How to set up effective organization password management?

Last year, the global average cost of the data breach reached 3.92 million U.S. dollars. In addition to that, around 71% of those breaches were financially motivated.

This year, in the context of COVID-19, organizations started getting concerned about cybersecurity – they became the primary target for data breaches. So far in 2020, among the top 10 biggest data breaches, eight victims were medical and healthcare organizations.

As cybersecurity tendencies are shifting, a change in password management in organizations should be mandatory as well.

Most organizations don’t take cybersecurity seriously

7 out of 10 companies are not prepared for a cyber attack hoping it simply won’t affect them. It’s not about ‘if’ anymore. It’s about ‘when’.

Data breaches cost downtime, a ruined public reputation, or even bankruptcy. The fact that 81% of breaches happen due to compromised login credentials, shows that your employees should become your first and foremost priority in cyber security education. Effective organization password management always starts with your employees.

Principles of effective organization password management

Strict organization password security policy

Each password inside an organization can become a weak point that causes a data breach. For this reason, make sure each employee is familiar with the basic rules of how to create a secure, complex password. And, most importantly, that they stick to those rules.

To make things easier, share this article with your employees. This how-to checklist will help them avoid all-too-common password mistakes.

Even stricter password sharing policy

Unencrypted emails, chats, and other unreliable collaboration tools are the worst place to share passwords. Although this is not the most pleasant news for your employees to hear, security comes first. This means, all the sensitive data has to be shared securely inside a team as well as with external resources – partners, clients, investors, etc.

For this, start using a reliable security-oriented tool that allows your employees to store and share sensitive data in an encrypted environment. This way your valuable data stays protected from any unauthorized access.

Bonus tip: each time an employee leaves the team, all the access that he had, must be revoked. (Read on and learn how it can become a task that takes a few seconds rather than an hour-lasting hassle.)

Tools for easier rule-following

The place where many organizations fail is to provide their employees not only the how-to rules but also the tools that would enable them to follow those rules.

• You can’t expect your employees to remember complex, different passwords on every website they go to (and they go to on 191 on average).
• You can’t expect them to find the encrypted tools for data sharing all by themselves.

Human nature always tends to choose what’s easier. And this is not a situation where you want to take a risk.

Luckily, we have the tool right for your organization.

PassCamp – a tool for your organization password management

PassCamp is a password manager solution created for all types of organizations. Built with the most advanced cybersecurity technologies and perfected UX/UI, this tool allows your team to store, share, and manage sensitive data easily and securely.

• Let your employees easily create strong, complex passwords with just a few clicks and instantly forget them – the tool will safely store, remember, and autofill all passwords for them.
• Empower your employees to share data securely both inside the team and externally. It’s as convenient as sending a message, but incomparably more secure.
• Whenever an employee leaves a team, you can unshare all passwords that he had access to in an instance.

So set a time for an employee’s training session and bring password management in your organization to the next level. With its low learning curve and quick onboarding process, PassCamp is the tool to go for.