver information to designated stakeholders at the right time, regardless of format (paper, electronic, audio, video, etc.) through various channels such as web portals, smartphones, tablets, utilities, and so on.

This can be a difficult process. It encompasses many areas, including information governance, meta data management, information security, records management, data management, and information access and usage management.

Since IM (enterprise information management) is a company’s duty, it should be viewed not only by the highest levels of management but also by staff at all levels.

In the end, Information is not just the lifeblood of companies and the glue that holds human relationships and processes together; it is also a commodity in today’s and tomorrow’s economies.

The goal of information management is to plan, create, handle, and use information with insight and innovation. Enable decision-making and add value to people, organisations, cultures, and societies.

Information Management History

Historically IM was bounded to files and the lifecycle of paper-primarily based files, alternative media, and records.

With the introduction of computers in organizations, storage began to shift to electronic means. Having said that, IT departments began to handle and monitor information in organizations based on storage space. IT developed digital folder structures to reflect divisions and different business units.

With the explosion of data generation, data lifecycle management became more complicated, and businesses relied on various mediums to organize their documents. Digital folder structure, email, and portal digital storage were used together each holding a portion of the information that may or may not be up to date.

The result is a very insecure situation leaving your documents prone to loss, unauthorized access, theft, and destruction.

As technology advanced, software companies began to implement data management technology to aid in the capture, input, classification, and actual management (business process management, records management, content management, collaboration, and so on) of information, as well as its storage and output.

Why Is Information Management Important?

Today’s business world is rife with fearless competitors. One of the most significant differences between a successful and a failed business is that the latter is better at comprehending and using information.

Effective information processing can assist companies in overcoming obstacles, improving corporate operations, and meeting the demands of employees and clients.

By linking individuals, processes, and technology, effective companies will unlock the full value of their data. Effective enterprises recognize that only through translating collected information into knowledge will they respond proactively in the face of risks and uncertainties.

Information Management

The majority of companies in the Middle East, especially in the construction sector, do not place a high priority on the information management lifecycle.

In reality, it is one of the primary reasons why projects are constantly postponed and sales plummet. However, this is rapidly evolving, especially in the aftermath of the COVID19 pandemic.

The pandemic has driven companies to intensify their digital transformation strategies. Companies have learned, based on my experience, that information technology management is a vital digital transformation enabler.

That is why there is such a strong emphasis on embracing and integrating enterprise content management, which is, in my view, the most important aspect of any digital transition.

We will only start automating processes, using data mining tools to review stored data, and getting deep insights into the organization’s activity after we’ve made the transition from paper-based records to digital.

Information Management Challenges

Many information management challenges and concerns confront organizations.

Let’s take a look at the most major challenges.

Digitizing, automating, and integrating processes

Any company must undergo digital transformation and it is now imperative to incorporate digital technologies into all divisions in order to radically alter how they do business.

Apart from having the right information management plan, organization-wide strategy, and change management vision, having the right tool that can help organizations digitize their data and reach high levels of ROI is the most critical consideration for the success of transitioning to digital.

If a company invests in an enterprise content management solution that allows for simple and quick data collection, batch processing, rapid document retrieval, and a strong security model, it can open up a whole new world of possibilities for using this knowledge to make smarter decisions.

But it is just one side of the story; when companies continue to digitize their content, the next step is to change how their workers operate by reengineering and visiting each process and trying to simplify it. Improving and automating a process can be difficult at times since we must often identify bottlenecks and challenge all moves, but the end product is well worth the effort.

Look for ECM solutions that have a robust BPM module (low code model) that allows business experts to model workflows and simplify data collection (HTML Forms).

Feel free to read these two detailed guides to learn how these two approaches can assist with enterprise data management, records information management, data and business information management, and data lifecycle management.

  1. What is Enterprise Content Management?
  2. BPMS: Do You Really Need It? This Will Help You Decide!

Information Lifecycle Management

As previously discussed, information lifecycle management has become increasingly difficult in recent years, especially as the amount of data generated has increased.

Organizations must develop best practices to ensure that knowledge flows seamlessly across their lifecycle, as well as choose the appropriate tool from the market to ensure that each step is completed efficiently.

Securing Information

Many businesses now have no alternative but to comply with the GDPR rules, which were recently implemented.

Organizations must have a clearly defined process in place to handle this information, including knowing precisely what to retain and for how long, as well as ensuring that only approved employees have access to it.

Multiple Systems Within Organizations

Did you know 52% of organizations have 3 or more ECM/DM/RM systems, and 22% have 5+ systems.

This poses a significant challenge in terms of where employees can look for information. In addition to security, integration, and data recovery, these systems must be maintained.

Little Integration Between Information Systems

As an enterprise deals with various systems, it is important for them to collaborate with one another in order to assist with overall information Lifecyle management.

Legacy Systems & Replacement

Outdated organization information system can hold it back. Using an old system will surely have a big impact on productivity and how to do the job better and faster.

As technologies evolve, new systems or features are being introduced to aid organizations with their information lifecycle. It is extremely important to start planning for a replacement for older systems.

information technology management for business is a process to align technologies with the overall business vision.

If the enterprise is now unable to replace older systems, it can at the very least have integration capabilities with newer ones.

Poor Quality Of Information

Organizations should not manage any of the information they produce or collect. A quality control check should be performed to determine what should be retained or used as part of the information lifecycle.

Enterprise data quality should be maintained at a high level to ensure that managers are dealing on the right information and not making strategic choices based on incorrect information, which may have disastrous consequences.

Low User Adoption of Systems

And if a company has the right information management programs in operation, if workers are not relying on them in their everyday activities and their information lifecycle. It would not assist them in getting the most out of their most valuable commodity.

It is critical and difficult to always emphasize the importance and demonstrate to staff how these programs can help them complete their jobs more quickly.

Information Management Future

The future of business information management is promising, but it is not without challenges.

New data sources are being developed as technology advances. Data can be obtained from almost any piece of hardware that is connected to the internet using the Internet of Things (IoT).

This will push policies and tools to adapt in order to meet the emerging problems that companies face when it comes to information management.

Information will often be the most valuable asset for companies, and organizations must learn how to efficiently handle it.

What is Information Management?

Information management (IM) refers to a set of processes that involve the collection of data from one or more sources. Following that, the information is sent to those who require it, and it is finally disposed of by archiving or deletion.

Why Is Information Management Important?

Effective information processing can assist companies in overcoming obstacles, improving corporate operations, and meeting the demands of employees and clients.

Information Management Challenges

  • Digitizing, automating, and integrating processes
  • Information Lifecycle Management
  • Securing Information
  • Multiple Systems Within Organizations
  • Little Integration Between Information Systems
  • Legacy Systems & Replacement
  • Poor Quality Of Information
  • Low User Adoption of Systems

3 comments

  1. Thank you for the article. All of the above is easier to accomplish if the organization has an up-to-date retention schedule. Unfortunately, many companies do not update their retention schedule very often. Next, would come a file plan that is understood so everyone knows how long this data will retained based on the retention schedule no matter the format.

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