Turning INSIGHTS Into ACTION

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1 Turning INSIGHTS Into ACTION Sue Trombley, Managing Director, Thought Leadership, Iron Mountain February 20, Iron Mountain Incorporated. All rights reserved. Iron Mountain and the design of the mountain are registered trademarks of Iron Mountain Incorporated. All other trademarks and registered trademarks are the property of their respective owners.

2 Agenda Benchmark Findings Action #1: Adopt IG Action #2: Tackle RIM Change Agent Role Resources 2

3 Benchmarking: Cohasset and PwC Reports Cohasset/ARMA Information Governance Benchmarking Survey Report 1500 respondents PwC/Iron Mountain Risk Index Report for Mid-Market and Enterprise 1200 NA and Europe respondents 3

4 Have you experienced THE GAP? 4

Benchmark Report findings: A Call for Modernization IG programs are more prevalent, better designed, and inclusive of ESI. However, there are elements not addressed.

5 Benchmark Report findings: A Call for Modernization IG programs are more prevalent, better designed, and inclusive of ESI. However, there are elements not addressed. Effective IG is increasingly recognized as an imperative. IG must modernize its efforts to manage ESI or never catch up. Legal holds present major concerns due to over-preservation. 5

6 Information Risk findings: A Common Challenge 65.7% Combined Index Score 66.3% Europe 65.7% North America RISK AWARE Businesses have woken up to the need to manage risk. However, they are uncertain about what to do and remain ill-equipped to tackle the threat. Source PwC Information Risk Report 6

7 Your information is growing EXPONENTIALLY. It s in all formats and scattered across your organization making it difficult to find and even harder to manage.

8 Information Governance Challenges: Internal Internal Information Governance Challenges All information, Volume, Transition velocity, Keep not from just everything paper and records, variety to digital culture needs of information records to be managed 78% 75% of organizations have no defensible disposition practice 40% more information created in 2014 Of of businesses information see is ROT paper (redundant, as highest obsolete, information temporary) risk 67% 69% have no automated tools to destroy eligible information Social and mobile: 8.5 billion apps downloaded in 2015

9 Information Governance Challenges: Internal Internal Information Governance Challenges Each Data function Metrics protection Big data has are pressure its and missing own security concerns IT, Information LOBs, only Compliance, Breaches 8% used for are competitive RIM, measure on Legal, the rise compliance Data advantage Officer Potentially Access sold controls as an asset 9

10 Information External Governance Challenges: External Information Governance Challenges Regulations Audits continue to increase Retention rules EU and national regulatory bodies Privacy (EU Data Protection Regulation) Customers Security 10

11 Take Action #1: Encourage Adoption of Information Governance 11

12 Make the Transition to Information Governance Information Governance is the multi-disciplinary enterprise accountability framework that ensures the appropriate behavior in the valuation of information and the definition of the roles, policies, processes, and metrics required to manage the information lifecycle, including defensible disposition. Source: Information Governance Reference Model / 2012 / v3.0 / edrm.net RIM is a member of the IG Council, not the sole owner of the Program! 12

Lines of Business: How can we leverage the information in a meaningful way? Compliance / Audit: How can we ensure we meet regulatory requirements?

13 IG Council Members Points of View Everyone comes to the table with a different motivation! Records and Information Management: How can I ensure policy is consistently being practiced? Lines of Business: How can we leverage the information in a meaningful way? Compliance / Audit: How can we ensure we meet regulatory requirements? Security / Risk: What are the risks to our customers' privacy for keeping the information? Information Technology / Data Officer: Can we save cost by removing unnecessary files from servers? Can we keep everything for analysis? Legal: How long should we hold on to information to meet our legal requirements for discovery? 13

14 IG Engagement How to get stakeholders engaged? Change the conversation! Speak about information as an asset rather than just a liability. Shift from fear to value Use analytics Advocate smart risk 14

