What is secrets management software & why should you use it?

Every business has confidential information. If someone from inside or outside reveals it, the company can lose clients, reputation, or even competitive advantages.

How can you ensure your business secrets are safe? How can secrets management software facilitate this task?

What is secrets management?

Secrets management is a process of keeping, managing, distributing, and protecting sensitive information inside the organization. Each company can achieve it with various means. The company can use secrets management software, rent services, or introduce necessary data security policies.

The goal is to keep sensitive, confidential information closely guarded and avoid accidental data disclosure.

What secrets can you keep in secrets management software ?

There are multiple secrets that every business should keep in reliable secrets management software. Secrets refer not only to trade secrets. They include any information that works as a key for accessing business resources, tools, applications, and other environments.

Usually, secrets include:

• user passwords;
• system-to-system passwords;
• encryption keys;
• servers;
• databases;
• payment methods;
• employees accounts;
• other.

The complexity, variety, and differences among types of sensitive data make it difficult for a company to protect its data without any compromises on security.

How should a company manage its data? What are the secrets management best practices?

In 2023, hackers will steal around 33 billion records. With the attacks getting more fruitful, it is critical to introduce excellent secrets management practices in companies of all sizes.

The easiest way to do it – start using reliable secrets management software. In this tool, you can securely store a variety of business secrets, manage them, and provide access (if needed).

Secrets protection with End-to-end encryption

Secrets management software (or a password manager) provides encrypted vaults where you can safely keep and find information. When selecting a tool, check if it uses End-to-end encryption and Zero-knowledge protocols to guard your data. This way, neither hackers nor the tool developers can access or reveal your secrets.

Passing secrets securely

Such software also provides secure data sharing feature. If you need to pass the server data to another party (f.e., responsible people in the team), you can do it safely.

No data is sent in plaintext. Every piece of information is encrypted and authenticated before anyone sends it.

Intuitive interface

Secrets management software should be easy to use. Most tools are highly intuitive and come with a shallow learning curve. For instance, PassCamp was recognized by the tech leader Google for its ultimate security and smooth teamwork.

When selecting your software provider, always pay attention to intuitiveness criteria. You want your employees to adopt good habits quickly.

Reliable and dedicated secrets management software is reasonably the best existing solution for protecting your business secrets. Provide your employees with the tool to manage sensitive data safely today and minimize the risk of accidental data disclosures.