Feb 27, 2012

How LastPass Enterprise Saves Time and Boosts Team Productivity for Streamline Financial Services

Name: Tim Meisenheimer
Location: Illinois
Profession: COO, CMO, Financial Advisor
Company: Streamline Financial Services
Website: www.streamlineplanning.com
Twitter: @streamlinefin

The Story:

Streamline Financial Services is a next-generation financial services firm hoping to take the world by storm with a forward-thinking, tech-savvy approach. We caught up with Tim, an advisor who joined the Streamline team about 3 years ago to work alongside his brother and founder/CEO, Toby. As Streamline continues to expand, Tim and the team needed a password management tool that provided robust sharing features and secure syncing capabilities. Within one week of using LastPass Enterprise, all team members were up and running with an account, and hundreds of company logins were centrally organized.

Where do you use LastPass?

At the office, our employees use both Windows PCs and Macs, but thanks to the syncing power of LastPass they can access their account from any number of computers and mobile devices when at work, at home, or on the move.
  • Multi-platform environments with Macs and Windows
  • Chrome, Internet Explorer
  • Web login
  • iPhone, iPad

How do you use LastPass?

  • For centrally managing data and sharing company logins across the team
When our company was much smaller, Toby managed all logins and other online account data with a personal password management system that only he had direct access to. Individual and company data was mixed together, and as tasks were spread out over the team it was a hassle getting the most up-to-date data from the right person. When we started bringing on more people and our company logins numbered over 300, it was essential to have a central repository that allowed us to keep passwords consistent across everyone's systems. A week into our trial with LastPass Enterprise, we had shared folders set up to separate individual and company logins, and to group company logins for easy sharing. The shared folders can be pushed out to team members who need access to a given set of sites, and any changes or added data are automatically made available to the team - it's the definition of "seamless sharing". With central management from the admin console, we have the added ability of then reviewing actions and updates, so we're also better aware of how company data is being used.
  • For providing universal access:
We're in love with LastPass' ability to install anywhere and provide universal access to our data. Our team is mobile between multiple office locations and home, so the go-anywhere convenience of syncing with LastPass has been an enormous benefit. We know we'll have our data when we need it, no matter where we are.
  • For additional security:
With LastPass, we've been able to focus on the strength of our master password as the key factor in securing our accounts. It's a lot easier for team members to remember one strong password and then leave the rest to LastPass for generating, storing, and retrieving unique passwords across all of our logins. Team members can use the timed log off features in the browser addon to ensure that when stepping away from a computer or shutting down for the night, their LastPass session is terminated. LastPass provides an impressive range of customizable security options, with two-step authentication and a number of policies in Enterprise, so we know we can adjust our security requirements depending on the needs of our team and the data being stored.
  • For seeing just how much time LastPass saves us:
We get a kick out of reviewing the graphs in the Enterprise admin console. One week we had a total 601 logins. If you figure one login would normally take about 15 seconds to type and submit manually (given you don't forget the username or password), LastPass saved us some 2.5 hours that week - just recalling, typing, and submitting passwords. That's 2.5 hours of repetitive tasks that our team was able to eliminate and spend being more productive.

LastPass To The Rescue:

We found ourselves in a situation about a year ago when LastPass played a crucial role in keeping company operations running smoothly. You may recall the big storm that swept through the Midwest in February 2011 - newspaper headlines featured images of storefront windows blown out in Chicago and stretches of highway where dozens of cars were abandoned as people tried to make their way home. We were unable to go into the office following the storm, so our team was forced to work remotely. To help our administrator work from home, I was able to remote view into her computer and within 15 minutes had her set up with all the tools she would need to work that day, most importantly LastPass. Everyone was able to keep up with clients and projects despite the circumstances.

LastPass is a game changer; it's truly become an indispensable tool for me and my team.

4 comments:

  1. I like that LastPass will use an integrated fingerprint scanner. You can choose a ridiculously complex password (or better yet, have LastPass generate one for you). Then, use your biometric security software to login to LastPass. Reduces the problem of having all of your super-complex passwords secured with your luggage combination 1-2-3-4. Click the browser add-on, and a popup window appears asking to swipe your finger.

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  2. I'm curious, how does storing passwords with a 3rd party fit in with SOX and other regulations? I admittedly haven't looked at enterprise, but it seems a bit dangerous to me to have an employee (or group of - the admins) to have access to an entire groups passwords, especially if offline use is allowed. An admin already could reset passwords to systems to login as another user but that takes steps that take time and leave an audit trail, where if an admin had access to all passwords of all users they could do some real damage upon termination before you could change all passwords they have access to in the company last pass vault.

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    Replies
    1. The key with compliancy is tracking. LastPass Enterprise has a host of customize-able policies and reporting features that allow both users and admins to be managed and monitored. Our Enterprise manual: http://enterprise.lastpass.com/ provides more information on available features. Offline use, for example, can be prohibited for some or all users via one of the policies. User accounts can also be disabled, removed, or completely deleted when a team member leaves the company. Our Sales Team at sales[at]lastpass.com would be happy to address further questions or comments.

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    2. Your Last Pass administrator can make it so that the admin staff can't even see the password let alone change the password.

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