Assured Legal, Privacy, Regulatory Compliance.
360 Managed View of Customers, Partners, & Product Services.
Streamlined, Financially Efficient Data Operations.
Data and Information Risk Mitigation.
Businesses serious about succeeding in the modern digital environment are fully aware that data is their most valuable asset. They understand that data resources have to be diligently managed and governed to grow market share, increase revenue, attain greater profitability, and protect the business from reputational and other forms of harm.
The rapid accumulation of data within organizations has increased the amount of personal information being collected about customers, partners, and other individuals that engaged with the business. Regulators and lawmakers are mandating businesses to implement the necessary controls to ensure privacy of those individuals upon which data is collected to be protected. They require businesses to prove compliance with legal, regulatory, financial, privacy, and other forms of obligations through regular auditable reporting to the respective governing body.
Personal privacy related legislation such as the European Union's GDPR, California's Consumer Privacy Act (CCPA), and Canada's Personal Information Protection and Electronic Documents Act (PIPEDA) require businesses to have a clear understanding of its operations involved in the collection, storage, and sharing of personal information.
Businesses are required to prove their compliance with legislation and regulatory mandates, and to promptly inform the appropriate governing body of any breaches. Failure to do so carries significant financial penalties, and potentially irrecoverable reputational damage with customers and partners.
A priority for all businesses is to maximize shareholder value. This is achieved through increasing revenue and reducing operational costs. Corporate capabilities in streamlining data management and information services has a direct impact upon the business's financial bottom-line. Data governance policies, processes, and practices are implemented to extract maximum value from corporate data assets, while protecting the organization against data management and information services related risks.
Data governance success relies upon orchestrated collaboration from the highest levels of management, to front-line personal. It requires on-going transparency through efficient top-down as well as bottom-up communication between all stakeholders.
Data governance policies impose the rules and controls for stewarding the organization’s data assets. They are created and enforced through a cross-functional team of business and technology executives who together make up the organization's Data Council.
The policies are implemented by senior management through business processes and technology solutions in accordance with the Data Council's directives. Senior management is responsible for measuring and reporting the organization's compliance with its data governance policies. The reported results are assessed by the Data Council, who in turn assess any potential future action required to improve the organization's data governance capabilities.
It's essential for everyone engaged in the execution of data governance practices to clearly understand their specific role and responsibilities in governing the business's data assets. They have to be clearly articulated and communicated to all stakeholders.
Collaboration technologies such as Microsoft SharePoint are pivotal in assuring sound communication between stakeholders in both rolling-out and executing data governance practices across the organization. They provide a centralized means of publishing and sharing data governance policies, processes, and standards.
Collaboration tools are also employed in reporting statistical data governance measures for executive and senior management action via the technology's inherently implemented business workflows. Providing an efficient feedback mechanism for promoting on-going improvements to the organization’s data governance capabilities.