Password Management: Don't Put Your Company At Risk

Posted by Krista Moon on April 9, 2015

Watch: Password Management

This may sound like a simple thing, but ineffective password management can really slow you down, decrease productivity and even put your business at risk.

We all have multitudes of passwords for our individual use, but it becomes especially problematic when you have to maintain passwords to access your customer data as well.

Every time you have to stop and search for a password, you’re wasting valuable time. Not only that, it’s a potential segue to becoming completely distracted from the task at hand. Even worse, if you’re doing work for a customer and don’t have the correct password, the work completely stops until you can track it down.

At Moon Marketing, we have so many passwords for each client – LinkedIn, Facebook, Twitter, CMS, CRM, Domain Manager, and more. We had to find a way to quickly and securely share passwords with everyone on our team.

One of our biggest concerns is security. When multiple people have access to sensitive customer programs that run their entire business, you open yourself wide open to being hacked. What if someone got mad and decided to go in and destroy your entire website? Or went into your LinkedIn profile and put a bunch of inappropriate stuff on there? Ok, the chances of someone being that stupid is pretty slim (they’d get the pants sued off them), but if it did happen, your whole business could be destroyed.

We took these concerns seriously and invested in a program called LastPass. If you’re not using something like this for your business here’s why you should consider it:

Simplicity

A common struggle with passwords is ease of access. With LastPass, you have access to all of your information in one spot.

For example, if you have 10 user names and passwords for Twitter, they’re all visible on the Twitter login screen. You just click the one you want, and away you go. It’s fast and super easy. You don’t have to go searching for anything.

And you can use LastPass on any device. Just login and you’re ready to go. What if you don’t have Internet access? It still works. Once you get back online, everything will sync up.

Security

Losing track of your clients’ invaluable information is not an option: it simply cannot happen. There are three reasons why a program like LastPass is invaluable to a business:

  1. Everything is stored in one place: Information will not get misplaced or put in an insecure area.
  2. Sharing access: you can pick and choose what logins you want to share with various people at any time. They don’t have to see it all. And if someone leaves the company, you can remove them from all access with one click.
  3. Hidden passwords: Administrators can decide who should and shouldn’t be able to actually see the passwords. This is our favorite feature. Employees can easily log into client programs, but they don’t have to actually see the login information. It’s hidden.

Not controlling passwords is risky business. How much would it cost you if your clients can’t trust you with their information? That could cost you a client, and if the situation is serious enough, it could cost you your business.

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