Small and medium enterprise business owners must come to understand the security risks of running a company that is connected to the internet. This is especially true in cyberspace wherein without the protection of a password management system, may potentially cause a data breach. Events like these are usually caused by bad password habits (storing and sharing unsecurely and reusing old passwords) among employees. Thus, the need for password management for teams.
In spite of the increased awareness of the need to avoid storing passwords in spreadsheets, sticky notes, or even notepads in computers, some employees still engage in such practices. Unfortunately, even just one person's negligence can severely compromise the whole team. Added to this, is the sharing of passwords by using social media platforms as well as the perennial email, which is relatively secure.
Then again, not so much.
The Team Password Manager
By far, the most viable solution to this dilemma is to acquire and set up a team password management system. What then does it exactly do? To loosely define it, the system itself provides safe, secure, and flexible password storage and sharing which then can be custom fitted for the digital architecture of the host business.
Password Manager Vs. Team Password Manager
We all know that password manager software is a program that allows for the secure storage and management of an individual's passwords and data. What it does is, it prevents data breaches and protects the overall integrity of your company's security system.
A password manager is always a reliable tool to keep your private accounts from being hacked. However, it cannot protect your employees and your company data from being intercepted when it comes to sharing passwords. Acquiring and implementing a team password manager system can enhance collaboration among members.
A team password manager allows you to sync and share your passwords safely and securely. Simply put a password manager for teams can do what a regular password manager can't.
Benefits of Using a Team Password Manager
• Better Security
You will have the ability to create secure passwords for both your team and your clients. You will be able to safely and accurately share with other employees.
• Improved Workflow
Avoid time-wasting issues in getting tasks done that are related to the sharing and management of passwords.
• Focus on Business
Good team password management affords you, the owner, to concentrate on your bottom line and let automation and expert IT personnel take care of your password and data security.
What To Look For in a Secure and Reliable Team Password Manager
Ease of Use
What does the interface of the system look like? Is it user friendly? Is it simple enough for your employees to be able to quickly learn how to accurately and regularly use it?
These are just some of the questions you have to answer before choosing what team password manager to acquire. Additionally, the manager must be adaptable to any kind of operating system and devices. It should be accessible from anywhere in the world for employees who travel and for some who work from home.
Secure Sharing of Passwords
Your manager must be flexible in the customization of credentials that are being sent and received by your employees. Your people will be able to accurately share passwords with others by assigning different levels of permission. Any change in the credentials may also automatically take effect on all employees who are using it.
Ease of Onboarding and Offboarding
Onboarding
Your manager must make onboarding for employees quick and easy to set up. This way your administrator will save on countless hours of having to guide your employees on how to effectively use the system.
Offboarding
Although advances in security technology can already prevent a released employee from accessing company data, there is still a risk of leaving it open and vulnerable when you don't have a password manager for teams. The need to immediately revoke password credentials will require a good password manager that will be able to do it as soon as the employee leaves the company.
And this has to be done with zero error.
Administrative Control
A team password manager must have the capability to let its admin view system activity both in real-time and historically. Also, the admin must have the ability to enforce password policies with the use of the manager. The system itself will have a dashboard, permissions, admin access, sharing in the team, and audit functions.
Security
The most important function of a reliable team password manager is its security features. Effective encryption for all and everything password must be in place. Highly recommended are, standard encryption of AES or Advanced Encryption Standard, and the two-factor authentication also known as 2FA which requires additional credentials for verifying user identity.
We at PassCamp ensure that our team password management system is adaptable to your requirements. We do this in accordance to the needs of your company's architecture. For us, security and efficiency are always on top of mind.
