Why It Is Worth Investing In Password Management

Lately, many brands as well as  CEOs have been involuntary involved in cybersecurity related headlines. But the truth is that many companies do not know where to start in their crusade to solve security problems. 

You should never take cybersecurity threats lightly! 

In this article, you’ll discover how a password manager for small business can help you end the risky password practices in your company. 

Large Companies Are Not The Only Ones At Risk! 

Being up to date with new types of cyber security threats and best practices to avoid them should be amongst your top priorities. A study by IBM reveals that the cost of data breaches has increased to an average of $8.19 million in 2019. 
After reading these statistics, you may assume that such breaches only happen to big corporations. However, attacks against SMEs are growing at an alarming rate.  
The protection of your company’s and customers’ assets should be your top priority, especially if your customers provide you their confidential information. You don’t want to be vulnerable to possible attacks that may cost you your business. 

Password Manager for Small Business 

A password manager for a small business can save you from losses. However, most small businesses do not devote enough attention to this issue.  
Why do small companies not care about cybercrimes? 
Keep reading to find out! 

That Will Never Happen To Me! 

One of the main reasons is that many companies assume that they can't be the next victims. But the reality of cyber attacks is far from this vision, so this assumption is risky. 
Data shows that cybercriminals are opportunistic, they choose their victims at random and their goal is to get easy money. Unfortunately, small businesses are often easy prey in this regard.  
If you thought you were safe because you’re not the size of LinkedIn or Sony, the time has come to change your mind and recognize the looming risks. 

I have no time! 

Do you always think that implementing correct prevention measures takes too much time? You’re not alone, this idea is widespread! 
Surprisingly, if you abide by it and lose, the cost will be much higher.  A 2018 report reveals that 60% of small businesses in the USA that suffers a violation of their data disappear in six months. It's undeniable that you must devote time to finding the right technology for your company, learning and implementing it.  Also, ensure you find an ideal password management solution for your company. 

How Do You Protect Your Passwords? 

  • Use a long and complex password. Combine symbols, numbers, letters, etc. 
  • Do not use very common expressions. Cybercriminals know that people like to use a well-known phrase as a password. 
  • Avoid using the same password twice. Cybercriminals may not be able to decipher it, but they can steal it from another service you use and then use it to access your other online accounts - this is more common than you’d think. 

If you do not protect your company from cyber attacks, you are putting it in a very dangerous situation.  

Summing Up! 

You now know how a small investment in cybersecurity can save you millions of dollars in losses.  
Remember, cybercrime does not stop growing. The time to protect your company with a small investment is now. Take action and get a password manager for small business. 

  Modified On Nov-25-2019 01:44:34 PM

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