Types of corporate password management software
Responding to the increased number and severity of cyber threats, many companies have started using corporate password management software to improve their business security.
Password managers protect employees’ passwords, logins, keys, and secrets. Plus, they provide a secure way to share sensitive data. In most cases, that is enough to avoid the all-too-common password mistakes which often lead to data breaches and cyberattacks.
If you are looking for such a tool for your organization, we’re here to guide you through possible options by comparing the types of corporate password managers out there.
Types of corporate password management software
Corporate password management software can be divided into two categories – based on data storage and hosting architecture.
Password managers based on data storage
Desktop-based (Offline)
Being one of the oldest types of a password manager (yet, losing its popularity these days), desktop-based password managers encrypt and store user’s usernames and passwords locally.
Pros
The sensitive data cannot be accessed via any network, so data belongs only to the person owning the device.
Cons
If a device gets stolen, so is all the data. Also, the user cannot share passwords with others securely.
Browser-based (Online)
Such a password manager (as Google Chrome and Firefox) runs directly in a browser – it saves and fills passwords automatically for a user.
Pros
Usually, browser-based corporate password management software is free of charge and is convenient to use.
Cons
However, browser-based password managers lack some advanced security features. Another limitation – the user cannot share his passwords securely.
Cloud-based (Online, usually in a form of a web app)
Cloud-based corporate password management software is currently on the rise due to its advantages for larger teams working remotely. The cloud-based password manager provider stores encrypted copies of a user’s sensitive data in their servers, so the user can securely access it whenever he needs it.
Pros
Advanced cyber technologies ensure user’s data is kept securely. All the data is synced 24/7 and is accessible on all user’s devices. Additionally, a user can securely share data with others.
Cons
In the case of server downtime, the user might not be able to access his data for a short period.
Token-based (or Stateless)
Token-based password manager requires local hardware (for instance, flash USB device, or smart cards) with a key inside that unlocks a particular user’s account.
Pros
Used together with a Master Password (two layers of authentication), token-based password managers are a secure data storage solution because no user’s data is stored in any database.
Cons
Yet, these password managers are highly complex. In case of some technical failure, the user himself has to find the solution since there is no support available.
Password managers based on hosting architecture
Apart from the previously discussed differences from a data storage perspective, it is important to cover the last two differences that are critically important for any corporation to consider.
Where to host a new corporate password management software – on-premises (in local enterprise network), or on the cloud (to use SAAS solution)?
On-premise
When choosing an on-premise solution, all passwords within the corporation will be stored, accessed, managed, and shared internally, within a corporate network. This allows you to have greater data control and more stability.
However, such data control requires human resources. You must have a dedicated IT staff that could immediately react to server failures, technological issues, take care of improvements and system updates. Naturally, on-premise corporate password management software is considered a suitable choice for larger organizations and corporations.
Cloud (SAAS)
The other option is to use a SAAS solution. During the global pandemic, when many employees work both in-office and remote, cloud computing becomes a necessary attribute for secure data transferring among employees and external business partners.
With a yearly fee, the organization gets an advanced cybersecurity product that stores and protects its internal data 24/7. Such corporate password management software is always maintained, secured, and updated by the specialists in the field. Therefore, the SAAS solution is applicable for all sizes of companies that need automatic data synchronization, secure and smooth storage, and sharing solutions.
PassCamp – your reliable partner
If you need to make a decision as soon as possible, consider partnering up with a provider that can adjust the tool to your organization’s needs. PassCamp – an enterprise password manager – is one of such.
With our long-term experience in the field and many customized solutions provided, PassCamp can offer your organization a solution custom-tailored to your needs.
The corporate password management software can be hosted on its infrastructure or your private cloud, public cloud, or on-premise. Besides, all future product updates are included.
Join thousands of teams around the world protecting their business data with PassCamp. Let’s have a productive chat.
