5 reasons why corporate password vault is a necessity
Well-known, large international corporations are not an exception when it comes to cyber attacks and data breaches. The bigger the corporation, the more valuable records are there to be exposed. Not surprisingly, among the worst cyberattacks of the decade, the large companies, organizations, and corporations (Yahoo, Marriott and the U.S. Office of Personnel Management included) share the highest number of records stolen.
Knowing that weak passwords cause 81% of data breaches, ensuring a proper password management system under the corporation control is a must.
For that, a corporate password vault, or a password manager, becomes essential. Let’s see why.
Why use a corporate password vault?
- To strengthen data security
A corporate password vault allows you to achieve the primary goal – to keep the most sensitive data – usernames, sensitive passwords, and secret notes, (including entrance codes, PIN codes, personal identifying info) protected against data breaches and shareable.
All your data in a password manager is stored in an encrypted environment, secured with AES-256 symmetric and RSA-4096 asymmetric encryption, zero-knowledge proof and two-factor authentication – all to ensure that the data can only be accessed by its owner.
- To follow corporation policy
Any reliable password management partner should provide you with the ability to store sensitive information according to your corporation policy. That is, you can host a password manager on your private cloud or other on-premise solution. Alternatively, it can also be hosted on the provider’s infrastructure ( without their staff being able to access your private data).
- To collaborate efficiently
Having ensured secure data storage, you should also provide your employees with the tools for secure collaboration inside the team and externally (with partners, contractors, and clients). A team-focused corporate password vault allows your employees to share sensitive data securely and thus decrease the risk of a data breach caused by irresponsible data sharing practices.
Plus, with features like Multi-tier sharing (unique feature of PassCamp), there’s no more need to send passwords to all team members manually – there’s a quicker and easier way to do it.
- To keep strict control
A corporate password vault that has a history tracking feature allows you to track each change made to your passwords. This way, you are informed about each new share and version of the password and note.
Also, when an employee leaves a team, it’s easy to track and revoke all data that he or she had access to in a few seconds.
- To access data in many devices
As remote work becomes a new normal, a password manager that syncs data among multiple devices is a must. Make sure to choose a tool that can be accessed via web and mobile apps, and provide your employees with the valuable and safe information access wherever they are. That’s a great bonus if some of your team is working remotely or spending their time on the road.
PassCamp – different approach to password vaults
Many password vaults out there allow you to add many items to a single vault (for example, a ‘Marketing team vault’, ‘IT team vault’, etc.), thus causing some limitations and inconveniences, like having to keep copies of the same password in separate vaults and missing out on the sync functionality.
On the other hand, PassCamp – a corporate password vault provider – offers a slightly different approach to password vaults. Here, every item is stored in a separate digital vault. This way, you have more control over each item, more sharing capabilities, and more convenience when using the tool. All the five reasons mentioned earlier included.
From day one, we focused on meeting the needs of successful teams. Today, thousands of teams secure their sensitive data and collaborate using PassCamp. Try out the tool for free or contact us to see a live demo – we’re here to improve your security, while making the daily work life of your team easier.
