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4 Reasons Why All Businesses Need a Password Manager

2020-10-16T00:33:00.000Z3 min read

Business

Today, doing business means having dozens of online accounts and dozens (or even hundreds) of passwords. Technology helps us run our businesses more effectively, but it can also make us more vulnerable to data breaches and cyber attacks.

Every business should use a secure password vault like TeamPassword as poor password management can undermine other security measures you and your team have in place in seconds. A hacked account can cost your business time, money, and countless headaches.

Here’s four reasons why:

  • Increase productivity. Your employees are more productive when they have access to the accounts they need. When employees have to divert from their tasks to ask for a password, your company loses valuable productivity. Don’t let the people whose time and expertise you’re paying for waste it on password management. With the TeamPassword browser extension, employees can access all the passwords they need right in their browser window, without ever interrupting workflow.

  • Avoid duplicate accounts. TeamPassword lets your employees see which services your company has already signed up for so that Jenna from HR doesn’t create a Hootsuite account when Joe from Marketing has already made one. Having multiple accounts for the same service can be a nightmare. It can be difficult to shut down twin accounts, and you could end up paying a duplicate subscription fee. Duplicate accounts lead to disorganization, confusion, and lost productivity.

  • Speed up onboarding. No one wants to spend their first day figuring out how to log onto the accounts they need to do their job. TeamPassword customers are saving an average of 120 minutes when onboarding new employees thanks to our handy Groups Feature. Just add the new employee to your TeamPassword account, then grant them access to the appropriate groups. New hires can immediately see which accounts they’ll be working on— and if they’re unfamiliar with a service, they can quickly ask about it and get rolling.

  • Ease the breakup. When an employee leaves your company, a team password management app makes it simple to revoke access. In just a few clicks the administrator can remove that person from their former groups without concern for the safety of the information they had access to. It only takes one moment of vindictiveness for a spurned former employee with Twitter access to potentially tarnish your company’s reputation. Prevent mistakes by having good systems in place — and a secure password manager.

Let TeamPassword help protect your data and valuable time. Contact us today for a free 14-day trial!

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