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involved in implementing such an IG framework in banks, most of which
are concerned with the need to prioritize the results. Others pointed out
that IG is included in IT governance.
A particularly noteworthy finding is that amongst the banks included
in the study, a U.S. bank is currently implementing an IG program. They
found that they can save time and also a lot of money by implementing
such a program. It is interesting to note that, in this case, the project was
assigned to the global CIO. The project's objectives are to reduce costs and
mitigate legal risks.
Lastly, it is interesting to note that while the majority of the banks
included in this study has some policies or practices that address the
factors contained in the proposed IGF, information is not usually their
focal point. Moreover, in general, such policies and practices tend to be
disconnected from each other.
CONCLUDING REMARKS
This final section starts with setting a new definition for IG. Information
governance refers to the establishment of policies through formal struc-
tures that define rules, procedures, and decision-making rights regarding
information management, in order to mitigate regulatory and operational
risk, reduce costs, and optimize the performance of the organization.
Some of the executives interviewed in this study agreed that there is
a tendency for the
T
(Technology) in
IT
to predominate in the IT field.
In recent years, organizations of all sizes have become fascinated by the
resources created by information technology. This is easy to understand
when one looks at the global figures for IT. According to Gartner, global
spending on IT in 2012 will reach US$3.8 trillion (IDG, 2012), a large part
of which will be used to acquire new products and infrastructures. As
mentioned before, to reduce the gap between business and IT is necessary
to change the present technology bias from the enterprises' investments
in IT. An IGF can help organizations review their investments priorities
by refocusing them on the subject of information. In 2003, Nicholas Carr
published “IT Doesn't Matter,” which caused a huge stir in the IT industry.
Indeed, mainly since the advent of Internet, the evolution in software
production, the spread of networks, and the rise of the consumerization
phenomenon, there is a common perception that technology is available
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