Small business password manager: Save time and money

Small business owners wear many hats. While they may not have an in-house IT expert, employees across the team contribute to company cybersecurity.

However, being a small business with limited resources doesn’t minimize the risk of data breaches and other cyber threats. In fact, Accenture’s Cybercrime study reveals that 43% of cyber-attacks target small businesses.

What if a simple, cost-effective tool could secure your business without adding more to your plate? Enter: password manager. 

A password manager securely generates, stores, and autofills credentials, making logins fast and secure for you and your employees. A master password unlocks the encrypted vault of stored credentials. Using a password manager helps eliminate forgotten, weak, or reused passwords while streamlining access across your business.

Small businesses rely on a secure password manager to:

• Ensure employees have access to the business credentials they need when they need them.

• Provide a seamless login experience that saves time.

• Improve business security with encrypted storage and secure password sharing.

• Enable easy and secure employee onboarding and off boarding.

• Audit and strengthen company-wide password security in real-time.

• Generate secure, unique passwords for every account

Many small businesses still rely on risky, outdated methods for storing and sharing passwords:

• Spreadsheets: Easy to copy, easy to steal.

• Sticky notes & notebooks: Easily lost and impossible to track securely.

• Memory: Leads to forgotten passwords and time-consuming resets.

• Personal storage (e.g., browser password managers): Lacks sharing and security controls.

Improper password storage methods may seem convenient at first, but they introduce security risks that could lead to costly data breaches, wasted time, and frustrated employees. Centralizing password storage is essential to enhance password security and streamline operations, thus protecting sensitive information against unauthorized access.

We’ve all been there:

• Three failed login attempts, and you’re locked out.

• A reset email goes to an old, inaccessible account.

• A two-factor authentication (2FA) code is sent to an employee on vacation.

• A coworker changes a password without telling anyone, leaving the team locked out.

These issues multiply for small businesses. Employees juggle dozens of business passwords and accounts, and without a centralized system, password chaos can disrupt productivity and security.

Using the best password manager (G2) can help alleviate these common password management struggles.

While built-in password managers like Apple Passwords or Google Passwords can be convenient for individuals, they fall short for small businesses. Here’s why:

• Lack of secure sharing: Employees can’t easily share business passwords when needed.

• Limited cross-platform access: Business passwords may be locked into a single device or ecosystem.

• No business controls: Admins can’t manage user access or enforce security policies.

To overcome these limitations, organizations should consider the best business password manager that balances security and usability, providing features beneficial for enterprise environments.

Increased password security

A business password manager can significantly improve an organization’s defenses by storing all passwords in a secure, end-to-end encrypted vault. This ensures that sensitive information remains protected from unauthorized access.

Moreover, a business password manager helps enforce robust password policies, requiring complex passwords and regular updates. This mitigates the risk of data breaches and cyber attacks, which are often caused by weak or reused passwords. With a business password manager, you can rest assured that your business passwords are safeguarded against potential threats.

Streamlined access management

Managing access to sensitive information can be daunting, but a business password manager simplifies this process. By providing a centralized platform for password management, you can easily grant or revoke access for employees, contractors, and partners. This centralized control reduces the risk of unauthorized access and enhances overall security.

Additionally, features like single sign-on (SSO) and multifactor authentication (MFA) further fortify your security measures, ensuring that only authorized individuals can access critical business systems. With a business password manager, streamlined access management becomes a reality.

Easy onboarding & offboarding

Onboarding and offboarding employees can be complex, but a business password manager makes them seamless. When a new employee joins your organization, you can quickly grant them access to the necessary passwords and systems, ensuring they can start contributing immediately. Conversely, you can swiftly revoke their access when needed, preventing any unauthorized entry. This efficient management of access rights reduces the risk of data breaches and enhances overall security. A business password manager simplifies these transitions, making them smooth and secure.

Simplified employee workflows

A business password manager can transform employee workflows by providing a secure and convenient way to access passwords and systems. Automating password management means employees no longer need to remember complex passwords or deal with password-related issues. This allows them to focus on their core tasks, improving productivity and reducing the risk of errors.

Leveraging a business password manager can enhance password security, streamline access management, simplify employee workflows, and mitigate the risk of data breaches and cyber-attacks. A business password manager is an indispensable tool for protecting sensitive information for organizations of all sizes.

Jan, a marketing manager, needs to fix an urgent mistake in an ad campaign. The login credentials are saved in her Apple Passwords app, but they don’t work. The correct password? Stored in her assistant Kevin’s personal password manager—on his phone, at the bottom of his backpack, while he’s trekking through the Alps.

Without a centralized, business-grade password manager, small businesses risk unnecessary delays, security gaps, and lost productivity. A password manager is crucial for companies to enhance security, boost productivity, and maintain credential security across various platforms and devices.

Bitwarden Password Manager is built for quick and easy small business adoption. As a trusted open source password manager, Bitwarden offers transparency and security through third-party audits. Offering both admins and end-users:

• Easy adoption: Quick setup and simple management.

• Secure access for teams: Seamless password sharing with end-to-end encryption.

• Affordable plans:

  • Teams password manager plan: Just $4/user/month—pays for itself by saving valuable company time and reducing employee frustration. Start with a free 7-day trial.

  • Enterprise password manager plan: All the features for only $6/user/month, the best value among major password managers. Try it free for 7 days.

Bitwarden is the only major password manager offering a fully-featured free plan. Get started with a personal account and unlock a better life online.

Secure your business and simplify password management today. Start your free trial or create a free account now!