SPOT Cybersecurity Tip: Top Reasons to Use a Password Manager in Your Business

Managing Passwords Doesn’t Have to Be Painful

Cybersecurity Tip from The Fulcrum Group
Click to read more SPOT Cybersecurity Tips on LinkedIn.

Using a Password Manager for an individual can be a huge savings of time, and significantly improve your personal cybersecurity posture.

Now take those same benefits and multiply them by 10, 20, 50, 100 or more users. Poor password hygiene continues to be a major problem.

Users without a password manager will normally resort to using the same password over and over again across many different applications and websites, resulting in huge cybersecurity risk.


Top Reasons to Use a Business Password Manager

Reason #1 Mitigate Risk of Data Breaches – A Business Password Manager helps your users create random, high-strength passwords for all of their websites and applications then stores them in a secure vault on all of your users’ devices.

Reason #2 Boost Employee Productivity – A Business Password Manager saves users time, frustration, and eliminates the need for them to reset, reuse, and remember passwords.

Reason #3 Bolsters Security & Privacy – Each employee gets a private, encrypted vault for storing and managing their passwords, credentials, files and private client data.

Reason #4 Enforces Compliance Standards – Strict and customizable role-based access controls, 2FA, usage auditing and event reporting provide industry compliance with SOC, HIPAA, DPA, FINRA, GDPR and more.

Reason #5 Save Money! The typical user can gain back 10 minutes of their day by using a Password Manager. That’s 40 Hrs or full work week per user per year! So how does a Password Manager save time for your users?

  • A Password Manager fills in your passwords for you, saving your users 5-20 seconds per password entered.
  • A Password Manager saves you from password resets – your Password Manager remembers the password so you don’t have to.
  • A Password Manager makes your passwords available where you need them – your desktop computer, your laptop computer, your smart phone, and your tablet.
  • A Password Manager changes your passwords for you.
  • A Password Manager alerts you to breaches and security issues – when a website you use gets compromised you can be alerted, and when a password you have used in the past, you can be alerted.

Want to learn more about using a Password Manager in your business? Reach out for a complimentary Password Manager Use Case Assessment.