Why You Need a Password Manager

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Why You Need a Password Manager

Read Time: 3 minutes Published: January 11, 2024

Did you know that up to 80% of data breaches are attributed to compromised login credentials?

Electric partners with digital security solution, Keeper, to safeguard your most valuable data through robust password management and two-factor authentication. If you don’t already use a password manager, here’s why you should consider a solution like Keeper to secure your business.

Why Use a Password Management Solution?

As cybersecurity threats continue to evolve, strong passwords are a non-negotiable line of defense against attack. However, the demands of maintaining unique, complex passwords for every account can quickly become a burden for employees.

As a result, users often rely on repetitive or insecure passwords, leaving your business vulnerable:

Benefits of Password Management

Password management solutions eliminate the need to manually create and manage lengthy passwords. For small and medium-sized businesses, the benefits of this approach include:

Security: Password managers fortify business cybersecurity by enforcing strong, unique passwords and encrypting employee credentials – reducing the risk of password hacking and theft.

Continuity: Access to company resources is unaffected by employee absences or turnover. Instantly update passwords and revoke access when a team member leaves your business.

Compliance: With at-a-glance insights on access permissions and data protection measures, password managers simplify audits and compliance reporting.

Efficiency: Streamlined login functionality means your team no longer needs to worry about forgotten passwords or resets – boosting employee satisfaction and productivity.

How Do Password Managers Work?

Password managers take care of the heavy lifting when it comes to generating, storing, and sharing critical passwords.

Password Generation and Storage

Password managers generate and store unique passwords for every employee on every platform they use. Rather than having to remember each individual login, employees use a single sign-on password to access everything they need.

Password Sharing

Without a password manager, passwords are at risk of being shared via unsecured channels, such as email or instant messaging platforms. Solutions like Keeper allow you to grant selective access to team members on collaborative projects.

Access Management

Password managers facilitate centralized control over who has access to your most sensitive data. Instantly grant or revoke user permissions to ensure employees have everything they need, without unnecessary data exposure.

Cybersecurity Made Easy with Password Management

Password management solutions strengthen cybersecurity, improve operational efficiency, and protect critical resources. Electric is proud to partner with Keeper to deliver cutting-edge password management and protection for small and medium-sized businesses. Are you ready to secure your organization? Contact us and learn more about Keeper’s innovative solutions.

Still not sure if password management is right for your business? Don’t take our word for it, read through our list of the most recent high-profile company breaches, where you’ll learn that large companies like Chick-fil-A have been victims of cyberattacks where passwords have been compromised.

Jessica Farrelly

Jessica is a content writer with more than 8 years of experience covering SaaS and the tech industry. She has worked with both B2B and B2C publications across North America, Europe, and APAC and currently writes about IT Solutions or Electric.

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