Password manager for automotive industry – do you need it?

The automotive industry is large and is getting larger each year. Between 2017 and 2030, this global industry will grow close to double – from $5,3 billion to $8,9 billion of revenue. If you plan to stay in this market and enlarge your slice of the pie, you must strengthen the weakest links in the business.

Adapting a password manager for automotive industry on time can help you avoid costly risks. Here’s how.

Threat landscape: sensitive data is tempting (and profitable) to hack

Technological improvement, intelligent cars connected to the network, and sophisticated hacking techniques are some of the major concerns for the automotive industry. Auto companies are an attractive and fruitful target for cybercriminals – a data breach on average costs $3.86 million globally.

The tech giants are not an exception – back in 2018, nearly 47 thousand records from Tesla Inc., Toyota Motor Corp., Volkswagen, General Motors, and others were leaked. During the breach, even several company’s trade secrets were exposed.

Where are the weakest links in cybersecurity?

The automotive industry is complex – there are the production platforms, supply chains, and internal business procedures that can become the easy entry points for hackers.

Protection of production and supply systems requires end-to-end security from both sides – the backend IT systems and the systems they connect to. Hiring a professional who understands all of the parts involved and the security risks they pose can be of a great benefit.

Yet, securing internal business processes requires tools. In this case, a password manager for automotive industry becomes a necessity.

Password manager for automotive industry for securing internal business processes

Internal business processes are all about humans and, naturally, the errors they make. Just like in any other company, auto organizations have similar organizational solutions – the HR staff, accountants, technicians, and team leads that spend some part of the day at the computer.

A password manager for automotive industry oversees and solves all of the common password management mistakes that employees make. Mistakes, that can lead to millions in damages.

Eliminates the risk of “brute force” attack

As FBI data suggests, the most common type of attack against the automotive industry is a “brute force” attack. For example, a hacker leaks the database of Tesla’s employees’ logins. Then, he uses those email/password combinations to try logging in to popular automotive software.

Luckily, a password manager for automotive industry provides all means to build correct password habits. The tool allows you to generate strong, random passwords and, this way, avoid reusing them. You can then safely log into the automotive intranet using a unique password. If a hacker tries to use it on other platforms, the password will be useless.

Allows secure information sharing

When the sales manager at a factory needs to share a password with the car salespeople at the car dealerships, the password manager provides an easy and – most importantly –  safe way to do it.

End-to-end Encryption and Zero-knowledge proof – progressive cybersecurity technologies – ensure that the data between the factory and the dealerships travel securely. That means no intruder can reveal it, and only the intended recipient can access it.

Takes pressure off everyday tasks

Let auto mechanics and auto electricians do their job, taking pressure off their shoulders regarding security. Provide an intuitive way to complete everyday tasks safely.

A password manager for automotive industry stores all passwords in a highly secure vault. Your employees will need to remember only one password to access them all – logins to the client’s databases, passwords to supply and delivery systems, credentials to the car diagnostics software.

PassCamp – your partner in staying in the automotive business for good

PassCamp is a password manager that takes care of one of the weakest links in automotive industry – human errors in internal business processes.

Having already implemented hundreds of successful integrations, the PassCamp team can offer you a custom, industry-specific password management solution depending on your individual needs or an out-of-the-box password management solution for teams.

Contact our team today and let’s discuss your preferences – that’s the first step to increase that slice of pie in this growing industry.