Three Ways LastPass Can Help MSPs Focus on Growth

A managed service provider (MSP) is an outsourced third-party that assumes responsibility and control of day-to-day operations. They often handle many operational tasks that are critical to business' success, freeing up their clients’ administrative responsibilities and allowing them to focus on growth. However due to their unrestricted access to client environments, they need to secure credentials efficiently by maintaining good password hygiene to keep both themselves and their clients safe.  In the ConnectWise 2022 Cyberthreat Report for Managed Service Providers, the emergence of the Super-MSP was highlighted and with backing from private equity funding, these budding supernovas are able to afford more remote talent and would like their focus to be on delivering efficiency and automation. However, given the current threat landscape, as MSPs expand from SMB (Small to Medium Businesses) to Enterprise, a robust cybersecurity strategy remains vital to their success. Using a password manager will not only provide security and storage of customer data but can also save time for the MSP and their clients by supporting logins across all networks. It will also help to mitigate cyber risks that are encountered in the industry such as ransomware, phishing, and brute force attacks on poor passwords. Marble Box is a leading MSP that enables independent insurance companies to thrive. By managing operational services that are critical to business success and handling processes from accounting to new business support, their impressive roster of over 140 clients can shift their focus to delivering growth. As an end-to-end service provider, maintaining the sovereignty of Marble Box clients’ data was key for IT Operations Manager, Anil Gupta, so he invested in LastPass to tackle key cybersecurity challenges that were impacting MSPs and hindering their productivity. How can LastPass solve your MSP problems? Storing and Sharing Sensitive Credentials Sensitive data can be varied, but generally refers to any customer information that the MSP is responsible for protecting and the passwords used to access it. Cyberattacks often target MSPs as they store sensitive information for multiple customers, making them a particularly lucrative mark. With LastPass, you can securely store all logins in your vault. Think of it like a physical safe but for your online valuables. The LastPass vault is your home base for everything you’ve saved and with the browser extension, LastPass can automatically capture account passwords as you enter them on every website. From the LastPass vault, you can launch websites, edit login information, add notes, share login information, and more. For Marble Box, retaining access to credentials via the password sharing functionality was a key benefit of their relationship with LastPass. Gupta notes: ‘“Through the password sharing feature, being able to control visibility of the credentials required for access is also a key feature for the organization. Passwords remain encrypted and hidden which means all risks are minimized.” Strengthen Security with Multi-Factor Authentication (MFA) Maximize your benefit with LastPass by enabling MFA, which adds a second form of authentication to the login and verifies a user's identity before granting them access. With MFA, admins can deploy authentication policies that implement additional security while respecting employees’ time and work. With LastPass, authentication factors can be push notifications through authenticator apps, SMS codes or even as one-time passwords. This is simple for end users to incorporate in their day-to-day role and adds an extra layer of security. It ensures only the intended recipients retain access and visibility to sensitive information. Marble Box swiftly enabled MFA with LastPass to strengthen their infrastructure. Gupta adds: “MFA is very useful in ensuring the right people have the right access. Reporting further enables us to determine who accessed what systems, and when, ensuring that enterprises can identify whether everyone who has used the system has the appropriate level of access.” With offices based in Chicago and India, Marble Box employees are able to work safely with clients from any location, at any time. Save Time on Password Reset Tickets As an MSP, you’re aware how often password resets occur and how much bandwidth these tickets are taking up from your technicians. There is nothing worse than spending time resolving problems that could easily be avoided, especially when that time could be used on productivity. However, with LastPass, you can reduce the number of passwords each employee must remember – down to one! - thereby reducing the number of passwords reset tickets in the queue. With the LastPass password generator, you can further ensure good password hygiene and mitigate against cyberattacks. Gupta confirms: “The efficiency of having any queries or cases resolved within minutes allows us to confidently proceed with business”. With LastPass, staff can comfortably get more work done, more efficiently. LastPass is designed to enable MSPs to thrive, including functionality that simplifies the password management experience at every level as well as MFA and Single Sign On (SSO) capabilities (with 1,200+ pre-integrated applications), ultimately reducing the credential-related risk across their clients. To discover why Marble Box considers LastPass ‘a key asset that all managed service providers need in their toolkit,' read the full case study and learn how LastPass can support MSPs and help to drive their growth.