One of our biggest challenges with client password management was employees storing passwords using their preferred password management method or platform rather than a company-wide approved solution. When passwords are stored in individual silos and an employee leaves, there are multiple challenges around getting those passwords from them – how to get them at all if they are fired or disgruntled? Do we have them all? How do we transfer them to someone else securely and accurately?
In addition, when passwords needed to be shared by multiple people, those passwords were stored in an Excel document on the server or written down and stored as hard copies – which, of course, was not compliant with our security protocols.