The easiest, cheapest, and most effective way to avoid a serious cybersecurity breach is by ensuring your company has a secure password manager.
Every minute, businesses worldwide lose an estimated $2.9 million to cybercrime. And poor password management is by far the biggest cause of company data breaches.
You could spend a ton of money on cybersecurity — encrypting sensitive data and putting up firewalls — but without strong passwords, no other security measures will work.
Short on time? Here are our top 5 business password managers:
An enterprise password manager ensures that everyone in your workplace keeps their accounts totally secure.
- Provide strong, unique passwords for all employee accounts.
- Keep login details locked up in encrypted storage.
- Remove the hassle of resetting forgotten passwords.
- Save time by auto-filling forms.
Most password managers are so easy to use that your team will quickly adapt to this new high-security approach. They’ll require very little training, and overall you’ll save you a lot of time in the long run.
We’ve tested every password manager for enterprise to ensure each one can protect your company’s most sensitive data.
Each of these best enterprise password managers offers a secure, user-friendly, and good value solution to your company’s cybersecurity needs.
How We Rate the Best Enterprise Password Managers for 2020
Here’s what we consider when deciding which password managers deserve a place in our top 5:
- Security. We guarantee that each enterprise password manager comes with high-grade encryption to protect your company’s passwords from every possible security threat and hacking attempt.
- Features. We find the best password managers for enterprise that offer excellent additional features, such as storage for sensitive documentation or group password sharing.
- Support. We only include enterprise password managers that provide a team of experts to help you when you need it. If something goes wrong with your password manager, you need technical support — fast. For every minute without access to your accounts, your business is losing money.
- Price. We only recommend password managers for enterprise that all represent excellent value for the money. You can’t put a price on protecting your company’s private data — but you can get a good deal.
1. Dashlane Business — Overall Best Password Manager for Enterprise
Dashlane is one of the most feature-rich and easy-to-use password managers available. That’s why we’ve listed it as both our best business password manager for 2020.
An impressive feature of Dashlane Business is its Smart Spaces feature. Users have 2 spaces in which to store their private data:
- Business Space
- Personal Space
Administrators can keep track of how users manage the passwords in their Business Space without viewing a user’s Personal Space.
Another great Dashlane Business feature is Group Sharing. If employees need to share login credentials or accounts, Group Sharing makes it easy to create and manage permissions. This also means you can revoke access to sensitive areas when someone leaves your team.
Group Sharing also helps you keep sensitive data secure. Transmitting passwords via email or SMS is a very bad idea, as they’ll be stored in plain text format. This means that if someone loses a company device, it’ll be easy for passwords to fall into the wrong hands.
Dashlane is one of the most easy-to-use password managers on the entire market. It makes logging into accounts easy for staff — saving time and improving team productivity.
What We Like:
- Excellent admin controls that allow administrators to monitor staff practices without intruding on their privacy.
- Group Sharing features, enabling staff to securely share passwords and login details.
- Simple and intuitive user-interface.
What We Don’t Like:
- Companies with under 50 users can’t access Dashlane’s top-tier support.
Dashlane Business allows your employees to effectively collaborate and securely share data. Administrators can use the powerful Admin Console to supervise employees’ password habits — without intruding upon anyone’s privacy. Dashlane is a fantastic all-round choice which will save everyone in your team time and effort.
2. RoboForm for Business — Best for Centralized Management
RoboForm was one of the earliest commercial password managers on the market, and it has always maintained a great reputation for security. RoboForm for Business offers enterprise customers everything available to RoboForm Premium customers — and more.
RoboForm for Business has a smart system to help you control your company’s security policies enabling you to do things such as:
- Forcing extra verification checks for users wishing to access to highly sensitive areas.
- Stopping certain users from changing their Master Password.
- Requiring users with top security privileges to regularly change their passwords.
RoboForm works by dividing users into 4 categories:
- Company Admin
- Group Manager
- Regular User
- Limited User
Company Admins can create new employee accounts, perform audits to check the strength of users’ passwords, and set security policies for everyone within the company. Group Managers can set security policies for all Regular and Limited Users within their group.
This level of control is perfect for companies with several different departments. It allows high-level Company Admin staff to delegate some control to Group Managers, while maintaining tight security over the most critical areas of your business.
What We Like:
- Powerful centralized controls that let administrators delegate security management.
- Easily limit access to sensitive data for contractors or temporary employees.
- Easy staff onboarding and deployment processes.
What We Don’t Like:
- Company Admin interface is complex and could be confusing for the average user.
- Limited hours of support.
RoboForm for Business provides powerful centralized administration tools that give you true control over security policy across your company. It’s perfect for large organizations or those with several departments, but it’s still decent for smaller businesses, too.
3. LastPass for Business — Best for Small-Business Users
LastPass is one of the most user-friendly password managers on the market. It has a well-designed interface, autofill capabilities, and great tech support.
There are 4 LastPass for Business plans:
- Teams. A simple set-up with strong security and basic group sharing features.
- Enterprise. Centralized administration and integration into single sign-on (SSO) apps.
- MFA. Secure multi-factor authentication and biometric login options.
- Identity. The ultimate in secure login features with centralized administration.
This level of customization means you’ll only pay for what you need.
Companies with 50 or fewer employees should consider LastPass Teams. LastPass Teams offers a great set of features at a great price, including:
- Secure password sharing.
- An individual password vault for each user.
- Storage space for digital records such as employee IDs.
- Simple user-management options to add and remove users.
If your requirements are more complex, consider either LastPass Enterprise or Identity, both of which offer a greater level of customization and security.
