EIG or Enterprise Information Governance is the process where the enterprise wide information security, integrity, usability, availability and quality is managed effectively. It is therefore not just collecting data quality projects ad hoc in order to manage the data of the enterprise.

A well structured and defined EIG program is capable of coordinating and aligning a company’s business strategy with its information assets. The program comprehensively contains apart from a strategy, a clear set of procedures and policies stipulated by the Information Governance which in turn is regulated by the Information Governance committee or council, a strategy to manage metadata, a business information model, and owning and managing information. All this is carried out through information stewards who are empowered. They ensure that these are implemented in a clear and crisp manner with a comprehensive structure for accountability.

Information stewards are the custodians and owners of enterprise information. As a first step in implementing a good EIG program, it is necessary to define the information stewards in a perfect manner.

Owner ship assignment is necessary to specify to parties responsible for their particular department responsibilities that include data updating, completion, consistency, accessibility and accuracy.

Development of procedures and standards in order to specify how authorized security personnel can access enterprise information based on need, security status and role and also defining data storage, disaster recovery, backup and archival processes in the most effective manner is the next important stage in the program.

A good audit procedure is very essential for monitoring compliances with regulatory bodies.

As an effective EIG program is set in motion, companies enjoy immense benefits such as -

• Increased business value and improves integrity of information. This is possible through achieving a broad perspective and a controlled data flow, which in turn helps in integration of various business models through a unique and flexible information structure. 

• Swift transformation and reconciliation of data from different systems is possible through formatting and coalescing into information that can be worked upon. 

• Implementation of a good governance structure and fine tuning the process for information asset considerably reduces administrative expenses. By streaming lining efforts in a comprehensive manner encompassing the whole enterprise rather than in small departments or divisions, it becomes easy to implement processes and reduce on time and therefore spending.   

• By reducing issues related to quality and proliferating data marts, reporting tools and resources through the enterprise reduces further on the cost. 

• Operations such as internal management analysis and customer reporting are fine tuned with enhancement of reliability of vital information assets.
• Information governance has the capacity of enhancing system integrity with a clear communication process in place. This eliminates the stress faced by downstream information users when there is a major revamp or changes made to the transactional systems or upstream source. 

• Improved operations means swift identification and resolution of data quality related issues, reconciliation of reports from different granularities and reconciliation of reports that are generated independently.