Why do you need a team password manager?

If your password is not “123456” or “qwerty”, you’re well on the way to cyber security, and if you combine different types of characters, you’re doing better than millions. However, if your team members share passwords in a plain text document, your cautiousness is futile. Each team member should see only what they’re supposed to see. Read how Passwd helps reinforce the security of your company.

First of all, we are not going to discuss personal password managers in this article, although some of what we say here applies to those too. We will focus on password managers for teams. If you want to learn more about the difference between personal and team password managers, we recommend for you to read this post first.

Safe team access management

Access control is even today the missing link in the efforts of companies to make their access management truly efficient and safe. With plain text documents full of passwords that are still passed around in companies, you can hardly control who can use which password and to what end. In Passwd, you can give your team members access to passwords based on their role and individual needs. 

Moreover, you can grant access to more people at once, which is a great advantage if your company is bigger or divided into independent departments. Your designers don’t need access to accounting software, and your accountants don’t need access to design software. Just use the existing groups from your company Google Workspace (formerly G Suite) account. And if there is any trouble, you can update the password in Passwd and your team is immediately ready to continue with their work.

Encryption

Service, username, password. Storing and sharing team passwords in an excel sheet or text document in plain text is the riskiest thing you can do with them. The security level of your storage may be high, but if your former employee accidentally causes your document to leak, all your accounts can be stolen within minutes.

Encryption, however, renders your credentials unreadable, and therefore useless, in case they leak. Imagine your password is “qwerty”. This is what you type in when logging in to a service. But what the attacker gets is the encrypted form. It can be something like this: o4aoDr53dsqWq01eodk. So even if the database with your password leaked, nobody has your actual password – no matter how simple it is.

Your company is GDPR compliant(er)

The General Data Protection Regulation specifies and overhauls the regulations that have previously existed in the European Union. The ultimate goal of GDPR is to give people greater control of their personal data. And a team password manager can help you a great deal. Here’s a short list of its key GDPR related benefits:

  1. Private cloud: Your data is stored on your own private cloud that only you can access.
  2. Encryption: Access to your account and your data are encrypted.
  3. Access control: Access is granted only to authorized people based on their needs.
  4. Backup: All your data is backuped, so you don’t need to worry about losing it.

Passwd is a GDPR and SOC2 compliant app. However, it is up to the user to take appropriate measures when giving access. We recommend reading more on the official website.

The greatest advantage of Passwd as a team password manager is that it allows for secure delegation of access in your company. Moreover, your data is stored in your private cloud. Encrypted. And, last but not least, the user interface is pretty cool. Check it out.

Watch the video below to learn more about Passwd.

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