All enterprises perform operations like product development, product delivery, identity management, inter-organizational transactions, adding employee & employers’ credentials, and maintaining the company’s records; these business processes are maintained through user accounts and passwords. In order for all business operations to perform safely through user accounts, Password Management acts as a foundation to maintain user credentials and provide safe access to all web applications and workstations.

What is Password Management and how is it effective for an enterprise?

The practice of controlling passwords for privileged accounts, systems, applications, and various services within an enterprise is termed password management.

Enterprise password management software provides security measures to prevent internal and external threats from stealing credentials, passwords, tokens, and keys in order to gain access to sensitive data and information. Password management solutions are available, both on-premises (local servers) and on the cloud network (remote servers).

Why do we need password management?

The term “password manager” refers to software or programs that maintain, create, and manage passwords for applications and web services and store them in an encrypted database. By using password management, you’ll be protected from phishing attacks, and unwanted authentications and provides a better security system with easier access to web applications.

*51% reuse passwords across their business and personal accounts which lead to cyber and phishing assaults through bad actors. (Microsoft Word – Yubico report Final 9.docx)

Benefits of using Password Management:

AuthX- Password Management Solutions.

Now that you know password management plays a vital role in business operations, let me assist you in determining which password management application is best for you or any enterprise, regardless of its size.

AuthX – Experience Frictionless Authentication system, provides the best identity and access management solutions for any form of industry or enterprise.

To maintain a seamless business operation across your enterprise, deploy the AuthX application to optimize user credentials, create, delegate, and assign passwords to web applications and add Multi-Factor Authentication (MFA) for enhanced security.

With AuthX’s multiple authentication factors, users can perform authentication without the need for a written password.

5 Simple methods for implementing password management with AuthX

1.Implement Two-Factor Authentication with AuthX

One of the primary features of AuthX is Multi-Factor Authentication (MFA) or Two-factor Authentication (2FA). AuthX MFA provides the best authentication solutions which help you from unauthorized access, and phishing attacks and provide secure access to web applications, & seamless authentication to workstations.

AuthX MFA allows you to govern users’ identities with a powerful authentication system, protecting your organization from malicious malware and creating a safer workplace environment for all the users in the enterprise.

2. AuthX – Advanced Authentication Methods

An enterprise that is handling sensitive data and information such as banking, financial industry, credit card companies, and payment websites will need an enhanced authentication system for the user to perform authentication without any friction.

AuthX offers advanced authentication methods such as Biometric authentication which includes facial recognition and fingerprints. Mobile authentication where OTP is sent to a registered mobile number for user identity & device verification. RFID Authentication for Tap–in and Tap-out to authenticate within your enterprise.

3. End-to-End Encryption with AuthX

AuthX can expand its functionality to an individual or an organization while maintaining end-to-end encryption. As a result, it lowers the risk of phishing attacks through bad actors and improves the quality of the workforce.

As today’s workforce becomes more mobile, AuthX application allows the IT department to manage credentials for users who can access them via cloud computing (remote servers) or on-premises (local servers) without any interruption, preventing hackers from infiltrating user workstations.

4. Multiple groups of User Accounts can be Protected

You can manage passwords for individual users or groups of users, assign them unique authentication factors, and govern and delegate access to only the online apps you wish to access. An enterprise can manage passwords quickly across several users and create reports in a timely way using this feature.

Make creating passwords and assigning users to shared workstations easier with AuthX. Existing user credentials can also be used by AuthX to simplify access to business resources and track each authentication attempt made by the user.

5. Ensure Secure Connection

There is a high probability that any enterprise user can access an unwanted website or receive a phishing email, both of which can lead to cyberattacks or the installation of dangerous malware.

With AuthX, you can solve this issue by giving users a strong authentication factor and seamless access to a secure network, as well as preventing malicious actors from obtaining access to your credentials.

5 Best Practices of Enterprise Password Management

Reduce your organization’s use of passwords. Go passwordless and adopt AuthX single sign-on (SSO) systems and connect with multiple web applications with a single login.
Encourage your staff to implement various authentication factors instead of typing long complex passwords.
We should discourage employees from storing passwords in plain sight or in their files, making them easy to find.
Keep your software up-to-date all the time. It is necessary for keeping the workstation upgraded.
Avoid using shared passwords.Sharing passwords even among office employees can result in unauthorized authentication.

Conclusion

Password management is a critical component of any business’s ability to operate in a secure way. Deploy AuthX immediately in your organization to experience password management like never before!

Enterprise Password Management solutions for secure access to devices.