Password Manager Solutions Are a Must for Every Enterprise

Privileged Access Management in action

Enterprise risk of cyber attack has increased due to improper password and key management protocols. Businesses around the world lose an estimated $2.9 million to cybercrime every minute because of ineffective password management practices. Enterprises could spend countless amounts of money on cybersecurity to encrypt data and put up firewalls, but without a strong password manager technology, none of that matters. Password managers ensure that every employee in an enterprise can keep data secure.

What Password Managers Should Include

With a long list of password manager technologies, it can be difficult to know which option is the best enterprise solution. To effectively keep enterprises secure, password managers should provide unique, strong passwords for each employee’s accounts. In addition, this technology should make sure all password details are completely secured, locked in encrypted storage and should remove the hassle of resetting forgotten passwords or managing account access. As the only four-in-one solution on the market, RevBits Privileged Access Management provides the strongest password manager tool available. RevBits Privileged Access Management Password Module, in addition to the above features, includes native clients for all common operating systems & browsers and files all web application passwords. Additionally, zero-knowledge encryption is used to ensure the safety and security of all user passwords.

Why Not Having a Password Manager Solution can be Troublesome

Voova, a software company in the U.K., experienced an attack from an increasingly prevalent type of cybercriminal: a disgruntled former employee. After an employee was fired from Voova, he stole a former coworker’s AWS login information and deleted over 20 of the company’s AWS servers. As a result, Voova lost out on big contracts and was never able to recover the deleted data. If Voova had proper privileged access management software and practices in place, the company could have recognized the abnormal behavior from the login and stopped the attack from causing as much damage as it did.

With the ever-changing threat landscape, every organization’s approach to cybersecurity should be fluid and dynamic. The only way to properly have a dynamic approach to cybersecurity is through multi-layered cybersecurity procedures. Part of every enterprise’s cybersecurity foundation should be a strong password manager solution. With RevBits privileged access management, enterprises not only get a powerful privileged access management and key & certificate management tool, but they also get the strongest unique password manager solution on the market.

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