Password Management Helps Your Business Stay Secure

Password Management Helps Your Business Stay Secure

The ever-increasing need for cyber security combined with escalating threats is why it is crucial that all businesses have a strong password management system in place.

  • Weak and reused passwords are responsible for 80 percent of data security breaches.

  • A password management program allows a company to store encrypted passwords in the cloud, enabling easy digital security for everyone.
    Most businesses in today's world have established numerous passwords for employees with different accounts, profiles, and systems.

    1. Create passwords that are easy to remember, yet impossible for others to discover.

    Breaches due to weak passwords are the reason for 80 percent of all security breaches. An effective password management strategy is critical to minimize potential threats.

    To guarantee the security of your data, you should create complex passwords that include a combination of letters, numbers, symbols, and upper- and lowercase letter styles.

    A password management system will generate highly fool-proof passwords for your business, based on your needs. This means you can consistently create highly secure passwords, thus preventing unauthorised intrusions.

    This also helps your company prevent employees from using generic and simple passwords such as their address, birth date, or even the name of their dogs. The system allows the password management program to create unique passwords that have all the security features they need, including characters, lower and upper cases, and numbers.

    It might not surprise you that it is much harder to hack Kiur!RTQ than it is to be Skooby1222!

    2. Prohibit employee password reuse.

    Passwords can be managed with a password management system, ensuring that they work securely. Employees, therefore, practice mindful password hygiene when using the system.

    3. Manage multiple passwords from one place.

    Remembering the passwords for every employee while they're absent can be an extremely frustrating process. Conducting business requiring passwords while workers are on leave shouldn’t be hard. A password manager makes it easier for the business owner to find those credentials to that important information and get on with the job.

    Likewise, if a disgruntled staff member leaves with their password information, this would create a considerable cyber security issue.
    With a password management platform, you can easily provide every user with their own unique vault, while maintaining control over all passwords with an administrator dashboard.

    4. Your business’s sensitive information should be guarded.

    Require everyone to keep all the information required to do their jobs safe by making use of the password management system.

    5. Password management becomes much simpler with administrator functions.

    Arrange multiple employees to work on one of the tasks? No problem. With a secure password distribution system, you can safely share credentials with clients and employees, and manage shared credentials via Groups.
    The admin functions of your technology may vary, depending on the system you're using.

    • Automatically add or remove team members.
    • Share passwords with others securely.
    • Grant each employee a separate vault to secure their passwords.
    • Keep and organize electronic files: software licenses, WiFi login credentials, employee IDs, etc.
    • Determine security controls and privileges according to your team's preferences.

    6. Notification of a breach of security.

    A password management system will regularly check all your email addresses and rapidly notify you if a security breach occurs. This allows you to swiftly and quickly update passwords, minimising the risk of your email information ending up in the wrong hands.

    7. In addition to password-based controls, most modern software requires users to log in with multifactor authentication.

    Good password management systems have a great function that enables multifactor authentication in the system. This added layer of security can helps further confirm a user's identity by verifying their login through fingerprint verification, one-click mobile alerts, SMS messages, and so on. This can help heighten the cyber security of businesses.

    What system would be best for my business? ?

    There are many password management systems out on the market today, each with its own features and benefits. When selecting a password management product, be sure to incorporate your company's requirements into your choice. Consider one that offers ease of functionality, cost, and track record are as important factors.
    Learn more about which system is right for you at your local ITA member.
    CT Business Solutions | Hamilton | Morrinsville | Matamata-Piako | North Waikato

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    Check out the article and Video Never Use Your Browser's Password Manager

    This article was kindly co-authored by several of our IT Alliance colleagues and syndicated to the IT Alliance

    IT Alliance Members:
    CT Business Solutions | Hamilton | Morrinsville | Matamata-Piako | North Waikato
    Ultra IT | Northland | Kerikeri | Whangarei
    IT Live | Auckland
    Technology Partners | Tauranga
    Vision Lab | Te Puke
    AdvancedIT | Rotorua | South Waikato
    BlackSANZ | New Plymouth | Taranaki
    GTB | Wellington | Kapiti
    Decision1 IT Solutions | Dunedin | Otago
    IT Centre | Wanaka | South Otago
    Voicecom | Invercargill | Southland

    Related Services:
    Cyber Security
    Managed Services
    Has Your Email Been Breached?

    Last Updated: 18/03/2023
    Keyword: Password Management
    Author: Dennis Jones | CT Business Solutions

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