Business information
management for
small and mid-sized
businesses

Start building better business assurance for tomorrow by getting business information management sorted today

The most exciting thing about smaller businesses is their potential to grow.

Growth can be both challenging and rewarding. It’s probably part of what drew you to work in a smaller sized company.

And while growth is always the goal to strive for, it does bring with it issues of scale. Businesses that don’t prepare well for the effects of growth will buckle as they grow. You know this is true in areas like data collection and storage, security and HR processes.

What is not so obvious is that how you manage your business information can have a huge impact on the success of your business as it grows – if that affect is negative, it can threaten to seriously undermine your business assurance.

Getting business information management sorted out now, before it begins to buckle from the impact of growth, will set you up for success. You’ll be confident that communication across the business is clear and understood, that any business information issues are transparent and efficiently resolved, and that you can get the information you need to make great business decisions.

That’s business assurance.

What is Business Information Management?

Everyone understands that their business generates data. You either collect it from customers, acquire it through conducting your business or obtain it through purchasing or generating it.

When you and your team take that data and create reports, outputs, readings, metrics, figures or any other information that has valuable and meaningful significance for your business, we call that business information.

Businesses generally think a lot (and spend a lot) on their data collection, storage and usage tools and systems.

But investing in the management of your business information is just as important in the long term. It can ensure that your business information is secure, used and understood correctly, communicated clearly and growth in size and bottom line is not undermined by unmet legal, regulatory or reputational risk.

Read A Case Study

A small insurance company out performs their large industry leaders with a comprehensive, business-led review of business information resource management.
Read more here

Why invest in Business Information Management now if it’s not a problem yet?

We’ve worked with big businesses for the past few decades, trying to solve the issues of poor business information management. We’ve seen some pretty serious business assurance issues being faced by C-Suite executives of these large multi-national organisations because they couldn’t get reliable information about their business.

Without reliable information, they’re forced to make big business decisions based on something other than the facts of their business. That should make any senior business leader very, very nervous.

Without fail, the primary reason for these scenarios lies is poor business information management.

As a small to mid-sized business, you are in the ideal situation to build solid, best practice foundations for business information management, before the sheer scale of information, the costs, the number of staff and the energy it will take to implement good management, are all so overwhelming that it’s almost impossible to deliver successfully.

Now is the phase, in your growth trajectory, to ensure your business has rock sold business information management, to ensure continued success, as you scale up.

The benefits of Business Information Management

With best practice business information management in place, you’ll have confidence that:

  • the figures you’re receiving from your business are reliable
  • the metrics you and your team report on are consistently understood and accessible
  • figures, reports and other information is not misused or mis-communicated, either internally or externally
  • communication issues between IT staff and business staff will not routinely cause IT project budgets and timelines blow outs
  • the time and cost invested in creating business information can be fully leveraged because it will never be lost or locked away behind division siloes
  • issues identified with pieces of business information will be transparent to you and your staff, allowing you to know when information isn’t suitable for use
  • business information will never be used when out-of-date

Read A Case Study

A small pharmaceutical company strengthen regulatory assurance, and saves hundreds of thousands of dollars, by effective business information governance.
Read more here

What does Business Information Management involve?

We build business information management on four foundations:

A business term glossary

A comprehensive glossary that covers all key business terms, including metrics and reporting figures with their exact calculations. Best-practice glossaries involve a structured definition that makes writing and comprehending definitions as simple and straightforward as possible.

A business information encyclopaedia

A central repository, like an encyclopaedia, storing details about each piece of business information, allows all staff to find everything they need to know about a given piece of business information. This means your team can see what exists, who owns that piece of information, how to access it, what it’s security restrictions are, it’s life-cycle stage and if there are any outstanding issues with it.

Store relevant business information resources

A business information issues management system

Every staff member should has easy access to an effective issues management system, through which they can identify the resource, raise the issue, see the issue assigned to an owner to resolve and watch resolution progress, contributing to it if they wish. This means you can have confidence in the information you’re using for your business decisions and can see, at a glance, if what you’re looking at any issues to be aware of.

Store relevant business information resources

Governance of the business information landscape

Like any great management system, this one will only work if there are people keeping it working. And that happens with great governance. A governance team who can ensure active participation and upkeep of the previous three foundations will ensure your business assurance.

Business assurance
made easy

That sounds like a whole lot of work we don’t have the capacity to handle right now.

We understand. It’s a lot for smaller businesses to take on.

Intraversed are business information management experts and have developed their consultancy, education and software to allow businesses of all sizes to begin improving how they management their information resources immediately.

You can read more about how we can help your team on our Consultancy Page, our Education Page or our Software Page.

But why not use our free Business Assurance Assessment Tool, which is available for download here? It will help you work through these four foundational areas as they apply to your current business environment, so you can more easily see where you need to begin investing in better business resource management today.

And as always, we’d love to meet you for a coffee once you’ve completed it, to talk through how you can better manage your business information and begin improving business assurance. Why not contact us today?

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