Sharing passwords has become a critical component of the increasingly hybrid work environment, where teams are not only spread out across different organizational functions but separated by time zones and countries.
But are your employees sharing these passwords securely? Is collaboration coming at the expense of the security of your data? With 86% of breaches involving the use of stolen credentials, if you can’t answer these questions definitively, then it’s time to look into investing in a password manager.
Let’s dive into the challenges that may arise when sharing passwords, and why the best way to share passwords with your team is a password manager – enabling employees to collaborate more synchronously and more securely.
Challenges of sharing passwords
With countless apps, databases, and subscriptions, employees are already overwhelmed with the sheer amount of credentials they have to remember to get their work done. Add onto that the need to share passwords with colleagues to facilitate effective collaboration, and you have a formula that equates not only to reduced productivity but also puts your company’s sensitive data at risk. Passwords are a fact of work life, but Excel files, emails, and sticky notes just don’t cut it. So, what can you do to ensure productive and secure collaboration between teams?
How a password manager can help
A password manager not only remembers employees’ passwords for them but also allows them to share these credentials in a way that keeps your business’s data safe and their sanity in check.
Stronger, safer collaboration
With a password management tool, password sharing is quick and convenient, no matter how many logins need to be used across teams. And a password manager automatically creates new passwords for each site, meaning that employees are always using (and sharing) strong, unique passwords when accessing sensitive business data. These passwords are also stored in an encrypted password vault, keeping them out of sight and out of reach of bad actors.
Someone on the team changed their password? Sharing through a password manager means that shared credentials sync automatically, ensuring no one loses access after a password update. Secure sharing means less time searching for a colleague’s password and more time spent on the work that counts in your employee’s day-to-day.
Oversight and customization
For IT, secure sharing through a password manager means that admins have oversight of team accounts – knowing who has access to what and when, tying activity back to the individual user through reporting logs. Admins can also restrict at the site level or per user to maintain control, depending upon the nature of the data protected by the password. Admins are also able to create customized, enforceable security policies through the password manager, preventing, for example, users from sharing credentials outside the organization.
No matter where or when your employees work, the best way to share passwords with your team is through a password manager. A password management tool, like LastPass, keeps employees in sync, connected, and makes collaboration easier and more efficient, all while prioritizing security through encryption and admin controls to reduce the risk of a breach.
Interested in getting started with LastPass? Start your free trial here.
