The basics of data and reporting governance

Getting the most out of your most important asset

Data & digital services Digital transformation Data analytics

The basics of data and reporting governance

Data has become the most important asset of many companies. Organizations with access to reliable data have more success solving complex problems within the business, maintaining regulatory compliance and confidently driving overall decision-making.

In today’s challenging business climate, absolute trust in your data is essential. Are you confident your data is accurate, available and usable across all functions, from sales and finance to accounting and tax reporting?

Companies of all sizes and in all industries operate multiple systems that collect data. Unfortunately, there are often few controls around that information, and the data is only as good as the processes behind it.

That’s where data and reporting governance comes in. Data governance helps align and catalog key data assets across enterprise systems, creating a single source of truth that enables organizations to effectively derive insights from their volumes of data.

Download RSM’s new guide to learn more about how to implement effective data and reporting governance. Topics include:

  • Common issues that lead to subpar data governance—including poor control of data, adding or moving systems, aging systems and eroding functionality, employee turnover and knowledge loss, and lack of visibility into data due to siloed processes
  • The importance of planning ahead
  • The data and reporting governance framework
  • Measures to address the risk side of data and reporting governance—including building a controls framework, performing ongoing monitoring and satisfying compliance demands
  • How to choose the right governance advisor

In times of economic uncertainty, businesses with an ecosystem that generates consistent, actionable data will have greater resilience and gain more effective business insights, enabling smarter and faster decision-making.

Many companies are intimidated by the data governance process, but it doesn’t have to be daunting
With the following four-step framework, your business can implement an effective governance program that gets your data clean and keeps it clean:

1. Engage stakeholders

Survey them for data problems, issues, and requests and compile a priority list to help your business see the big picture.

2. Manage demand pipeline

Capture data and reporting requirements. Understand broader business initiatives that touch data across systems.

3. Weigh strategic goals

Include business initiatives and address challenges when crafting the deployment plan.

4. Manage deployment schedules

Deploy the governance program via “activity sequence” to satisfy each major business area.

Download the e-book