With cyber attacks on the rise and remote working becoming commonplace, now, more than ever – businesses need to keep on top of the security of their passwords or be at risk of suffering a costly data breach.
A study by Verizon Data Breach Investigations found that 81% of all data breaches are caused by stolen or weak passwords, a weak password could be a short, commonly used or easy to guess word or combination of numbers.
To support businesses with their IT security and reduce the risk of a breach from internal or external sources, our cyber security services include a password management tool which protects them from password related threats.
Find out more about the password manager and how its powerful features could benefit your business in our latest blog post.
The Risks of Poor Password Management
Without proper management, businesses are vulnerable to breaches which can have severe reputational and financial repercussions, with client data as well as your own business data likely to be compromised in the event of a breach.
Cyber attacks can be devastating for businesses of all sizes, with a Hiscox study on cyber attacks revealing the average yearly cost of cyber breaches is £25,700 – this is before any indirect costs such as loss of customers are considered.
Password management goes beyond the strength of individual passwords, you could also be at risk if a current or ex-employee has access to passwords they shouldn’t, logins are shared between employees, passwords are stored in an insecure location such as a spreadsheet or passwords are not regularly changed.
A further consideration is if an identical or similar password is used across multiple platforms, meaning that if one platform is comprised, all other apps and websites that use the same password are comprised.
Password Management Tool Features
Password management is more than just having strong passwords. Our password manager offers a range of features to protect your business:
- Password Management – Our tool automatically suggests and remembers strong passwords for employees, these automatically fill into apps and websites across an employee’s devices with the option to prevent them from seeing the password.
- Policy Enforcements – Ensure your staff choose secure & unique passwords based on rules set by you.
- Encrypted Vault – An encrypted vault is available to every user which can also be used to manage personal passwords. This vault can be transferred if an employee forgets their password and closed when they leave the company to ensure they cannot still access your systems.
- Security Audit – Scores employees based on the strength and uniqueness of their passwords. This then feeds into an overall score for your organisation.
- Role-Based Access Controls – Only give access to staff that require it, allowing you to better keep track of who has access. Passwords can be shared amongst individual users or a whole team.
- File Storage – As well as passwords, the tool can be used to securely store other files such as Word documents, images, and videos.
- Multi-Factor Authentication – With inbuilt multi-authentication, there is no need to use an external authenticator on your mobile – giving the highest level of security without the additional hassle.
As well as ensuring that a weak or compromised password doesn’t result in a breach, using a password manager can increase employee productivity and strengthen compliance standards.
Set Up & Managed By Our Expert Team
To simplify password management for your business and ensure the solution meets your unique needs, our team of security experts set up everything on your behalf including levels of access for each password on an individual basis.
From our secure control panel, we can manage your settings and permissions centrally to save you time. As the platform is built with zero-knowledge security architecture, our team is never able to view your stored passwords or other data.
Free Dark Web Scan
Confidential data including email addresses, passwords, usernames, identification and even financial information obtained from breaches are regularly made available on the dark web, giving cyber criminals the opportunity to impersonate the owners and commit theft or fraud.
Even if you have never had malware or experienced a cyberattack, if a website or piece of software you use has ever suffered a data breach, the chances are that some of your information is available on the dark web.
We are offering a FREE dark web scan which will reveal exactly what information is available on the dark web. Simply enter your business email address here and we will prepare a report detailing any breaches associated with your email domain, we will also keep you up to date with our latest news.
Bespoke Cyber Security Solutions for Your Business
If you are looking to ensure your business is safe from the risk of costly cyber attacks, we can help. We offer an extensive range of IT security services suitable for businesses of all sizes including:
- Dark web monitoring to notify you if employee logins are leaked in a breach.
- Cyber awareness training to ensure staff can spot and know how to act when they encounter a potential threat.
- Internal controls to block access to malicious websites.
- Regular updates of hardware and software to remove vulnerabilities.
- Edge security to block harmful files before they get into your network.
- End to end encryption to ensure sensitive data is secure.
- Support your business with achieving Cyber Essentials Certification and Cyber Essentials Plus.
To find out more about our new password manager or any of our other cyber security services, give one of our team a call on 0117 975 9523 or fill out a contact form to discuss your unique requirements.