Information Is Currency

By Jeffrey Lewis posted 07-18-2012 08:33


If you follow me on Twitter, which you probably don't since I don't even need all my toes and fingers to count me follower you know my twitter handle is info_currency which is another way of saying information currency. 

When we typically think of currency we think of money, time, hardware and anything that if invested in wisely produces a net profit.  For most organization information is one of the most under uitilized forms of currency they have.  I like how the plan/implement section of the CIP study guide states that "information assets are corporate assets" and "information the organization needs to keep is managed and retained corporately. "  Remove the word "information" in both quotes and an outsider would think you are talking about money.

Information is a companies prime asset.  Information is what dictates the decisions about other assets to forecast what the return on investment will be for the company. 

Records managers always talk about risk and the financial risk of not being in compliance or unable to provide records in an e-discovery case is huge. 

Without proper information management there is no efficient way to automate business processes thus creating a huge drain pipe of money. 

As the old saying goes, "disk space is cheap" but just beucase it is cheap you don't want to overspend on it because you didn't manage your information properly. 

Happy employees are productive ones which is way companies need to not be afraid of telecommuting and BYOD. 

Two heads are better then one which is why collaboration can be a revenue booster because of more ideas converging. 

Without the proper information requirements can not be properly addressed and a project can quickly exceed scope and go over budget. 

I am only scratching the surface here and have not even touched on the case savings of leveraging information resources such as cloud computing. 

If the bottom line is the dollar sign then the backbone which keeps that bottom line from topping out is information. 

#ElectronicRecordsManagement #BusinessProcessManagement #Collaboration #informationmanagement #InformationGovernance #costsavings #returnoninvestment