3 Steps On How To Manage Your Business Accounts and Logins
Business owners and managers: Have you ever had a staff member leave your organization only to soon realize that they possessed the login credentials to a company-owned account? Have you had to chase them down by phone and email just to try to get control of your company assets? Maybe you’ve even tried contacting the vendor directly only to burn a bunch of precious time and not get a solution.
You’re not alone if you have experienced any of these fairly common login and account issues, thousands of other businesses deal with these types of issues everyday. Fortunately, there are solutions that will help you preempt these problems before they even start. By following these 3 best practices, you can avoid missteps that could cripple your company at an inopportune time.
1. Invest In A Great Account & Password Management Software
Working with easy tools such as LastPass will ensure your account passwords are encrypted. Your company accounts are stored in a vault-like system that is easy to find and share with your staff. LastPass will help organize passwords within your organization and will keep you informed when passwords have been changed. If a member of your team leaves your organization, you’re protected because LastPass gives you full administrative and permission controls.
2. Delegate Account Access To Your IT Department
As a business owner, delegating responsibility will assist your company with account and password management. This approach not only helps businesses stay organized, but offers cost efficiencies so that departments in need of the same software can leverage bulk purchasing power of software licenses. Additionally, having centralized management of accounts allows for good security hygiene, like 90-day password changes and purging users no longer with your company.
3. Secure Your Data With Multi-Factor Authentication (MFA)
Once your account management is centralized, the next step is to ensure your data is secure. Multi-factor authentication requires users to provide 2 or more verification methods to gain access to an account. Some examples of multi-factor authentication are:
A one-time passcode (OTP) sent via email or SMS.
Answer to a personal security question.
Biometrics like a fingerprint or face ID.
The power of multifactor authentication is immense. According to Microsoft, you can reduce your odds of being compromised by up to 99.9% by requiring multi-factor authentication in your organization.
Need Help Recovering Lost Passwords Or Implementing An Account Management Plan? Contact Us For A Free Consultation.