What We Like:
- You can tailor your LastPass package to suit your business needs.
- Easy-to-use interface with lots of great features including secure password sharing.
- Highly secure password and digital records storage.
What We Don’t Like:
- LastPass Teams and MFA plans don’t include access to LastPass’s most secure multi-factor authentication login methods — this level of security is important if you handle personal data or other sensitive information.
- Setting up LastPass isn’t as user friendly as some competitors like Dashlane.
LastPass for Business lets smaller companies only pay for the features they need. Even the best-value LastPass packages include some great sharing and auto-filling tools — all backed up by LastPass’s powerful encryption technology.
4. Keeper Enterprise — Best for Large Companies
Keeper Enterprise comes with many great features, including:
- Security Audit. Assesses the strength of your staff’s passwords, and alerts you to security vulnerabilities.
- Team Management. Allows administrators to manage security policy — for example, set rules such as how strong passwords should be and how often staff must change their passwords.
- Email Auto-Provisioning. Lets you register your company domain name with Keeper. This means you can quickly bring anyone with a company email address onboard with a Keeper account.
These are just some of the basic features of Keeper Enterprise. It provides an excellent level of security, and it allows you to manage your employees’ passwords with ease.
If you’ve got the budget for it, and you have a large team to manage, you can purchase extra features for Keeper Enterprise to create a complete cybersecurity package, including:
- Dedicated Onboarding and Training. One-to-one guidance from Keeper’s staff, plus training on how to get the most from new features.
- BreachWatch. There are billions of stolen usernames and passwords on the dark web. Keeper can alert you if any belong to your team.
- KeeperChat. Discussing confidential company information via email can be highly risky. KeeperChat protects your team’s messages and media with end-to-end encryption. You can also set sensitive messages to “self-destruct” after a certain period of time.
With access to all these extra features, Keeper Enterprise can meet the needs of even the biggest businesses.
What We Like:
- Secure and easy-to-use.
- Quick and easy staff on-boarding process.
- A fantastic range of extra features including dark web monitoring and secure messaging.
What We Don’t Like:
- Obtaining the full package of extra features could get expensive.
- No live chat support.
Keeper Enterprise is a great option for large companies. Its basic features provide everything you need to help your staff keep their passwords strong and safe. Keeper also offers powerful optional extras such as easy onboarding, dark web monitoring, and secure messaging.
5. CyberArk Enterprise Password Vault — Best for High-Security Industries
CyberArk Enterprise Password Vault is a password manager for cybersecurity experts. While all the password managers on our list will keep your company’s passwords safe, CyberArk takes password management to a new level of customization and control.
CyberArk’s security model focuses on protecting privileged accounts — the sorts of accounts required by senior IT administrators.
Privileged accounts have access to the most sensitive areas of a network. If an intruder gains control of a privileged account, they can do a huge amount of damage — stealing data and weakening security. With cybercrime costing the global economy over $1.5 trillion per year, you need to take every precaution to secure your privileged accounts.
CyberArk ensures privileged accounts are as secure as possible.
CyberArk’s security solutions include:
- Automated rotation of account credentials. To keep a privileged account secure, you must regularly change its login credentials. Automating this process increases security by reducing the risk of human error.
- User session surveillance. Security teams can directly supervise user account sessions in real-time. This allows them to look out for suspicious behavior indicating that an intruder is using the account.
- Privileged account monitoring. CyberArk’s security engine closely observes changes to privileged accounts. It uses a system of statistical algorithms to detect any unusual activity.
CyberArk offers high-security cloud storage, and it also allows you to store login credentials locally, rather than in the cloud. This is optional — but if you have access to some seriously secure servers, local storage gives you ultimate control over your company’s data.
Using CyberArk requires considerable technical skills, however. Its primary goal is protecting your company’s data with maximum security rather than making it easier for your staff to log into their online accounts. But if your passwords guard the most sensitive information, security needs to come before convenience.
What We Like:
- Advanced security for privileged accounts.
- Versatile and customizable — you can apply the strongest level of security necessary for your company.
- Allows local storage of login credentials for those with access to highly secure hardware.
What We Don’t Like:
- Not suitable unless you have access to IT staff with cybersecurity expertise.
- Unlike the other password managers on our list, CyberArk is unlikely to save your staff time and effort.
CyberArk offers businesses an extremely high level of security over their login credentials and accounts. If your company’s passwords guard highly sensitive information, CyberArk is the best option — if you have the knowledge to use it properly.
Why You Need a Password Manager for Enterprise in 2020
Every day, cybercriminals are inventing new and innovative ways to steal your company’s data. But the most common way is by simply logging onto a staff member’s account — and leaving your system unsecured makes that really easy.
Weak passwords and other poor cybersecurity habits can lead to devastating security vulnerabilities. But beyond generating hyper-secure passwords, a business’s password manager will help you eliminate the following bad security habits from your company:
- Sending confidential information over email.
- Storing sensitive data on unencrypted hard drives.
- Sharing important files via unsecure cloud storage.
Password managers don’t only improve your business’s security. They can automate tedious processes like changing or resetting passwords and trying to remember a large number of login details, giving your staff more time to do their jobs. Password managers also provide a centralized management console, giving your IT admin or management team key controls over company security.
For an excellent all-round business password manager, we recommend Dashlane Business. Dashlane provides the best easy-to-use password management, for business admins and individual users, with some excellent features for sharing and collaboration — all backed up by high-grade encryption.
If your needs are more complex, consider RoboForm for Business. RoboForm’s permissions management and administration consoles let you effectively manage security across your entire business, with great customization options to suit every business requirement.