When you are selecting the password management system you are going to purchase for your company, there are a lot of factors to look at. Most companies offer products that are similar, so choosing the best enterprise password manager really comes down to which features you find most important.

There are 7 features that every good password management company should offer as part of their packages. While all may not be included in a basic package, they should be available as part of an upgraded package or a la carte add on. Compromising on any of these features will make the product not as efficient as it should be.

1. Useability.  

This one should go without saying. A good password management system should be very user friendly. Most employees who are using the software are not familiar with all aspects of IT, so being able to navigate through the process of setting things up should be fairly easy to understand.

Even with the best instructions, if the application is hard to use, it is likely that the company will look at another product.

2. Easy Onboarding and Offboarding

Employees come and go often, especially in large companies, seasonal companies, or companies that operate on a 24/7 basis like in healthcare. With the constant change in employees, adding and deleting accounts are going to need to happen often.

For this reason, it should be an easy process to onboard a new employee or offboard a former employee. Additionally, removing a terminated employee should be an immediate shutdown of all accounts. Especially in situations where the termination was unfavorable for the employee, you don’t want them to have continued access to the system after they’re gone. 

3. Administrative Controls and Monitoring

The company should be able to have administrative control over what is being done and have access to change those controls at any time. You should be able to see your employees use of the program at any time.

A helpful feature is a dashboard that lays out all of the reports and options you have for monitoring the way the system is working for your company.

4. Password Sharing

While you should never share your personal password, there will be times you have to share a password among team members. Things like protected meetings and spreadsheets may need to be shared with only certain members of your team.

A good password management company can provide strong password sharing networks and strategies so that only the necessary people can access that information.

5. Security

The whole purpose of using a password management system is about security, so you want to be sure that your actions are secure while using the system. These security features should include things like encryption to ensure that even if your information is hacked while in transit, your data is not able to be interpreted without being able to unscramble it. 

6. Password Generation

The password management system should provide quality password generation to keep you safe. Additionally, it should notify you when it is time to change your password and ensure that your new password is of equal strength. Quality passwords are the number one way to stay safe online.

7. Productivity-Boosting Features

Password management systems should offer productivity-boosting features that make your workday easier and more productive. The Single Sign On feature keeps you logged into the accounts that usually time out after so long, requiring you to stop what you are doing to sign back in. Staying signed in keeps your productivity flowing and eliminates the distraction and disruption of having to log back in and start over.

Additionally, autofill forms make it easy to fill out information that is often required across many platforms. Being able to autofill things like your name, phone number, email and the company’s address can save so much time.

Finally, features like a digital wallet help to pay bills and order supplies without having to dig out a credit card or bank account information for every transaction. This is especially convenient for a business office or purchasing department, who use these tools continuously throughout their workday.

The purpose of a password management system is not just to keep your passwords protected online, but to help keep your business safe and moving forward. They give you the tools to make your workday operate smoothly by automating the things that not only take up time, but they are most likely to cause a security breach.

No company has the time or the money to deal with a costly security breach. By taking the time and measurements to ensure you have the proper protection, it should be something that you don’t need to spend time worrying about. 

Finding the right password management company is about more than just security for your business, it’s about peace of mind.