How to Measure the Return on Investment of Strong Information Governance Processes
In order to be effective, information governance must become part of a firm-wide culture of participation and collaboration.
July 26, 2015 at 08:35 PM
5 minute read
Information governance (IG) requires a firm-wide approach for managing and protecting client information. IG initiatives in law firms are driven by several factors, including client requirements, legal statutes related to confidentiality and data privacy and the costs associated with managing growing volumes of both structured and unstructured content. By taking a proactive approach and laying out the business case through the measurement of the return on investment of information governance, law firms realize significant savings, improve client service and minimize risk.
Determining Metrics
To help make a business case for an information governance program, it helps if law firms can define the ROI through hard dollar savings. A logical first step is to perform a benchmarking analysis to quantify the costs and efficiencies of a firm's current environment for managing information.
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