Have you ever had a client say, “let me just pull up the spreadsheet with all the passwords”? Whether you have or not, no MSP should be letting that happen. Client password management should be right up there on your priority list.
Cybercriminals are on the prowl now more than ever. The FBI reported that there has been a 400% increase in cyberattack complaints since the beginning of the pandemic. And to make matters worse, cyberattacks are inflicting heavy losses on businesses. The average total cost of a data breach is pegged at $3.86 million. MSPs simply can’t afford to take client password management lightly anymore.
You need to actively discourage clients from using emails, spreadsheets or even post-it notes to store or share passwords. All it takes is one compromised Microsoft 365 or G Suite account for an attacker to bring a client’s business to a standstill. Not only is storing passwords in emails or spreadsheets unsafe, it becomes difficult to locate them when needed. Imagine having to go through an entire email chain just to look for a password.
What’s the alternative?
People use spreadsheets or emails to store and share passwords because of immediacy. That’s why the alternative you implement must not only be easy-to-use but far more secure and should come with bells and whistles that you can leverage. That’s precisely what MyGlue does.
MyGlue is a client-facing platform that offers an easy-to-use, secure hub for your clients to store and manage passwords and other confidential information. It comes with a Chrome Extension that allows clients to quickly and securely access the passwords within the browser. No more switching tabs or copy-pasting the credentials from somewhere else. Logins will be far less stressful.
Because all the passwords are stored in a SOC 2 (Type II) compliant central hub, no one has to remember them every time. It comes with a strong password generator (32-character), meaning you can prevent clients from repeating passwords or using weaker ones. Furthermore, it allows users to copy passwords to the clipboard without revealing them.
Now, what if the client doesn’t want everyone in the organization to have access to all the passwords? With MyGlue, you and your clients can monitor and regulate all the passwords that each employee has access to. In case an employee resigns, changing the passwords they had access to is as simple as looking it up in MyGlue and making the change.
Talking about password resets, with MyGlue’s collaborative approach, you can significantly reduce the time spent on client password management. Focus your efforts on becoming a trusted advisor and growing your business while making clients more self-reliant. On top of all that, MyGlue comes with top-notch security features such as MFA, OTP generator, host-proof hosting, user permissions and audit logs.
Our Global MSP Benchmark Survey Report for 2020 revealed that a sizeable portion of MSPs think their clients are still using inappropriate means to store passwords. But on the flip side, the adoption rate of tools such as MyGlue has also increased over the past couple of years.
If you wish to gain an edge over your competitors, now is the time to step up your security offerings and establish yourself as a trusted advisor. And MyGlue will help you get there.
Want to know more about MyGlue? Schedule a demo now.