Enterprise IT governance is a corporate responsibility. Moreover, when done effectively, IT governance can minimize security risks, ensure proper legal compliance, and keep organizations competitive.
Over 90% of senior business leaders identify strong IT governance as a leading factor in positive business outcomes and overall agility. In this post, we’ll highlight the importance of modernizing IT governance to ensure legal compliance in a quickly evolving legal landscape and to drive your competitive advantage.
What is IT Governance?
It refers to the process of governing the information assets that comprise an organization—including data and the systems that process that data. IT governance is a framework that helps align an organization’s IT and business strategies. Many enterprises even choose to build governance, risk, and compliance (GRC) practices into their IT governance protocol for added security.
A study by NMSU defined three key objectives for creating an effective enterprise IT governance plan:
- Optimizing the use of organizational IT resources, while also lowering risks.
- Prioritizing accuracy across data used in daily business functions.
- Ensuring data security—enterprise data is at risk 24/7!
Regardless of the size of the business, all enterprises should see information as a vital resource. Enterprises need governance to ensure that IT functions reflect the organization’s overall objectives.
Why IT Governance Is Important
The sheer amount of data poses a great risk to enterprises and their stakeholders. The possibility of data loss grows daily as data is continually created and shared via social networks, file-sharing devices, and personal mobile devices.
As organizations undergo digital transformation, IT departments are introducing new technology and data assets into their ecosystems. This, combined with an extension of services to the cloud and mobile devices, can pose new security threats to an IT department.
Government regulations must evolve to keep up with changes in the industry and ensure policies align with new technologies. Enterprises may also struggle to keep up with changing regulations, leading to fines from non-compliance lurking in their ecosystem.
A 2017 survey by ISACA found that only 55% of employees think their employers are doing everything they can to safeguard the organization’s digital data assets. Only one in three enterprises said they assessed their IT risk on a monthly or more frequent basis, despite agreeing cyber attacks pose a heightened risk. It’s clear that enterprises need to prioritize establishing and updating their IT governance processes to properly protect their most valuable assets.
How to Modernize Your Enterprise’s IT Governance
Even enterprises with existing IT governance in place can struggle to keep up with constant changes to their infrastructure, data assets, and government compliance. Enterprises that want to stay competitive and minimize their risk must look to modernize their IT governance policies with these proven steps.
1. Create a Governance Committee
Historically, enterprises have struggled to bridge the gap between IT and business leadership. Digital transformation is propelling the modernization of work practices to keep up with new technologies. Enterprises need to align their business and IT functions for a holistic approach to governance.
To achieve this, organizations should create a governance committee to oversee compliance across the entire enterprise. Governance committees oversee the IT roadmap and determine its impact on the organization. They look holistically at the dependencies between IT components and how they relate to one another.
Governance committees are also responsible for enforcing cybersecurity measures and adhering to GDPR and other local and federal regulations. An effective governance committee should have complete visibility over your IT infrastructure so they can expose any potential risks.
2. Ensure Employee Training and Education
It’s not just the governance committee’s responsibility to ensure enterprise IT compliance. Employees are spending increasing amounts of time on personal devices including mobile phones, tablets, and smart watches. As employees use these devices to interact on social networking sites or use file-sharing services, enterprises must heighten their security.
As a way to hold employees accountable, enterprises should educate them on their policies. A 2018 survey by IDG found that 60% of IT leaders failed to properly document and/or communicate their IT processes. As enterprises prioritize modernizing their IT governance process, they should value transparent communication with employees and other stakeholders
3. Ensure Cloud-Based Compliance
There are many laws and regulations in place to ensure data privacy at the enterprise-level. These regulations ensure that data is properly protected, data breaches are handled swiftly and effectively, and breaches are quickly reported to all affected parties.
Keeping up with compliance can be costly, but the cost of non-compliance can be even harder on an enterprise. A report by the Ponemon Institute found that non-compliance fines end up costing an enterprise 2.71 more than the cost of compliance.
To avoid hefty fines, enterprises need a quick way to identify and remove non-compliance in their code. By leveraging a fully-automated code level compliance tool like Kompliance Studio, organizations can quickly reduce the risk of non-compliant IT assets and avoid excessive penalties and lawsuits.
4. Identify Code-Level Risk with Application Dependency Mapping
Enterprises need complete visibility across their entire ecosystem to ensure IT governance protocols are being met. The best way organizations can achieve full-stack visibility is with application dependency mapping.
Application dependency mapping is used as a discovery and analysis tool to map all components and dependencies within an organization’s IT infrastructure. Until recently, IT relied on manual mapping processes that were inefficient and often very costly to maintain.
As enterprises look to modernize their IT governance, they need an automated in-depth solution for full-stack visualization. Rapidé is the industry’s first agentless Application Dependency Mapping (ADM) platform that uses smart APIs to eliminate the need for manual work and minimize human error.
Agentless ADMs use powerful algorithms to automatically map an enterprise’s entire ecosystem and create a dependency map at code-level. Code dependency mapping can play a critical role in securing an IT infrastructure and alerting enterprises to vulnerabilities in their code, and the best way to correct them.
Effective IT Governance Requires Dynamic Solutions
As digital transformation continues to drive technology forward, enterprise IT governance will also need to evolve. Enterprises should adopt a dynamic approach to governance and equip themselves with automated digital solutions that support their IT governance plans.
Find out more about how KloudGaze can help assess your code-level risk by requesting a
free trial of our platform. If you have questions on how KloudGaze can help your IT governance ensure compliance, contact us here.
Enterprise IT governance is a corporate responsibility. Learn actionable ways organizations can modernize their IT governance to reduce risk, ensure compliance, and remain competitive.
Social Media Share Text:
Enterprise IT governance is a corporate responsibility. Modernize your IT governance to reduce risk, ensure compliance, and remain competitive. Here’s how.