As technology has advanced and moved to the cloud, your business relies more and more on business applications to get work done. From the marketing team to finance, there’s no team that doesn’t need access to multiple applications, sites and accounts simply to get their job done every day.
According to our data, the average employee using LastPass has over 190 accounts!
With this many accounts, there’s no way your employees can remember their logins. And they are probably resorting to bad practices to get logged in and get their work done quickly. They might be reusing passwords or writing them down in notebooks kept perilously close to their computers.
This puts your business at risk. According to Verizon’s 2017 Data Breach Investigations Report, 81% of breaches are caused by weak or reused passwords.
Even though we know that every department uses apps and sites at work, we often experience companies that only want to get LastPass for their IT team. While it may be true that the IT team has very sensitive information they need to protect, the logic of only protecting them is not sound.
Let’s explore some scenarios to discover why all your departments need a password manager.
Marketing organizations use an array of tools, many of which are shared across teams. In the case of large enterprises, this may add up to more than 100 users. Add to that external agencies (public relations, branding, marketing programs, events), and that number multiplies.
With LastPass, your marketing team can share credentials with outside vendors and agencies securely. You can provide access without that 3rd party ever knowing the password. And If employees or vendors rotate out, no problem. Credentials are easily revoked.
Human Resources manages some of the most sensitive data in any company — your personal information. Payroll, benefits, and performance evaluations top the lengthy list, all of which is one password away from hacker access and abuse. Social security data and medical information could also be exposed without adequate protection. A password vault creates the privacy shield expected by companies and employees alike.
Finance may not face the same volume of applications as other functions, but the need for protection is clear. Strategic planning, profit/loss statements, budgeting, and the many reporting requirements faced by public companies represent the essence of business value. In the hands of a rapidly growing community of malicious hackers, the exposure here speaks for itself. This sensitive data also crosses many aspects of the business, and often involves outside entities, including accounting, board members and shareholders. Every protection available should be applied to this highly sensitive data at the heart of every business.
These are just a few examples of departments that need protection from bad password habits. Securing only one function still leaves the rest of the organization at risk. There is simply no need to assume unnecessary risk for savvy, security-smart companies. LastPass can help.