75 percent of data breaches stem from compromised login credentials.
Every day hackers gain access to company networks through exposed or poorly protected login information. According to the Verizon Data Breach Investigations Report (DBIR), 75 percent of data breaches stem from compromised login credentials. A leading cause of this is the use of easy-to-guess or reused passwords, practices that have only increased in this hybrid working environment where employees are working from home networks, often using their own devices loaded with unauthorized software and online services — shadow IT.
In business, growth is everything. But with each employee you bring on board, another potential access point for bad actors looking for entry is created. According to 1Password research, 91 percent of workers understand the risks of reusing their password, but 66 percent of employees do it anyway, largely because it takes less effort. They’re not lazy; they’re busy and stressed. Partners like 1Password make it easier to create and autofill a unique, secure login credential, taking that burden off the employee and the IT department.
Secure password management can save your employees hours of stress and lost productivity from being locked out of their devices and accounts and the time spent on the phone or chatting online with IT. But 1Password can save your company more than just time and irritation. That’s because, for 1Password, it’s not just about creating and storing strong and unique login credentials — it’s also about building foundational security policies, rules, monitoring, and reporting that are customized to your business needs. For instance:
For password managers like 1Password, security is more than an app, feature, or add-on – it’s the foundation of your digital defense. Password management isn’t just about shoring up your company’s security — it’s also about streamlining workflow. That means relieving your employees of the added time and mental effort of managing their online credentials, taking unnecessary tasks off their plates, and in the process, reducing inefficiency and frustration so that they can perform the tasks you hired them to do. After all, a true partner is there to help shoulder the load.
The larger problem is that, in addition to stealing your data, these threats are also stealing your time. Think about how much time you and your employees spend resetting passwords, talking on the phone to IT about login credentials, or worst of all, being locked out of their accounts when they desperately need access to service your clients.
The good news is that you are not powerless. All you need is the right partner.
Password managers make it easy for your employees to generate, store, and autofill strong passwords, bolstering your company’s security against would-be attacks. And some password managers like 1Password do more than just protect your most valuable information and data — it can also streamline and accelerate productivity, protecting and powering your company into the future.
Beyond password management
Privileged access and collaboration — This means not just securing all shared applications, but even individual files shared with vendors, customers, and partners. Also, you can lock down files and data storage to share private spreadsheets and documents with trusted third parties — you can even temporarily and securely share secrets and files with recipients who are not 1Password customers.
Lowering the SSO (Single Sign-On) tax — One of the most frustrating developments in recent years has been vendors up-charging customers for Single Sign-on (one password for all applications) — the so-called “SSO Tax,” which is either charging more per app added and/or tacking on additional fees for each employee. In fact, many vendors make SSO part of a special enterprise tier that is cost-prohibitive for smaller companies and start-ups.
Audit IT access — Many apps and software come into the workplace via shadow IT, which are apps and tools employees use without the approval or knowledge of the IT department. These apps are not centrally managed, and that can leave you exposed to multiple entry points. 1Password can store logins of any type — password-based or federated — which allows you to easily work with department heads to audit software usage and inform budget allocation.
1Password can help productivity throughout your company, large or small, by streamlining and simplifying security operations. They’re not just there for the installation. They can also make it easier to monitor employee usage, manage access, share credentials, and generate reports that will give you insight into possible breaches, password health, and more from a unified dashboard so you can take immediate action.
1Password makes it easy for you to create, manage, and enforce policies to govern how and where employees use 1Password.
A true partner in security
It’s also private by default, protecting passwords and sensitive information so neither 1Password nor anyone outside of your company can see, use, or share it. And through regular third-party audits and the industry’s largest bug bounty, 1Password can protect your business from all sorts of attacks.
Over 150,000 businesses trust 1Password. If you are just part of a small team, the 1Password Teams Starter Pack secures up to 10 people, regardless of which devices or web browsers they use for work. And if you have a larger team, 1Password Business will work with you to find a solution that meets your company’s model and needs.
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91 percent of workers understand the risks of reusing their password, but 66 percent of employees do it anyway, largely because it takes less effort.
Increased employee productivity worth $158,000.
For example, a CFO at a Fortune 100 company recently told 1Password that they probably spend over $350,000 every year on password resets solely driven by call volume. That’s not even accounting for the loss in productivity: waiting for the help desk to reset passwords every six months or getting locked out of accounts right before key meetings or calls.
Password managers help create random passwords for every application and reduce the need for mandated password rotations. The Forrester Total Economic Impact report found that companies who partner with 1Password saw a 70% reduction in help desk tickets — resulting in more than $1 million in productivity benefits.
The study also found that 1Password partners saw other benefits like:
A 206% return on investment (ROI), with benefits totaling $1.3 million over three years.
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CFO at Fortune 100 said they spend over $350,000 every year on password resets solely driven by call volume