The survey, carried out by Documation UK, found that 44 percent of IT professionals said their company had no strategy in place to deal with document and information management, despite 94 percent of respondents indicating that the subject was important.
Experts said the figures showed that education is needed to promote better information management practices.
"These figures show that although IT professionals are generally aware of the importance of effective and efficient information management there is still a great need to raise awareness of the legal requirements of managing information." said Tamar Beck, Group Exhibition Director for Documation UK.
Only 42 percent of IT professional were aware of any regulations or legislation which would affect them or their job directly with regards to business information management.
"The survey highlights that many organizations need to put an information management strategy in place and fully understand the regulations and legislations they must meet, " said Bijan Bedroud, Regional Vice President at content management Vignette.
He added that moving to an electronic information management system allows businesses to store, secure and account for data.