When you connect to your office or company’s website to access its network and data resources, you most often connect through a VPN (Virtual Private Network). The reason you do so is to ensure authentication. An authentication is required to ensure you as an employee of a company can have access to the data. Most of us, even the best certainly do not get to create the best passwords all the time. Strong passwords are critical in ensuring security and the truth is most of us exhaust all password combinations and end up reusing old passwords many a times for the vast array of accounts we need to operate.

The essence of enterprise password manager software lies in the fact that it reduces the common error most of you make – choosing weak and reused passwords. It is a great risk management tool for your organization and can save you hefty amounts of money. Compromising your password that links to multiple accounts can cost you a fortune. This software not only helps you prevent this from happening but also adds layers of security to ward off potential hackers from getting into your private network and access all the critical sensitive information out there. This is a solution that is at the forefront of your organization’s data security. With very little effort, you can manage all your passwords with a manager in a hassle-free manner, besides keeping track of your company’s compliance policies.

There is a vast array of products and solutions available in the market – while some of these are more tactically oriented to suit customer facing businesses, there are still others that take care of business facing organizations as well. The market gets all the more crowded with software as anti-virus companies are coming up with their own solutions integrated within the anti-virus to take care of this need. The availability of substitutes make it all the more difficult to recommend any which is the best. You need to carefully consider your organization’s specific needs before plunging in and choosing one of these. Here is a quick list of benefits that password managers bring along.

Increase in Efficiency

Password managers help in hassle-free password sharing among multiple users as well as platforms thereby enabling alterations in passwords frequently. This improves the efficiency of the daily operations in addition to increased security.

Strengthens Security

The passwords that you enter into a manager are stored in a centralized vault in an encrypted form so that these are absolutely confidential and hard to be hacked. By continuously tracking and monitoring usage of passwords, managers also ensure strict audit requirements and enforce policies more easily; for example you are not allowed to enter a simple password of your choice – you need at least 6 characters and a combination of characters, alphabets and special characters thereby enforcing your password to be strong and resilient to hackers. Such tools ensure compliance requirements are met and have centrally exercised controls.

Time Saving

These tools also eliminate the need for manual password resets thereby saving a lot of your time.

Risks of a business depend on a gamut of factors including how the data is shared i.e. sent and received over networks. Password managers come with the best interest to ensure safety standards of user data.