Information technology has revolutionized how the world conducts business. Advances in communication, accessibility, automation, data analysis, cloud computing, and more have created a universe of near-limitless technological possibilities. Today, even the smallest organizations are backed by computing power that rivals anything that would have been available only a decade ago. However, through every digital breakthrough, it’s important to remember that IT is only a means to an end; if technology is not helping businesses achieve their goals, then it’s little more than a distraction.
IT governance takes this truth to heart. As the first part of governance, risk, and compliance (GRC), IT governance is putting the structure in place (policies, procedures, and frameworks such as COBIT), which can then be followed testing compliance and accessing risk. Correctly applied, IT governance empowers organizations to manage their essential technologies with purpose, ensuring that all relevant IT platforms, tools, strategies, initiatives, activities, and resources are properly aligned and working towards common objectives.
IT governance is an essential part of GRC, and thus plays a vital role in both public- and private-sector organizations. Governance brings IT functions into alignment with business strategies and objectives, making IT governance programs a valuable consideration for any industry required to adhere to financial and/or technological regulations.
IT governance establishes a direct connection between technologies and business value. As such, it carries with it several clear benefits:
By aligning IT with broader strategies and goals, IT governance provides a series of quantifiable metrics by which decision makers can accurately assess and demonstrate IT value.
Non-IT personnel sometimes have difficulty comprehending the function or advantage of certain business technologies. A clean, transparent IT governance framework clearly establishes the exact purpose of IT solutions within the context of business goals, giving stakeholders more confidence in the organization’s technology services.
Without proper IT governance in place, there is little preventing IT from being used incorrectly, illegally, or even dangerously. IT governance offers a clear view of all company information technologies, so that noncompliance issues may be easily identified and corrected.
Misaligned IT services naturally lead to poor data identification, ineffective security controls, inadequate communication, and substandard resource allocation. Properly implemented, IT governance provides the solution to each of these issues, allowing businesses to reduce costs while improving returns on their IT investments.
As previously stated, the underlying goal of IT governance is to accurately align IT solutions with business objectives. More specifically, IT governance is designed to achieve the following goals:
This goal is deceptively complex. After all, most organizations have many kinds of stakeholders, both internal and external, and they each may have their own interests and ideas of what constitutes ‘value.’ IT governance takes conflicting stakeholder interests into account, synergizing multiple tasks and ensuring that value is being delivered across every level.
IT governance provides the insight, transparency, and measurable data businesses need to clearly connect IT to business value. Using this information, businesses can then build effective strategies for maximizing that value. IT governance helps organizations refine their vision for IT activities, establishing common language to communicate at the highest levels (and to the board), and laying down clear direction for future growth.
A fully vetted IT framework helps eliminate the risks associated with shadow IT, creates a framework for an accurate and real-time view of risk, and ensures that all systems are being employed correctly and are up to date in terms of security. But it also goes beyond the risks associated with data theft. IT governance also takes into account the differing interests of various stakeholders, offering clear solutions when these interests conflict, and helping to mitigate the risks of different departments working at cross purposes.
How can an organization determine whether their IT assets are functioning together properly and providing value? The only way to know for sure is by measuring results. Using key performance indicators and metrics built into the IT governance framework, decision makers can accurately gauge the performance of all relevant IT resources.
IT governance offers tangible benefits to organizations of all sizes, within both the public and private sectors, and across essentially every industry. That said, the time and effort needed to build and implement a comprehensive IT governance solution may be prohibitive for smaller businesses. Small organizations may choose instead to establish simplified IT governance solutions, rather than invest in something that goes well beyond their needs. On the other hand, larger organizations that have the resources to field complete IT governance frameworks are encouraged to do so. Likewise, any organization that operates within heavily regulated industries should consider IT governance to help mitigate compliance and accountability risks.
Modern businesses of all kinds depend heavily on IT systems, tools, and resources, but getting the most out of IT and ensuring that every asset is fully aligned towards common objectives can be difficult. Aspire High Consultants, the leader in IT management solutions, offers the answer: Aspire High Consultants Governance, Risk, and Compliance (GRC).
Aspire High Consultants GRC brings together IT assets to help businesses manage risk and resilience in real time. Enjoy full transparency of all relevant IT data, visually represented on easy-to-use dashboards, and accessible via chat, mobile, and online portals. Employ continuous, up-to-the-minute monitoring to keep track of compliance and vendor statuses. Connect with leaders, decision makers, and stakeholders across the organization. And through it all, employ advanced automation to drive productivity, reduce errors, and increase IT value across the board.
Aspire High Consultants is a boutique IT Risk Solution consulting firm currently engaged in the business of providing risk management solutions in specific domains
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