For the past 10 years MetaGovernance has helped companies who were struggling with the challenges of getting quality data needed for an effective Data Warehouse or Business Intelligence initiative. We provided the guidance to implement or enhance their Data Governance framework and procedures in parallel with the effort. In recent years we’ve adopted this approach into the unstructured world of Information Governance. Data Warehouse, Business Intelligence and reporting solutions will simply fail if the business does not trust the data. It doesn’t matter how much was spent on the initiative, or what flashy tools are used. Bottom line, without trusted data, spreadsheets will remain the reporting tool of choice.
The majority of our work is in highly regulated verticals such as finance, insurance and healthcare. In this space not only do you need trusted quality data, but you need evidence the data is an accurate reflection of the business activity. Automating financial reporting often resulted in Accountants manually creating reconciliation spreadsheets to prove an automated report was correct. Automation took away their “workpapers”. We eliminated this operational waste by generating reconciliation controls as part of the reporting solution. This effort was so successful that we ended up trademarking Reconciliation Control Framework® to give a name to the technology-enabled approach of the InfoGov™, InfoCheck™ and InfoStore™ modules used in the process.
The pandemic has offered challenges to many companies due to the suddenly remote nature of the workforce. Use of data and information across the company — and awareness of the source — has been restricted to “those in the know.” Most companies do not have an integrated metadata awareness solution. This lack of awareness translates directly to operational risk. We have seen the value of the InfoGov™ module providing this needed awareness time and again.
Over the past three months we have had the opportunity to watch the power of Data Governance Controls in action. Significant changes in client transaction systems have resulted in major rework across Data Warehouse and reporting environment. These clients are very advanced in their implementation of Data Governance and Data Governance Controls, leveraging both InfoGov™ and InfoCheck™ modules. There is technology-driven awareness of the Data Owners and Data Consumers for a given subject area. The InfoCheck™ control engine leverages this metadata to ensure emails are sent to the required stakeholders to provide confirmation data that can be trusted, or alert them of issues.
There is a line in the old A-Team show, “I love it when a plan comes together.” So it was with great delight that over the past few months we have seen Data Governance Controls sending notification of underlying data problems found in the source transactional systems to the Data Owners and, of equal importance, to the Data Consumers. Those working from home are privy to the issues. Awareness is not hampered by the reality of strained communications caused by a remote workforce. It really is refreshing when theory becomes reality, and operational risk is mitigated in the process. Kudos to these project teams.