An information strategy is not usually the first thing that founders and managers put in their business plans.  But it is essential at some point to take stock of the information that is moving throughout your organisation and to formulate a strategy that values it as the critical asset that it is.

Information is an asset

Every organisation has a set of tangible information assets that are vital to their operation.

These assets are the various information artefacts that are collected electronically or physically, such as forms, lists, word documents, spread sheets, pictures etc.

The less tangible but equally important information is all that data stored in employee’s heads, or written down on post-it notes and on their notepads.

Procedures and how-to, deep knowledge and experience with clients, suppliers and partners, even routine day-to-day information can create a void when, along with a departing employee, it leaves a company.

A solid information management strategy views data as the critical asset that it is. It will encompass:

• Storing tangible electronic assets
• Digitising physical hard copy assets
• Creating a repository and capturing the more intangible “knowledge” assets
• Providing a mechanism for garnering insights from data

Building a Strategy

Information strategies have two aspects; technical and human. Both need to be understood and accounted for.

The technical aspect involves making decisions around “what” and “how”. What platform to choose, what data goes where, what are the policies going to look like, what processes interact with the information, how will it all hang together?

The human aspect is all about “why”. The culture of the organisation needs to shift in order to adopt any new strategy. If the team doesn’t believe in it, they won’t adopt it.  It is vital to have your team’s buy in and to give them ownership of their piece of the information strategy.

Engaging a Technology Partner

Implementing and embedding an information strategy is a big job and requires an understanding of the available technology as well as business analysis and change management capability.

Evaluating all the options and attempting to make a huge change to the organisation’s culture – all while trying to conduct business as usual – tends to lead to inaction or worse, investing in a decision that is never taken up internally.  Partnering with an expert can give you a real edge and can fast-track the process.

For the full Whitepaper on the fundamentals of Information Management, email us at [email protected].  To discuss your information strategy with a consultant, give us a call on 1300 766 554.