What is information management?

What is Information Management?

‘The process by which a company manages all the elements of records whether externally or internally generated and in any format or media type, from their inception/receipt, all the way through to their disposal.’
Records Management Society

Background

With the proliferation of media and the surge of digital communication, information management has become an increasingly complex and important consideration for companies of all shapes and sizes.

At its heart of Information Management is an understanding and respect for the importance of Information as an asset to the company. Managed correctly and with proper systems, policies and procedures and it can gain a company a competitive advantage through improved efficiency and reduced operational costs, neglected and left to become a chaotic mess and it could result in inefficient business practice, reputational risk or fines and penalties.

What sort of Information should be managed?

Information Management typically involves a variety of different media and sources for example;

• Client files or client data
• New Product Development information
• Financial information
• HR or personnel files
• Estates or planning information
• Files/Data stored on local or remote computers
• Drawings/plans or maps
• X-rays
• Audio-visual media
• Confidential waste

What does Information Management involve?

Some of the main topics covered by Information Management include;

• Classification and coding of a company’s records
• Archiving and indexing information
• Developing retention schedules in line with policy
• Managing the lifecycle of the information so it is retained and destroyed correctly
• Database design and data structures
• Physical storage of both electronic (soft copy) and paper (hard copy)
• Information audits: reviews of an organisation’s information resources and policies
• Policies for the handling of sensitive materials both internally and externally

Because of the importance of Information Management, the discipline often overlaps with some other key areas within an organization including:

• Information Governance
• Corporate Governance
• Business Assurance
• Risk and Risk Management
• Business Continuity Management