In today’s digital landscape, password management plays a critical role in safeguarding organisations against cyber threats while enhancing employee productivity. From generating robust passwords to monitoring security policies, Password Managers offer powerful solutions that fortify company defences.
Discover why password management is indispensable for every organisation’s cybersecurity strategy.
Understanding Cybersecurity Strategy
A cybersecurity strategy is a comprehensive plan designed to secure assets, mitigate cyber risks, and protect against threats. It involves implementing multiple layers of security with appropriate solutions in each layer to strengthen an organisation’s defences.
Empowering Your Cybersecurity Strategy Through Employees
Employees often resort to unsafe practices like storing passwords on sticky notes, spreadsheets, or unencrypted electronic documents. The challenge of remembering strong, unique passwords for various online accounts contributes to these practices.
Many employees create passwords using easily guessable combinations such as birthdays, addresses, or pet names. They often resort to reusing the same password or variations of it across multiple accounts. This practice poses a significant danger because if one account gets breached, cybercriminals gain immediate access to all other accounts using the same password.
Password managers are cybersecurity tools that assist employees in generating strong, unique passwords and securely storing them in an encrypted digital vault accessible from any device. They alleviate the burden of remembering multiple passwords, eliminating the risk of weak passwords or password reuse. This proactive approach protects all company accounts and data.
Incorporating Password Management into Your Cybersecurity Strategy
Here are several reasons why password management should be an integral part of your organisation’s cybersecurity strategy:
Enhanced Password Visibility
Most businesses have limited visibility into their employees’ password practices, leading to increased cyber risks. Password managers provide organisations with visibility into password hygiene and potential risk factors that could lead to data breaches. They enable users to create complex passwords that are difficult to guess or crack. They also encrypt passwords and store them in a secure database, helping protect against password theft and cyber attacks. To help secure access to the password manager Milnsbridge Managed IT Services has added Duo MultiFactor authentication to make sure only the password vault remains secure.
Secure Password Sharing
Password managers enable users to securely share password records with varying permission levels. Shared information remains fully encrypted during transit and storage, ensuring records are never exposed. If a team is working on a project that requires access to a shared account, a password manager can be used to securely share the login credentials among team members. This can help to streamline collaboration and reduce the risk of password theft or unauthorised access
Increased Employee Productivity
Password managers boost employee productivity by resolving common password-related issues. Employees save time searching for passwords, resetting forgotten passwords, and seeking assistance from helpdesk teams. With a password manager, users only need to remember one master password to access all their accounts. This can save time and reduce frustration when logging in to various applications and websites. Additionally, password managers offer autofill features, which can automatically fill in login credentials on websites, further reducing the time required to access accounts.
Streamlined Onboarding and Offboarding Processes
As organisations constantly undergo changes, such as new hires or employee transfers, manually managing access rights becomes impractical. A password manager automates access updates, including locking accounts when employees leave, and facilitates secure transfer of password vaults to trusted administrators.
Enhanced Single Sign-On (SSO)
Password managers can supplement Single Sign-On (SSO) solutions by bridging gaps for legacy applications or platforms that may not integrate seamlessly with the organisation’s SSO solution.
Compliance Requirements
Password managers play a crucial role in meeting global compliance standards and implementing strong cybersecurity policies. Regardless of a company’s size or industry, robust password hygiene and management systems are essential components of an InfoSec policy.
While organisations invest substantial sums in cybersecurity measures, a world-class password manager should be the primary investment for proactive and robust protection. Milnsbridge Managed IT Services recognises this and incorporates Keeper Security Password Manager in our Growth and Enhanced plans in conjunction with a suite of security tools such as Security Awareness Training, Multifactor Authentication and DNS Filtering.
Get in touch today to discuss how we can help to secure your business.
