Gaining the green light

In today's world, where data breaches are often in the headlines and laws are constantly changing, organizations are finding themselves in a crucial spot where there's much at stake but also great possibilities. Information governance, which you may recognize as a critical topic in these discussions, is no longer just a background operation. For any organization looking to successfully navigate these challenging times, it has become a fundamental strategy.

Crafting a detailed and clear business case is vital for information governance professionals who are looking to kick off new initiatives in their area. In this article, Chris Hockey will be your guide to building a business case that resonates, and Chris Giles will help you to understand the process and how to communicate its value to get the buy-in and resources necessary from stakeholders.

The basics

“Discussing a ‘business case’ means delving into the rationale for initiating new projects or ventures,” explains Chris Hockey. “It resembles arguing in court,” he continues, “where your audience is not a jury but your organization’s leaders, whom you must persuade of your plan’s investment worthiness. Why should they care? What's in it for them and the organization? How much will it cost, and what are the benefits? This covers not only the financial impact but also a narrative that resonates with your organization’s goals, addressing key stakeholder concerns like enhancing efficiency, compliance with regulations, and protecting client privacy”. Hockey goes on to describe the following steps to formulating a credible argument for an information governance strategy:

The strategic blueprint: Aligning information governance with organisational vision

Amidst the complexities of daily operations, your strategic plan serves as your guiding North Star. Your department’s strategic plan does more than list daily tasks; it aligns every decision and project with your organization's overarching goals.

Integrating your information management strategy as a core element of your broader mission and vision is crucial and should not be an afterthought. This ensures that each step in your information governance plan significantly advances towards your organization's ultimate goals.

Foundational role of the strategic plan

A strategic plan is crucial when navigating the complex field of information governance. Lacking such a plan, developing a business case turns into aimless wandering. A strategic plan serves as your point of reference, helping to discern whether an initiative is a short-term fix or a substantial step towards your organization’s broader goals. For instance, consider whether investing in the latest technology will significantly advance your organization's digital transformation. Alternatively, assess if modifying your services will provide a competitive advantage in achieving compliance objectives. These decisions require direction that only a well-thought-out strategic plan can provide.

Long-term goals as a beacon for business cases

A strategic plan can’t be a mere formality. It makes sure that every project you pitch is not just a short-term fix but a building block for your organization’s future. This plan lights the way, ensuring that your proposals are always moving you forward, rather than merely responding to the latest fire drill.

Embedding strategic planning in information governance

For those immersed in information governance, consider the strategic plan as your essential guide. It concerns both your final goals and the core values that guide your team through challenges such as managing large amounts of data, complying with regulations, and handling the influx of information. In this way, a business case becomes more than a singular event; it integrates into the regular part of how your department tells its story and plans for success.

Strategic plan fundamentals

A strategic plan is an essential component of effective information governance. It informs the creation of business cases, ensuring that every initiative undertaken is strategically sound and contributes to the achievement of both departmental and organizational aspirations. As an information governance professional looking to craft a business case, the strategic plan will be your guide, making sure that each step taken is purposeful and progress-oriented.

A mission statement for your information governance department acts as its declaration of purpose—defining the 'why' behind each action and decision, providing a clear direction. The vision, by contrast, is the 'what'—the dream of what you're aiming for, the beacon you're chasing on the horizon.
Setting concrete, measurable goals takes the abstract ideas of your mission and vision and turns them into a checklist of achievements. These goals are the benchmarks that the information governance department aims to hit, lining up with the broader goals of the organization. Imagine setting a goal to boost the quality of your data or to meet compliance targets within a certain period. This is how you contribute to your organization's efficiency and tighten up risk management.
A SWOT analysis takes a magnifying glass to your strategic plan. It's essential for any information governance strategy to have a good hard look at what you're great at (strengths) and where you could improve (weaknesses). Then you need to scan the horizon for opportunities to grow and threats that could trip you up. This deep dive helps you grasp where your department stands and what kind of business landscape you're dealing with, laying down a solid base for smart decision-making.

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Action plans map the route from your current position to your desired outcome. They encompass both the final goal and the journey there, detailing what actions to take, what resources are required, the time frame, and the indicators of success. Action plans breathe life into your strategy, morphing lofty goals into tangible results through careful planning and action.
When you stitch together the classic pieces of a strategic plan—mission, vision, goals, SWOT analysis, and action plans—you get a full-blown roadmap for your information governance department. By weaving these elements into your department's daily efforts and aligning them with the big-picture strategy, your strategic plan evolves into an active dynamic blueprint that drives your department forward.

