Did you know that cybercrime will globally cause about $10.5 trillion in damage by 2025?
As businesses worldwide are getting used to the new normal of conducting business operations online, cybercrimes against businesses are becoming quite common these days.
You may have heard about cyberattacks against big companies such as Sony, Microsoft, Google, Marriott, etc., in recent years. Unfortunately, this may give most of us an impression that cyber terrorists only target the “big bulls” out there.
However, this is quite far from the truth.
In fact, according to a study conducted by cybersecurity giant Symantec published by Bentley University, over 36 percent of cyberattacks are targeted towards companies with 250 employees or less.
Thus, both big and small businesses are equally susceptible to cyber attacks.
Another jaw-dropping fact is that, as per a study by tech leader IBM, about 95 percent of all cyberattacks result from some form of human error.
So, as a business owner, the easiest and best way to protect your business from cyberattacks is by safeguarding your employees online from malicious cyber activists.
And how can that be done?
Well, using a password manager is one of the easiest solutions. And for business use, PassCamp is a great choice.
What is PassCamp Password Manager?
PassCamp is a “Password Manager.”
For the unaware, a password manager is a software tool that allows the users to generate, store, use, and manage all their account passwords in a single place.
Basically speaking, a password manager tool is like a secret vault that only the master user (the account owner) can access.
This vault stores passwords, but it can also suggest complex passwords that are tough to break for hackers and let you use them efficiently on login screens without having to key in the credentials each time.
How PassCamp Helps Businesses Protect Their Employees Online?
So, how can PassCamp help business owners protect their business data and other sensitive information by safeguarding their employees online?
To get a better understanding, let us go through the business-friendly features of PassCamp.
#1 Complex Password Generator
The ability to generate unbreakable password strings is a key feature expected out of a password manager. PassCamp provides users with password suggestions that are a random combination of letters, numbers, and special characters.
Moreover, the users are given the option to select password strings that are between 5 and 100 characters in length.
Ideally, a password string length of 15 – 20 characters is recommended for safe use.
#2 Encrypted Password Storage
Suggesting strong passwords is one thing, but as the passwords are ultimately stored within the password manager itself, the storage mechanism also needs to be robust.
PassCamp stores all the user passwords by encrypting the plain password text using advanced encryption technologies such as AES-265 encryption.
#3 Secure Access to Master Account
Your password manager is ultimately another account with a username and password assigned to it. However, as all the other passwords are stored within this account, your master account must be highly secure and hack-proof.
To ensure this, PassCamp utilizes techniques such as zero-knowledge proof login and two-factor authentication (2FA), which makes sure that only the original owner gets access to the master account.
#4 Secure Password Sharing
Even though password sharing may sound absurd for personal accounts, it is common for accounts used for business purposes to be shared and used by different employees/teams within the same company.
PassCamp ensures secure password sharing by utilizing the RSA asymmetric encryption algorithm.
Using this mechanism, your passwords are encrypted with a public key and can only be decrypted using a private key.
The public key can only be visible to the password owner, whereas the private key is meant to be shared with the person that will access the password.
Moreover, all users must have a PassCamp account to access shared passwords.
#5 Assign Permissions to Users
If multiple people are accessing the password manager, it is logical to create a separate account.
PassCamp allows you to do this, and additionally, you can also assign specific account-related permissions to each user account.
This way, you can ensure that only assigned admin users can have full privileges, including the ability to add/remove users. Similarly, you can assign permissions allowing certain users to access the billing functionality, while other users can only access the shared passwords, etc.
#6 Detailed History Log
The “History Log” feature in PassCamp is extremely useful for businesses, especially if the passwords are shared with colleagues, teams, clients, etc. within the organization.
In case anyone with access to the password(s) decides to change it, then the history log feature allows the original owner to see the updated password along with details about who made the update and when it was done.
Moreover, the history log also provides the owner with details on each new share/edit that is done on the shared credentials. Not just the password owner, but the receiver(s) of the shared passwords can also view the history log of every item they have access to in PassCamp. Thus, the receiver and the password owner can always be assured that they are always in control and in the know of what’s happening with their sensitive data.
Is PassCamp All That Businesses Need to Secure Employees Digitally?
No single tool is perfect enough to protect your business digitally.
As cybercrimes are on a spike these days, businesses must start somewhere to ensure their security and integrity in the online space.
As passwords are the most simple and common methods used to secure accounts online and offline, using a password manager such as PassCamp can ensure better security of your employees, and ultimately your business, from cyber terrorists.
However, a combination of several techniques such as employee awareness, periodic evaluation, and a proper mitigation strategy is necessary to ensure long-term success.