The need for co-creating integrated solutions with customers through deep collaborations with globally distributed suppliers in the current business environment increasingly highlights the importance of service orientation in business networks (BNs). Service orientation in BNs stresses the need for composing and enacting dynamic networked business processes to support rapid responses to market opportunities. Well-established decisions for composing dynamic networked business processes and their constant enactment require high quality information exchanges among collaborating parties. Information governance (IG) is a holistic approach comprising different mechanisms that supports high quality information exchanges. In this paper the IG functionalities are identified that support ensuring high quality information exchanges among collaborating parties in service-oriented BNs. The practical relevance of the identified IG functionalities is discussed in a BN that intends to provide integrated mobility solutions. In this way, from a governance point of view, the paper intends to close the gap between information and process aspects of inter-organizational interactions among parties collaborating in dynamic value networks.