Although the concept of IT governance may seem a little intimidating for the average person, it is a necessary component of any organizational plan to ensure that IT investments are actively supporting business objectives. At a base level, IT governance is best viewed as a structure that aligns IT strategy with business strategy within a company to produce measurable results that work towards achieving established goals. The rise in formal IT governance practices in the United States was fueled throughout the 1990s and early 2000s as a result of the widespread corporate fraud and deception cases that were taking place; however, there are many other great reasons for an organization to invest in their own IT governance strategies.
1. Management Can Control and Direct IT Initiatives
One of the biggest benefits of an IT governance plan is that it allows management to more easily organize, control and direct IT initiatives to put the best resources available towards a current business goal or objective. This integrative approach further adds value to the existing IT team because management can have a clearer vision of the core functions that their IT department is there for. For a department that can feel undervalued in many organizations, this is a great way for members of the C-suite to integrate IT into the organization as a whole.
2. Data Is a Businesses Best Resource
Businesses are extracting countless amounts of data each day; however, it often has to be refined to be used by a business to achieve its goals. One of the best ways to ensure all of that raw data is being extracted and analyzed appropriately is by having a well-defined IT governance strategy in place. If a business does not already have an IT governance plan in place to address this, they could be missing out on free insights into their customers’ needs and the best ways to serve them. That consideration alone should make IT governance worthwhile.
3. IT Improves Security and Compliance
Data privacy laws have become increasingly more important worldwide in recent years – particularly with California’s CCPA and the EU’s GDPR. These legal concerns paired with the never-ending threat of a cyberattack have made it critical for businesses of all sizes to ensure their IT department is efficiently and successfully defending internal systems and data from invisible threats. Bad IT governance can help make it difficult for security experts or software systems to spot threats before they become a much larger problem.
4. Expectations and Responsibilities are Defined
Organizations in both public and private sectors need a way to ensure their IT department is not only meeting expectations but actively fulfilling their responsibilities to meet organizational and departmental objectives. A formal IT governance program should be a priority for any organization that wants to comply with regulations that address financial and technological accountability. While it may not be feasible for a small entity to have a full-fledged IT governance program, organizations that are heavily regulated should ensure they are exceeding requirements.
5. Regulations and Rules are Constantly Evolving
As digital communications and other data-driven decisions take the forefront in both business and the human experience as a whole, it is not unreasonable to think that regulations and rules will become increasingly stricter. Having an IT governance plan in place can help ensure an organization has the framework in place to adapt quickly and continue to remain compliant. When implemented as an afterthought, it could cause costly mistakes that carry stiff penalties for the organization.
Not Sure Where to Start?
Contact us to request a technology assessment to see where your organization stands. Excipio Consulting can help you understand where you are currently at and identify how to meet the requirements needed to successfully serve your customers with modern technologies and improve your overall cybersecurity strategy to preserve and protect sensitive patient data.