In today’s blog, we start our theme in getting rid of those passwords once and for all.  This is done with a Password Manager, and here are the benefits of using one for your corporation or business:

The Corporate Benefits of Using a Password Manager

This application brings in many benefits, which include the following:

  • Only one password is needed:

In order to unlock and harness the power of your newly deployed Password Manager, you only need to create one master password. But remember, keeping this Master Password secure is up to your employees, the application cannot manage this one component.  It can only secure those passwords which actually reside within it.

  • The ability to create very complex passwords:

Remember, one of the primary goals of a Password Manager is to literally “remember” those passwords which you store into it.  You can now create passwords which are complex and difficult enough to crack, so that you do not have to remember them.  In order to accomplish this specific task, the Password Manager uses what is known as a “random generator”, to create these complex passwords.  It does this hard work for your business, so your employees do not have to waste their valuable work time.  This also helps to prevent employees from having to write down their passwords on Post It Notes.

  • Using the SSO functionality more securely:

The concept of this was eluded to in the beginning of this article.  The truth of the matter is while that using this approach is very advantageous to a business or a corporation, SSO’s are not securely implemented.  By using a Password Manager, an SSO can be securely deployed, and in fact, it will even use Cryptographic principles in order to scramble the password so it will be rendered useless, in in the off chance it was to be intercepted by a malicious third party.  The end result is that your workforce will be more productive when they access the multiple applications they need easily and securely.

  • It is very easy to change passwords:

Password resets is not only a drainage of time to the IT staff of a business or a corporation, but it can also be costly as well.  For example, it can cost up to $300 per year per employee just to reset these passwords.  But by using a Password Manager, your employees can reset their own work related passwords when they need to, without having to call upon the IT staff do that work.

  • You can use the Autofill very easily on Web forms:

The Password Manager not just stores passwords, but it can also save other personal and work related information of your employees as well.  So, depending upon how strict your security policies govern Internet usage, employees do not have to waste time either when filling in one of those time-consuming Web forms (these are often used in those instances of downloading a whitepaper, video, or audio podcast).

  • Access multiple devices:

By using a Password Manager, your employees can also access multiple wireless devices as well (such as using the same password to access a Lenovo brand laptop and an iPhone).  This makes it very easy and productive to conduct work related tasks, especially if the employee is a “road warrior”, meeting with prospects and customers in different geographic locations.  This also helps to reduce the security threats brought by the BYOD (“Bring Your Own Device”) trend.  This is where an employee uses their own, unsecure wireless device to conduct work related matters.

Although using a Password Manager does provide a reasonable level of security, it too has its vulnerabilities as well.  We review this in tomorrow’s blog.