15 Take Action #2: Get Your RIM House in Order 15

16 RIM Insights: Commitment/Practice Gap of organizations claim to have a mature RIM program Yet, only 8% use metrics to inspect what they expect 17% conduct RIM compliance audits TAKE ACTION: Audit current policy and implementation results realistically and periodically. Create an action plan for improvement. Consider employing self-assessment risk controls to monitor business unit performance. 16

17 RIM Risk & Control Framework 17

18 RIM Insights: Employee Engagement Only 7% report employees are engaged in RIM Just 35% train employees every 1 to 2 years and 26% never train. TAKE ACTION: Create a scheduled certification program for employees that can be easily administered, such as elearning. Provide a take away upon completion for reinforcement. 18

19 RIM Insights: Retention Schedules of organizations have a Records Retention Schedule, yet respondents want: a more uniform Schedule (69%) fewer classes, series, or categories (51%) options for event-based rules (65%) TAKE ACTION: Schedule a refresh with emphasis on fewer classes and more timely updates to rules for ease of use. Create a task force to consider methods for managing event-based rules. 19

20 RIM Insights: Barriers to Disposition say keep everything culture is an impediment to efficient RIM 75% have no automated tools to destroy eligible information 37% cannot obtain approvals for destruction TAKE ACTION: COLLABORATE with stakeholders to make disposition decisions. Identify and document risks, excess spending, and productivity losses to cost justify automated tools. 20

21 RIM Insights: Legal Holds say they have a legal hold process, yet: Only 50% use automation 70% agree that more information than necessary is retained 30% indicate that holds aren t regularly or effectively terminated TAKE ACTION: Form strong bonds with your legal team. Explain how blanket holds lead to non-compliance and increased risk and cost. 21

22 RIM Insights: Modernize Management of ESI indicate they are in the planning process to improve the deletion of ESI. 60% state that there is no process for regularly scheduled deletion TAKE ACTION: Include oversight of ESI in IG strategy (all formats and locations) or risk being viewed as outdated or unrealistic in your approach. 22

23 RIM Insights: Lack of Planning in Application Development Only 13% of respondents indicate RIM involvement in IT decisions is mature, while just 39% say improvements are underway. TAKE ACTION: Form bonds with IT for involvement in technology systems acquisitions, implementations, redesign and decommissioning. 23

24 IG Insights: Cross Functional Governance report cross-functional governance structures are maturing or improving TAKE ACTION: Composition of IG Council should include members from various departments and functional areas, but not necessarily the seniormost executives. 24

25 Your Role as Change Agent 25

26 Making a Difference Creating policy is NOT ENOUGH. of companies report having formal policies in place, but report failure to secure enterprisewide adoption. 1Source: Iron Mountain Compliance Benchmark Report : A View into Unified Records Management 26

27 Change Agent: The Psychology Where do you focus to get the most out of your IG Program? Adopt the language of your audience speak to their concerns. Act as a consultant. Consider your organization s culture. Manage your identity and mission purposefully. It starts with A CONVERSATION. 27

28 Change Agent Success Factors 1 SPEAK WITH ONE VOICE. A consistent message that represents the needs of all stakeholders for the organization to follow. 2 KEEP IT SIMPLE. Start with small victories, build consensus and grow organically by demonstrating success. 3 KEEP IT FRESH. Suggest rotating IG members if organizational distractions effect commitment levels. 4 BUILD A GROUNDSWELL OF SUPPORT. Communicate benefits with examples. 28

29 5-100 BE PASSIONATE! 29

30 Complimentary Resources Practical Guide to Information Governance RIM Best Practices Manual Event-Based Retention Whitepaper PwC and IM Information Risk Whitepaper Cohasset/ARMA Benchmark report All industries Oil & Gas Healthcare Financial Services & Insurance Federal Government Law Firms 30

31 Thank you. Sue Trombley, MLIS, IGP Managing Director, Thought Leadership, Iron Mountain (617)

Information Governance: A new way of doing business? Or just a whole lot of hype?

Information Governance: A new way of doing business? Or just a whole lot of hype? ARMA Chattanooga 02/10/2015 2014 Iron Mountain Incorporated. All rights reserved. Iron Mountain and the design of the mountain