Passwords are an essential component to a good cyber-security plan, it keeps confidential or personal data secure and prevents it from getting accessed by unauthorised parties. Using a password management system puts businesses at an advantage from cyber-threats and keeping operations away from disruptions.
Password managers can significantly enhance security in businesses for many reasons:
1. Secure data protection - A password manager can store all your passwords securely, so you don’t have to worry about remembering them. This allows you to use unique, strong passwords for all your important accounts (rather than using the same password for all of them, which you should never do). SMEs are particularly vulnerable to cyber attacks because they often need more resources and security measures. Strong and unique passwords play a critical role in defending against these attacks and safeguarding sensitive information.'
2. Improved business operations - Research shows that the average person has to remember around 100 passwords. By incorporating a password management tool into your business, you are taking away stress from your employees. Staff often need to remember passwords to get into various accounts or files but with a password manager, you are eliminating the obligation to remember all these passwords.
3. Increased security in remote work - Remote/hybrid work is becoming more popular in modern society with a huge number of companies now utilizing a remote or hybrid work arrangement, there is a significant focus on security when logging into business accounts from home or public networks. Many password management tools use encryption or multi-factor authentication to secure passwords which safeguards a companies network efficiently - which is essential when operating as a dispersed workforce.
Password management systems we recommend:
1.Keeper
2. Google password manager
3. Nordpass
Cyber-attacks are becoming increasingly common and some attacks can seriously damage a business therefore businesses should priortise their cyber security. One of the first things a cyber criminal will do, in order to obtain your data, is to get your password. A password management tool could save your business from serious harm.