Businesses today are becoming increasingly conscious of the threat of cybercrime. Last year, the FBI’s Internet crime complaints center recorded over $10.3 billion worth of cybercrime losses, a new record which demonstrates the scale of the growing threat facing organisations of all sizes. To protect their digital assets, businesses across all sectors must take a dynamic, multi-faceted approach to cybersecurity; one that leverages a range of tools to defend across multiple security fronts at once.
One of the digital commodities most at risk in our online world, is user account credentials. These simple username/password combinations can be used to damaging effect in the wrong hands, but fortunately businesses can take a few simple steps to prevent credential compromise, as we explored in our previous article.
However, while practicing good password hygiene can seem simple in theory, the complex, multi-platform nature of the modern IT system can make it hard to govern passwords across a multitude of internet-connected services. Thankfully, there’s a solution at hand that makes enforcing password best practices and securing your online accounts a breeze: the password manager.
Here at Accqua IT solutions, we help businesses across San Luis Obispo and California’s Central Coast operate securely and scale up their productivity, through the power of expertly managed IT. We like to help our clients leverage the most impactful technologies so they can focus on running their businesses and serve their customers effectively. Password managers are simple but effective security solutions that can help businesses overcome persistent account security challenges. In this short blog, we’ll give an introduction to password managers, before listing 8 key benefits they can provide to businesses that adopt them. Let’s begin…
What is a Password Manager?
A password manager is an online service or a locally hosted software application that helps users to create, manage and store passwords for various online accounts and services. The main purpose of a password manager is to improve account security, by assigning long, complex passwords to each online account, and assisting users in organizing and managing them.
Let’s now consider some of the ways a password manager can help you bolster the security of your online accounts, and help you streamline and simplify the management of account credentials across your business.
You Only Have to Remember One Password
A password manager acts as a safe for all your online account passwords, storing them inside, in an encrypted format. Your master password is the key to this safe, so it’s the only one you are required to remember. Online password managers typically auto-populate account credentials via a browser extension, so just log in once, and the password manager will provide your account credentials as and when you require them.
Improve Password Quality Across Your Organization
Password managers generate high-quality, long and complex passwords for your user accounts. This removes the responsibility of creating secure passwords from your end users, and effectively ensures robust password protections are being applied consistently across your business.
Password Managers Offer Protection Against Rogue Websites
Cybercriminals often use rogue websites that imitate trusted online portals, to harvest account credentials from unsuspecting victims. Links to these sites often feature in Phishing emails, accompanied by a request for the user to log in to their account as a matter of urgency.
Because many password managers will only autofill credentials into legitimate websites, these helpful little applications provide a last line of defense against phishing scams and the malicious websites they use. A boon for San Luis Obispo business teams working both from an office and remotely.
Password Audit Features
While password managers can automatically generate secure passwords for your accounts, you can, if you wish, continue to create your own passwords, and use the password manager as a storage location and autofill mechanism.
Many password managers will help your team create long complex and secure passwords by means of password audit or strength assessment features. This typically assigns a security score to new passwords and may even flag up the attempted reuse of passwords across multiple accounts: a risky practice from a security standpoint!
Save Time and Effort
There’s nothing more frustrating than forgetting or losing track of an account password. Typically, you’ll have to declare your password lost, and request or create a new one via an email link. Ever wonder how often your employees are having to do this? It’s probably more than you think.
With a password manager, you can eliminate the hassle of managing multiple account passwords, and ensure you never again have to navigate the time-consuming rigmarole of resetting login credentials. What’s more, password autofill avoids the typos that occur when manually entering passwords, ensuring your passwords are entered correctly every time and account lockouts avoided.
Multi-Device Synchronization
Many password managers support multi-device synchronization. A helpful tool for local businesses in San Luis Obispo that offer remote working. This feature allows users to access, manage and autofill their account credentials across all the devices they use, including desktop PCs, laptops, tablets and cellphones. This ensures users have the logins they need when they need them, and from whichever device they’re using, aiding both convenience and security.
Apply Multi-factor Authentication
Many password mangers support multi-factor authentication. This requires users to submit an additional verifier when making a login attempt, information that can be hard or even impossible for a hacker to guess or spoof. This additional safeguard further strengthens your online account security.
A Cost-Effective Investment in Your Cybersecurity Posture
A password manager is an effective and affordable way to make a real difference to your organization’s cybersecurity posture. Small business plans start from as little as a few dollars per user per month, and feature the functionality you need to securely govern and manage your accounts, including encryption, password sharing and simple access controls.
More advanced features can be accessed within the $5-12 per user per month range, with the likes of role-based access controls (RBAC), and auditing and reporting features offering enhanced access and compliance governance capabilities.
Conclusion
Providing a convenient, low-cost way to generate, manage and store secure passwords for all your user accounts, password managers are an accessible way to fortify your cybersecurity posture. Password managers are a popular tool deployed by IT support providers across the world; from San Luis Obispo and the Central Coast to the corners of the globe, businesses can ask their IT support provider to recommend a reputable password manager, and mitigate against account takeover risks across your business.
Accqua IT Solutions – Elevating Central Coast Businesses with Tailored IT Services in San Luis Obispo
Nestled in the heart of San Luis Obispo, Accqua IT Solutions offers premier IT management, support, and cutting-edge solutions tailored for businesses throughout California’s picturesque Central Coast Region. Our dedicated team is proud to serve as a beacon of innovation, enhancing productivity and fortifying cybersecurity for enterprises along this stunning stretch of coastline.
Partner with Accqua to unlock the true potential of IT as a driving force for growth within your San Luis Obispo enterprise. Our friendly and seasoned experts specialize in crafting tech solutions to meet your unique needs. Contact us today to discover how we can contribute to the success of your business amidst the scenic beauty of the Central Coast.