Essential rationales for information governance business cases

When you're making a case for information governance, it all boils down to two big things: money and risk. Getting a grip on these and being able to talk about them is key if you want to get the green light from the people holding the purse strings — those who care a lot about profits and keeping trouble at bay.

Financial rationale: The dollars and sense of it all

Cost savings: Imagine if organizing your organization's records was as smooth as a well-oiled machine. Information governance can cut costs by optimizing data storage and eliminating obsolete systems, allowing for the reallocation of resources to initiatives that meaningfully propel progress.

Efficiencies: But there's more to it than saving money. Streamlining your information not only tidies things up but also speeds up your team. This means rapid access to information, quicker responses, and less time waiting on loading screens. This equips your team with the tools they need to efficiently complete their tasks without being hindered by disorganized data.

Revenue generation: Now, let's shift from cost-cutting to revenue-generating. A robust information governance system not only mitigates expenses; it paves the way for new sources of income for your firm. How? By leveraging clean, organized data to offer new client services or to improve existing ones, making your organization the go-to spot for clients who appreciate efficiency and innovation.

Risk rationale: Playing It safe with information governance

Legal risks: Handling information comes with significant risks; a mishap could result in more than embarrassment—it might also trigger severe legal complications. Information governance guides you through the complexities of legal requirements, keeping your organization on the right side of the law and out of the hot seat.

Operational risks: It's not all about the law, though. Operational hiccups can slow your organization down or even grind things to a halt. Good information governance means having solid plans and processes in place so that when things go sideways, you're ready to handle it without missing a beat. This resilience is what keeps the firm running smoothly, rain or shine.

Risk avoidance: Steering clear of stormy seas

Dodging compliance slip-ups is key. Effective information governance helps to spot potential legal issues. Proactive information governance aids in identifying potential legal challenges early. By spotting these issues before they blow up, you can navigate safely, keeping costly legal battles and fines just a blip on the radar.

Risk mitigation: When you can't avoid, you adapt

Sometimes, no matter how sharp your radar is, a storm hits. That's where risk mitigation comes into play. It's your plan B, your safety net. With information governance, you've got the procedures and policies in place to minimize damage.

Interconnection of financial and risk rationales

Here's the thing says Hockey: “Money matters and risk management are two sides of the same coin. When you shave off expenses and get your team moving through tasks efficiently, your organization becomes nimble—ready to jump over hurdles or dodge them altogether. And on the flip side, by excelling at handling risks, you're doing more than sidestepping pitfalls; you're also protecting your wallet from taking a hit from fines or breaches.”

He concludes that “the financial and risk elements should not be considered trivial, but the bedrock of your information governance business case. Demonstrating how your strategy saves money, increases efficiency, generates revenue, avoids legal issues, and mitigates unexpected challenges goes beyond proposing a project; it showcases information governance as a strategic asset vital for protecting your firm’s financial interests and reputation.”

Identifying the business problem

Start by highlighting the central challenge, framing it as an imperative issue that the organization must confront directly. Take, for instance, the scenario where your case management software is outdated to the point of obsolescence, posing not merely a problem of sluggish performance but a significant threat to the security of client data. You've got to paint a vivid picture of these pain points, linking them to the real impact they have on the day-to-day.

Conducting assessments

After zeroing in on the problem, it's time for some detective work. If we're talking legal info governance, think about sizing up your current data practices against the latest regulations, like GDPR. You want to measure the gap between where you are and where you need to be. It's about highlighting shortcomings so clearly that everyone feels the need to jump into action.

Identifying alternative solutions

Once you know what you're up against, it's time to lay out your battle plans. This is about more than implementing a hasty fix; it involves evaluating various options, assessing the advantages and disadvantages, and demonstrating thorough preparation. The goal is to propose a solution that is not only effective but also the most strategic choice for the organization.

Narrative cost/benefit analysis

Dive into the heart of the business case, where numbers meet narrative. It's all about painting a bigger picture that transcends the data of spreadsheets. This analysis goes beyond simple bean-counting; it narrates how your initiative will streamline the organization's operations, reduce risks, and unlock new opportunities for revenue generation and client engagement.

Recommending the preferred solution

Now, we want to present our hero—the recommended solution. This is your stage to shine, to persuade the powers-that-be why this path isn't just good, but gold. It's the sweet spot where costs are weighed against benefits, matching up neatly with the organization's grand plans and how much risk they’re willing to take. You're not just selling a fix; you're selling a future.

