How To Choose The Best Enterprise Password Management Tool?

When it comes to enterprises, there are a lot of moving parts. There is a large number of staff, several departments, and many applications being used for work purposes. This can create a huge security risk. There very likely isn’t an enterprise business in the world that doesn’t store data digitally, or use online applications and software. With so many people involved, there are many opportunities for hackers and criminals to access that data. 

Instead of just leaving everyone to choose their own passwords, an enterprise password management tool is a more secure solution. This type of service will not only store everyone’s passwords, but keep them secure so that they can be as complicated as possible without fear of forgetting them. They often have military-grade encryption to make sure they can’t be hacked or accessed. However, with security being so important, you need to make sure that you have the right one for you. Here’s how to choose the best enterprise password management tool. 

The Most Important Factor is Security

When you are looking for the best password management tool, your most important consideration should be how secure it is. Security is why you are looking for a solution, so it should not be sacrificed.

Password management tools work by storing passwords for individuals on their personal devices or on a cloud server that can be accessed by management or IT professionals. While the cloud is more common for enterprises since it means that the password vault can be accessed from anywhere, you may wish to have things more localized with less potential exposure to the internet. Whatever is more secure and comfortable for your enterprise is what you should choose. 

You also want software that provides additional security options. It’s one thing to be accessed by a strong password, but they should also offer two-factor authentication and biometric options, such as facial recognition and fingerprint scanning. This provides you with a stronger vault and more peace of mind. 

Is it Compatible With Everything You Use?

Beyond security, the other thing you want is a program that works with the software, hardware, and devices that you already use. Your passwords and those of your employees will be on devices and personal computers all around your enterprise. If your manager doesn’t work with everything that your employees use, then it won’t be very helpful. It should also be compatible with all of the most common operating systems and browsers. 

Many of your employees will use several devices just by themselves. For instance someone may use a desktop at work, but bring work home and use a laptop. Or, they check their email using their phone. Your password manager should sync easily between all of those devices so that there is no loss of functionality when switching devices. Cloud-based programs can provide this functionality, but desktop and local-based programs also can in a more limited way. 

Is It User-Friendly?

Many programs can offer additional features beyond simply storing passwords. Some of those can be security-related, such as the biometric and two-factor authentication features already mentioned. You want your program to be accessible and as simple as possible for everyone in your enterprise. You probably have employees who have various levels of comfort with technology, so if the program has a lot of jargon and difficult language then it will be hard to use. 

It’s always good to choose a program that has extra features. Even if you don’t use them right away, you may want that functionality down the road. Some of these features can include alerts if someone has a password that is too weak, regularly scheduled password updates, and security suggestions for every application that requires a password. All of htse features can make your network more secure and help your employees be safer with their passwords. 

Budget

While it would be nice to have an unlimited budget for your security, it’s simply not realistic. Every business, enterprise or otherwise, has some kind of budget, and you need to decide what will work for you. There are free options out there, however, they are not as secure and do not have extra features. You can expect to pay as much as $100 a year per license for the most sophisticated and feature-packed options. You will have to balance your need to stay within a budget with your need to keep your data secure. 

Security should be one of the top priorities of any enterprise. However, it’s hard to track all of the passwords that your employees are using. THey need to be strong, which means more complicated things. This can make them hard to remember. With a password management tool, you can ensure that your staff have strong passwords that are stored safely in case they need to be accessed.