Information governance (IG) is a business priority—and the number one concern of clients for three years running. Among its core objectives, IG seeks to improve the availability and security of information. Law firms that implement IG can improve client service by making it easier for busy lawyers to find needed information, and by assuring clients that their sensitive, confidential, proprietary or highly regulated information is safe within the firms’ systems.
IG seeks to treat an organization’s information as a critical business asset, requiring the firm to effectively address the organization’s legal obligations, operational requirements and risks.
Additionally, IG can have positive impact on the organization’s larger business concerns, acting as a catalyst for cost savings and enhanced productivity and for the innovative change that can lead to competitive distinctiveness. IG can result in reduced cost related to storage, more efficient access to information, better engineered processes requiring less support and more effective compliance with legal requirements.
Forrest Solutions works carefully to understand firms’ information governance profiles and tailor solutions that fit their specific needs, risk tolerances, and regulatory and industry footprints. Clients trust us to help them navigate changing information governance paradigms, reducing risk and cost and positioning them for success.
IG is about improving information value to an organization while reducing risk and cost.
Retaining electronic files indefinitely leads to the challenge of wading through a bottomless pit of data – searches take longer and result in inaccurate hits. Retaining paper documents beyond what is required can also lead to damaging information brought to light during future discovery. In both cases, without a robust IG policy, the value of these information assets can be lost.