Describing the implementation approach

“Every good story needs a solid ending,” says Giles “and your business case is no different. The final act? The implementation approach. It's a glimpse into the crystal ball, sketching out the steps that will bring the plan to life. This is a blueprint for action, a series of deliberate steps that say, 'Here’s how we get from dream to done.'”

Illustrative business case examples in information governance

Let's look at some real common scenarios that IG professionals are often trying to make a mark:

Business case for new service offerings and/or staffing

Picture this: Envision a forward-thinking law firm recognizing the goldmine within an Information Governance (IG) department. Our new digital age demands not just compliance but strategic data mastery, and this is where the law firm can truly shine. However, the catch is they lack the specialized talent to navigate the complexities of data regulation and analytics.

Here's the pitch: Picture these new hires as a team that transforms the firm into a fortress of data security. This is about planting seeds for growth that’ll bloom into a whole new kind of revenue. It’s about the firm making a name for itself as the go-to place for top-tier data protection and governance. In the long run, we’re leading the charge and setting the standard in the legal field’s digital frontier.

Business case for replacing existing technology

Imagine you're dealing with technology that's so last era it might as well belong in a museum. It's clunky, it's a security hazard, and let's be honest, it's just embarrassing.

The lowdown: The business case shines a spotlight on the tech overhaul as a non-negotiable upgrade. It's all about showing how new tech is a must-have for staying competitive. Plus, it's about playing it safe with client info and keeping your firm out of the data breach headlines. It's a win-win: safeguarding the firm's reputation and giving the team the tools they need to do their best work.

Business case for changing direction on a technology purchase decision

Imagine this: You're halfway to buying a new piece of software to manage your firm's information when you stumble upon a new, even better solution, shaking up your whole plan.

Here's the scoop: This is where you craft a tale of choice and change. You've got to lay out a side-by-side showdown of the old pick and the new contender, spotlighting the gains and the smarts of switching gears. This is about showing that this new direction is a strategic slam dunk. It's about convincing the team that, yes, there might be a bit of backtracking, but the end game is software that fits the firm's needs like a glove, making every future move smoother and sharper.

Business case for new technology purchase

Situation: Our law firm is at a pivotal moment where staying ahead means embracing new technology. The current system is limited and doesn’t meet the evolving needs for sophisticated data management. There’s an urgent requirement for an advanced Records Management System (RMS) that can enhance our data handling capabilities, ensuring better organization, retrieval, and analysis of the vast amount of information we manage.

Business case focus: This RMS is pivotal to our firm's strategic development. It's about investing in a system that not only improves our current operations but also positions us for future growth. With this technology, we aim to boost our service offerings, enhance productivity, and ensure rigorous compliance with data governance standards. This is a forward-thinking move that will yield significant returns in efficiency and client satisfaction.

Wrapping up: The unique stitch in every case

Each information governance (IG) business case is customized to meet the firm's specific challenges and objectives. However, they all share one essential goal: to articulate the benefits clearly and compellingly. These benefits should align with the firm's financial goals and risk management strategies. Present your business case effectively, and you will gain approval for your project while adding significant value to the firm.

The final checklist: Your IG roadmap

After thoroughly exploring the business case process, you're equipped with a valuable tool: a checklist that guides you through the complexities of making a business case for information governance. Here's your strategy for proceeding:

Pinpoint the Problem: Don't just say there's a leak; show where the water's pouring in and how it's making the boat wobble. Tie it to the captain's goals—make it matter.

Gap Analysis with Style: Use the tools of the trade to measure the distance from where you are to where you need to be. Make it precise.

Options on parade: Rather than proposing solutions haphazardly, present a selection of well-considered strategies, each informed by legal expertise.

Narrative with numbers: Tell a tale in your cost/benefit breakdown that goes beyond today, stretching into a future where the firm reaps the rewards.

Champion your choice: Present your recommended approach as an optimal solution that is fully aligned with the firm's vision and clearly outlines the associated risks and rewards.

Blueprint for action: Chart out the journey from dream to reality with a timeline and a game plan for the curveballs and naysayers.

Conclusion

“Building a business case requires a combination of creativity and analytical precision, particularly in the legal field where information governance is integral to maintaining the firm's reputation for trustworthiness, confidentiality, and intellectual rigor,” concludes Giles.

“By following a structured process and adhering to a comprehensive checklist, you will be prepared to develop business cases that not only enhance the firm's daily operations but also advance its strategic goals in information governance over the long term.”

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Developing an IG business case and strategic plan

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