Corporate governance has become a priority in the aftermath of scandals such as Enron and Worldcom, highlighting the consequences of accounting irregularities and a lack of transparency, processes and controls within an organisation. The need to create measures or a means of managing information in a logical way, allowing for risk management, easy accessibility, retrieval and retention of information has been driven by regulations such as Sarbanes-Oxley, Basel II and the locally drafted guideline, King II.
Compliance requirements have seen the birth of new methodologies, processes and technologies such as information lifecycle management (ILM), aiding companies to understand the value of information and the management thereof.
ILM is an holistic process or management practice of smart content, process and resource management, providing proactive information management. ILM provides true value when striving for compliance and improved corporate governance.
The role of information has grown and will continue to do so, yet this gives rise to the critical issue of how we manage and protect these assets. ILM enables organisations to obtain maximum value from information at every point in the information lifecycle.
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