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Top 6 corporate password manager software for 2023
As businesses continue to rely on technology to manage their daily operations, the need for effective password management software becomes increasingly important. Not only do businesses need to keep their own sensitive information secure, but they also need to protect their clients' data from potential breaches. This is where corporate password manager software comes into play.
Let us look into key features to look for in a corporate password manager before discussing the top six corporate password managers.
Key features to look for in a corporate password manager
- A corporate password manager should allow administrators to centrally manage user access and permissions.
- Securely sharing passwords among team members is essential in a corporate setting.
- Multi-factor authentication adds an extra layer of security to password management.
- Look for password manager software to integrate with your IT systems and tools.
- Password managers should offer robust auditing and reporting features to comply with regulations and policies.
Now I will introduce you to the top 6 corporate password manager software for 2023.
Dashlane is a password manager that offers a range of features designed specifically for businesses. With Dashlane Business, businesses can securely store passwords, share them with team members, and enforce password policies to ensure that passwords meet specific requirements. Dashlane Business offers advanced security features, such as two-factor authentication, to protect against potential breaches.
- It has a simple and intuitive interface that is easy for employees and IT administrators.
- It offers advanced security features such as two-factor authentication & biometric authentication.
- Corporate password manager solutions can be relatively expensive for small businesses.
- While it offers basic administrative features, it does not have as many options as other business password managers.
- $8 per seat per month when billed annually
LastPass is a cloud-based password manager. With LastPass Enterprise, businesses can store all of their passwords in a secure vault, access them from anywhere, and share them with team members as needed. LastPass Enterprise also offers advanced security features, such as multi-factor authentication, to protect against potential breaches.
- Provides comprehensive admin controls and user management features.
- Offers a secure password-sharing feature for team collaboration.
- The password-sharing feature can be confusing to use for some team members.
- You may experience occasional syncing issues between devices.
- Contact sales to learn more about Enterprise pricing
Keeper Security is another popular password manager for businesses. Like LastPass Enterprise, Keeper Security offers a cloud-based solution that allows businesses to securely store and share passwords. However, Keeper Security also offers additional features, such as password rotation, which automatically changes passwords on a regular basis to prevent them from being compromised.
- Password rotation feature that changes passwords on a regular basis.
- Provides strong encryption and multi-factor authentication options for added security.
- Advanced features, such as single sign-on (SSO), require an additional cost.
- The user interface may feel overwhelming for new users unfamiliar with password managers.
- Request your quote for Keeper Security Enterprise
Manage Engine Pro
Manage Engine Pro is another corporate password manager with a complete solution to control, manage and monitor passwords. Manage Engine stores all of your account information in a centralized and fully encrypted vault. The product enforces best practices of password management. It helps mitigate security issues, breaches and compliance issues.
- An easy-to-use solution with excellent password security.
- Good assistance from customer service crew.
- Remote file copying option may be complex.
- The UI could have been more user-friendly.
- Request your quote for Manage Engine Pro
Zoho Vault is a password manager for business teams. This product stores all your passwords easily and provides easy access. Safely shares password among team members while granting different access privileges. It helps you directly connect to websites and applications without having to enter your credentials manually.
- This is incredibly user friendly and highly safe.
- Ideal for organizing and distributing password among team.
- Free version has limited features and storage capacity.
- The customer support may not be the best.
- Enterprise pricing starts as $8 per month
Bitwarden is an open source password management solution that empowers enterprises to securely store and share sensitive data with end-to-end encryption. The password manager generates strong and unique passwords. The autofill feature makes it easy and secure to log into any accounts. Access your credentials from anywhere.
- Generate random password and save your existing password.
- The best part is, it is open-source.
- The browser plugin can be a bit clunky.
- No automatic rotation of passwords.
- Enterprise pricing starts as $5 per month
Potential Risks with Corporate Password Manager
Using corporate password manager software can come with certain risks, including:
- If the password manager software is compromised, it could potentially lead to a major security breach.
- Passwords may be shared or saved in insecure locations, defeating the purpose of the password manager software.
- Malicious insiders may try to access sensitive information using password manager software.
- Personal devices to access the password manager software, brings lack of control over the security of these devices.
To mitigate these risks, companies can take the following steps:
- Choose a reputable password manager software provider that offers robust security features such as multi-factor authentication and encryption.
- Train employees on best practices for password management, including not sharing passwords and using strong and unique passwords.
- Implement strict access controls and permissions to limit the number of employees who have access to the password manager software.
- Regularly monitor and audit the use of the password manager software to identify any suspicious activity.
By taking these steps, companies can effectively manage the risks associated with using corporate password manager software and ensure the security of their sensitive information.
Drawing the curtain
In conclusion, effective password management is essential for businesses in today's digital age. By using corporate password manager software, businesses can ensure that their passwords are stored securely, shared with team members as needed and protected against potential breaches. Each of these top 6 corporate password managers offers a range of features designed specifically for businesses, including advanced security features such as multi-factor authentication and password rotation. By investing in corporate password manager software, businesses can ensure that they are taking the necessary steps to protect their sensitive information and that of their clients.
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Top 6 corporate password manager software for 2023 FAQ
What features should I look for when choosing a corporate password manager?
You can look for features like multi-factor authentication, auto-fill capabilities, secure sharing, and robust encryption.
What are the benefits of using a corporate password manager?
A corporate password manager provides a secure, centralized platform to store and manage passwords, as well as other sensitive or confidential information. This helps to improve security, reduce IT help desk costs, and improve employee productivity.
What should I look for when selecting a corporate password manager?
When selecting a corporate password manager, look for features such as secure storage, multi-factor authentication, granular access control, audit logs, and integration with existing systems.
Is a corporate password manager secure?
Yes, a corporate password manager is secure. It provides the highest level of encryption and authentication to protect data. Additionally, it offers features such as auditing and multi-factor authentication to ensure only authorized users can access data.
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