{"id":59636,"date":"2022-10-24T09:42:51","date_gmt":"2022-10-24T01:42:51","guid":{"rendered":"https:\/\/version-2.com.sg\/?p=59636"},"modified":"2022-12-02T18:13:41","modified_gmt":"2022-12-02T10:13:41","slug":"why-you-need-single-sign-on-and-a-password-manager","status":"publish","type":"post","link":"https:\/\/version-2.com\/en\/2022\/10\/why-you-need-single-sign-on-and-a-password-manager\/","title":{"rendered":"Why You Need Single Sign-On and a Password Manager"},"content":{"rendered":"
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Passwords are the bane of user and admin existence.<\/p>

Keeping track of hundreds of passwords is tough, and employees inevitably forget them. When that happens, they\u2019re frustrated that they can\u2019t access the tools they need to do their job, and IT teams waste their precious time on lock-out tickets.<\/p>

To circumvent this aggravating process, many employees create simple passwords or reuse them, which threatens their employer\u2019s security and puts customer data at risk.<\/p>

Many IT teams try to mitigate these issues by implementing single sign-on (SSO<\/a>) or a password manager<\/a>. But using just one or the other can still put a burden on IT and leave the company vulnerable to breaches. <\/p>

What organizations really need is a unified approach to access that will enforce password health while allowing IT to control all target systems and support multiple authentication types. But is that even possible?<\/p>

Below we\u2019ll review why unmanaged passwords are so risky, describe the pitfalls of standalone SSO, and explain what a new world could look like when SSO and a password manager are implemented together.<\/p>

The Dangers of Unmanaged Passwords<\/h2>

Unmanaged passwords are often a key component of cyberattacks, which are only getting more prevalent as employees have to remember more and more passwords to complete their day-to-day work. For example, Verizon\u2019s 2022 Data Breach Investigations Report<\/a> found that stolen login credentials were associated with half of all data breaches \u2014 a 30% increase from 2017.<\/p>

And data breaches aren\u2019t cheap. In 2022, the average cost of a data breach in the US was $9.44M<\/a>, up from $9.05M last year. Plus, they tarnish a brand\u2019s reputation, leading to further revenue losses.<\/p>

But password management<\/a> is expensive even without a breach. The average password reset can cost<\/a> companies $70. When extrapolated to an entire organization, that adds up quickly.<\/p>

While IT can send regular reminders to update passwords and educate employees on what makes a strong password, that\u2019s not enough to mitigate risks. And those practices don\u2019t reduce strain on IT either.<\/p>

A password manager can reduce the chances of a breach and decrease pressure on IT by:<\/p>