7 Tips for Choosing the best Password Manager for Your Team

Here's how to choose and Password Manager

Selecting a password manager for a business is a pain. There are too many options, spoofers trying to flog the best thing since sliced bread. Upgrades, freebies, free trials, zoom/teams meetings & webinars galore. And you are still not clear. 

• You have limited resources, time and perhaps no IT expertise at all
• You must reduce your IT Cyber risk factor from 80% plus to less than at least 20%.

Let's make the following assumptions about your requirements: 

• You want individual secure passwords for everybody
• You have a budget
• Do you want an outside company to manage it for you?
• Zero Trust, cloud-based or not?

That's why a password manager is essential for modern businesses and organisations. 

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What is a Password Manager

A password manager is an application acting as an encrypted digital vault for all your passwords. It generates, stores, manages or retrieves your login credentials for your internal applications or online services securely with a password manager.

What a Password Manager will do for Your Business

• Password security

A password manager helps you build and store encrypted passwords. It controls the passwords and who can access the password. It tracks and audits password usage across the team, thus monitoring building protection and security. 

• Stronger passwords

Generate random strong passwords. This will ensure that the hacker can't access all your accounts with a single password. Building a strong individualised password culture in your organisation will be the greatest single contribution to cyber security will ever make. FACT 

• Quick access

You don’t need to remember all your passwords each time you log in. You will log in quickly with the auto-fill feature. People find they save hours a week with password automation & security. Login to SAP, Sage, and your website all at once.

• Get more work done with a password manager

Build a safety-first password culture and better productivity. 

So, you got an idea about the benefits of a password manager for teams, right? Now it’s time to discuss some tips for choosing the right password manager. You will be saving the cost of the password manager in 2 months. 

Tips for Choosing the Right Password Manager for Your Team

1. Two-factor authentication support.

• 81% of all data violations happen because of weak passwords and poor management.
• Too many existing passwords can be easily guessed. 
• 2FA (Two-factor authentication) uses a 2nd checkpoint for data access. A password and a fingerprint, iris scanner, or face scanner create 2 layers and better security.

2. Make sure you know what your preferences are.

• Do not let the vendor build your purchasing checklist.
• For example, would you prefer ease of use over absolute security like a Bank? A Bank, for example, will want security over convenience.
• Do you want the same system on-premise and across all your mobile devices, laptops and tablets?
• Zero Trust, Cloud-based, top-end cyber security such as 2FA are always a top option.

3. Go for simple and transparent pricing plans.

• Is pricing clear? Do you understand your vendor's pricing plan? What if we take on 50 or 500 more people? Just ask or email your provider to make sure pricing is clearly understood. Check terms and conditions. 
• Do your due diligence, ask for presentations, do a trial in-house and gauge people's reactions. Get their objections out of the way before the final decision.
• Don't apply too much weight to vendor references. These are normally carefully curated by vendors.

4. Look for cloud or self-hosting options.

Cloud hosting is a trusted, affordable and technically easy way to deliver cyber security. It is well known that cloud-based password managers for teams are way safer than browser-based ones.

Cloud-hosted password managers have an extra check for passwords and provide the liberty to use them on different devices with end-to-end security maintenance.

Browser-based password management works well but is limited to a single device which does not suit most businesses. Cloud-hosted password managers allow access in a safe and reliable, authenticated way to all your devices.

Make sure to tease this issue out before opting for free trials or selection procedures for your organisation’s password management software. 

Can I access passwords from anywhere?

• Are there enough cyber security features for remote usage
• Is a browser-based password manager on one machine too limiting
• Is there a 2FA option, thumbprint access
• Is my solution future proof, what is the providers' record of success

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5. Find solutions with developers and other team members.

Get yourself a tool with an integrated team working interface and allow integration of programmatic workflows. This ensures a seamless and flexible flow of work deadlines.

Many password manager tools like Keeper provide chat options allowing team members to communicate.

Options like CLI, command-line interface, and Application Programming Interface (API) make this easy. Teams can transition between these two options and provide solutions together. Password managers for businesses like Keeper Security provide CPI features on a platform with reasonable pricing and plan options.

Happiness is a good password manager

A password manager is a vital element of cyber security now. Make sure you choose the right password manager for your team. It should have all the security features to keep you safe from potential breaches. Also, it has to offer simple and transparent pricing plans that fit your budget.

Final Words

A good password will make life easier. People will enjoy faster access to their favourite apps, newspapers, entertainment, work productivity, M365, SAP, and whatever they need in their everyday life. There is no reason to delay now.

Choose the right password manager for your team with the security features to keep you safe from potential breaches. So that for the moment means Keeper Security managed service from BeSecureOnline. 

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