8 Reasons Your Agency Needs a Password Manager

After the COVID-19 pandemic, most digital marketing and advertising agencies have become 100% virtual. Terms like WFH, flexible WFH, telecommuting, and remote work have been filling the location field in most job posts. And at first, agency owners feared the change that came with this transition. However, it comes as no surprise that the digital sector has perfectly adapted to the times by adopting this new normal. Now, the future of digital is driven by a remote workforce.

As this is no longer a trend, agencies need to step up their cybersecurity game. With employees no longer able to do their jobs on-site on their work computers, companies need to implement new IT protocols and security policies to lessen the risk of data leaks and cyberattacks. But this doesn’t have to be so complicated. Agencies can start small, covering the bases by addressing the most immediate online security needs for companies: password security. The first thing that can be done toward that goal is to buy a password manager.

If that isn’t reason enough for agency owners to consider password managers, here are seven other reasons why your agency needs password management software.

Password managers can help increase both security and team efficiency

Password management software can help your company reduce security risks and increase the efficiency of your team. By generating complex, secure passwords that can be stored in a password manager and synchronized across desktop or mobile devices, your employees and contractors can access your accounts from anywhere and anytime, safely. And as an additional level of security, you can enable the Multi-factor Authentication (2FA, MFA) option which will work with your Master Password to safeguard the rest of the passwords saved in the password manager. You can also share your access to platforms with other team members without having to disclose any passwords! Doesn’t that save time and increase your team’s productivity as a result?

Password security policies are no longer enough to keep your agency secure

In February 2021, the biggest breach of all time, called the Compilation of Many Breaches (COMB), was leaked on a popular hacking forum, revealing more than 3.2 billion emails and passwords, which is about 40% of the planet’s population and 70% of global internet users. Unfortunately, your agency employees and contractors are likely using passwords that were leaked in this megahack. This reason alone is why you need an enterprise password manager that creates secure passwords for each platform your agency uses. That way, your workers won’t be able to use insecure or previously used passwords that could compromise your agency’s most sensitive data.

Password managers can help you keep up with new, more advanced technologies

A survey found that more than half of U.S. employees working from home are using newer, more technically advanced tech platforms, like SaaS, PaaS, and IaaS products and services and Cloud-based storage and development environments. Other tools being used more frequently are video conferencing apps, VPNs, and project management and collaboration software, to name a few. These might offer end-to-end encryption in their data transfer and communications, but if there aren’t any Identity and Access Management (IAM) policies and practices in place, mistakes can be made. These human errors could leave an open door or window for hackers that could represent a critical-level vulnerability and thus, a great attack vector. Password management software can help minimize the risk threshold by enforcing secure password creation practices all across your agency.

Password managers can be great tools for revoking access to terminated workers

Terminated employees with unrevoked access could be a security liability as well, even if they left the company on good terms. If they fall victim to a phishing attack, the attacker could be smart enough to try the same login credentials (username and password combo) to gain access to platforms your agency is currently using. They could then steal your clients’ data and escalate their privilege to do further damage. And if your employee or contractor didn’t leave on the greatest of terms, your enterprise password manager can immediately revoke that user’s access so they can’t act upon their grievances.

They assist in implementing group access policies on top of more secure password practices

Whether your agency’s IT resources are self-hosted or managed, a good role-based access control policy is key for keeping your company safe. You could easily audit your accounts and platforms to check for inactive users at least every 90 days and can revoke an independent contractor’s access once their job with your agency is done. You could also provide temporary access to workers by limiting their access to only project-related platforms and accounts.

Password management software can help you meet security compliance standards and requirements

Cybersecurity standards are crucial, as they’re the way by which an enterprise service can ensure the effectiveness of its security policies and strategy. Most digital-based agencies and companies know that by showcasing their security compliance badges on their websites, they’re letting potential clients know they’re serious about their privacy. By complying with cybersecurity standards and implementing cybersecurity frameworks, your agency could gain credibility on the web. And as a bonus, your agency could level-up by becoming a more attractive option to prospective clients from private and public industries looking for enterprise-level security solutions. Your agency could go from SMB provider to government contractor in no time!

You can implement the type of security and access control you want (and that your company needs)

Technical, administrative, and physical controls are essential to secure your information systems infrastructure efficiently and effectively. They can also be the foundation of your system security plan. It is important to identify these domains when developing your agency’s risk-based cybersecurity strategy or when using a Risk Management Framework (RMF). However, the place to start as a fully remote digital agency would be to use an enterprise password manager to implement basic technical and administrative controls. These simple changes can promote company-wide cybersecurity and risk mitigation best practices.

So, these are the reasons why your agency needs a password manager! This simple tool can be part of your agency’s risk management and cybersecurity strategy. By offering this basic protection and password sanitation measure, it can help you and your employees meet user confidentiality and data security standards. Along with a strong and detailed Privacy Policy, you could ensure that your clients’ personal identifiable information (PII) won’t be at risk of getting stolen by unscrupulous hackers.

Back to top button