Home Password Management 6 Signs It’s Time to Invest in a Team Password Manager

6 Signs It’s Time to Invest in a Team Password Manager

by Emma Wilson

About 60 percent of small businesses that experience a hack or data breach end up closing within six months. Hacks of any size can devastate both small and large businesses if appropriate security measures are not put in place. Here are the 6 biggest signs that it is time for your company to invest in a team password manager. 

1. Your Company Has Been Hacked

You need to invest in a team password manager if your company has experienced a hack. Even if the hack originated through a bug or other backdoor method, the hackers most likely had access to the passwords of your organization.

Even with this being said, some employees do not change their passwords following a hack or data breach. They think that because none of their information was stolen, their accounts are still secure. 

That is not the case. 

Hackers can save passwords to use in a later data breach. Or, they might try your same password in a different program, social media account, or bank account. 

A password manager can customize all your passwords for each website for you so you do not have to go from website to website changing each of your passwords.  

Another great feature of having an online password manager is that it will continually monitor the web for any comprised websites. If a website has experienced a hack, the password manager will alert you. 

You can then safely change your password to avoid any possible future data breach. 

2. You Need Stronger Passwords

Weak passwords account for nearly 50 percent of data breaches. In fact, “password,” 12345678,” and “password123” ranked among the most commonly used passwords. 

The key to protecting your company’s data from future data breaches is having strong passwords. Strong passwords are a huge roadblock to hackers, phishers, and social engineers from getting into your company’s system. 

One of the main benefits of purchasing a team password manager for your enterprise systems is that it will generate a strong, hard-to-crack password for you. The password manager will then store it for you, so you do not need to write it down or save it on a device. 

3.You Have Difficulty Remembering Passwords

As mentioned above, strong passwords are one of the key elements to protecting your employees and company data from potential breaches and hacks. However, employees do not like to create complicated and hard-to-guess passwords for fear of forgetting. 

Employees and individuals tend to use the same, easy to guess password for a variety of different logins and websites. 

A team password manager will not only remember a new and uniquely strong password for each website and program you use, but it will store them for you. 

You only need to remember one password in order to access your programs. 

4. You Use a Variety of Devices

In our very connected world, individuals and businesses are using a record number of digital devices. No longer is business only done on a desktop computer. 

People now require laptops, desktops, smartphones, tablets, watches, e-readers, and more. Sometimes, businesses require employees to have more than one. 

It can be tricky to have employees remember a variety of different passwords for a variety of different devices. Even if an employee has a great memory, they can get logged out when they switch back and forth between devices. 

A team password manager can help streamline passwords among a variety of devices so you no longer have to constantly worry about getting kicked off a website when you sign in from another device. 

5. You Want the Speed and Ease of a Team Password Manager

Another benefit of purchasing a team password manager is how it makes the log-in process easier and speedier. It can make logging into different platforms and programs seamless. 

Even if someone writes down all their passwords (which is a poor operational security practice), it can still take time for them to find the correct password and enter it in. 

In our fast-paced business world, there is no need to be fumbling around trying to find and enter in passwords when there is a solution available. A password manager will instantly log you into a website without wasting even a second. 

It takes all the work out of entering and typing in a password so you can get right to work. 

6. You Want to Maintain Better Access to Enterprise Systems

Another benefit of purchasing an enterprise password management system is that is strengthens security to different parts of your company. A password manager allows you or other managers to maintain better controls over which employees can access certain systems. 

This can be very helpful when you have new employees starting and you do not want to grant them immediate access to sensitive systems.

It is also helpful when an employee leaves your company. You can immediately terminate their passwords so that they can no longer have access to critical logins. 

Reach Out Today to Invest in a Team Password Manager

The world is becoming increasingly digitized as more and more normal daily activities move online, like banking, shopping, healthcare, and more. This presents an all-around threat to data. 

Protecting your online data should be a priority for not just individuals, but large and small companies as well. 

If you are looking for either a team password manager for a small business, or need an enterprise solution, there is no more time to wait. Reach out to us here at LogMeOnce.

We are a password management organization trusted to maintain password security from everyone from the United States Secret Service to BMW to the Mayo Clinic. 

Contact us today to learn how our password managers can benefit you and your company today.