As a business owner, you must ensure that your team are using password management tools. More than 60% of data breaches are as a result of weak or stolen passwords, and around 30% of people remember their passwords by writing them on post-its.
With your business relying almost completely on virtual operations, defending your business against cyber-attacks is a business-critical task. The research firm Cybersecurity Ventures estimates that by 2021, the cost of cyber-crime will cross $6 trillion annually, worldwide. Whether your business employs 4, 40 or 400 people, you could be at risk from cyber-attacks.
Password management, including strong password policies is one way to protect your business from cyber-attacks. Your company should have an IT policy which requires strong, complex passwords. This means passwords of at least eight characters with a combination of uppercase and lowercase letters, numbers and special characters. Passwords should never be reused for more than one account.
Password management tools are effectively a ‘one-stop-shop’ for storing and protecting your passwords. You simply have to remember your one master password and the password manager does the rest. Password management tools automatically save and protect all the passwords you use for different accounts, so you don’t need to enter them every time you access a site.
Some of the advantages of using a password management tool include:
- People often use the same password for many accounts so they don’t have to remember multiple passwords. This is incredibly dangerous for your business as it can cause your business to be compromised in many areas with a single password.
- Often, weaker passwords are used as they are easier to remember. These are easy for hackers to guess and again could compromise your data.
- Complex passwords of at least 8 characters with a combination of uppercase and lowercase letters, numbers and special characters are often difficult to create. Therefore people usually create simpler passwords which are easily hackable.
- Lost or forgotten passwords are the cause of a lot of lost productivity while the employee contacts IT to regain access. With a passport management tool, passwords can’t be lost and they don’t need to be remembered.
- It’s easier to frequently change passwords as you don’t have to remember or note down the new ones. If your business requires employees to change their passwords frequently, password management tools make this easier to enforce.
- Whilst most browsers have in-built password management, these are not secure enough for your business to rely on. You need to ensure you are using a secure password management tool to protect your data.
- Password management tools can sync to the cloud so they can be accessed from whichever device you use. Therefore your employees can access their accounts from wherever they are working.
With more people working remotely than ever before, now more than ever cybersecurity should be a top priority for your business. Asking your employees to use a password management tool can help protect your data.
Cardonet can provide you with a comprehensive range of cyber security services to help you stay secure and, at the same time, help you demonstrate compliance with industry and regulatory standards. Discover how we can help you with cyber security services.
If you are concerned about cyber-attacks would like to know more about password management, call us on +44 203 034 2244 or +1 323 984 8908 Alternately, you can contact us online. We will be happy to help you overcome your hotel IT challenges so that you can improve your guest experience and set your hotel apart.
Cardonet have been working with businesses for the past twenty years to help them overcome their technological challenges. We have engineering bases in the United Kingdom, Europe and Southern California and our group of highly experienced engineers are available 24/7 to assist and ensure that your IT infrastructure is secure and running seamlessly.
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