Dealing with a Cyberattack? Access Expert Help Here >

October 13, 2022

Compare the Cost of a Cyberattack with the Cost of a Password Manager

The average annual cost of a cyber attack for a small business owner according to Hiscox Cyber Readiness Report is $25,000. The average annual cost of a business password manager for each employee is less than $200. You can’t put a price on the peace of mind that comes with proactively securing your entire organization, so let’s talk about passwords and password managers for small and midsize businesses.

Safeguard the keys to your digital data

Cybersecurity best practice is to use a unique password for each site or application. If your one password is stolen during a breach and published for sale, imagine how quickly a bad actor can gain access to your accounts and private information. Reduce your cybersecurity risk by educating your employees on protecting your organization’s critical digital data:

  • It’s risky behavior to share passwords or post credentials on a device that can easily be seen by co-workers.
  • It’s not wise to use passwords that contain personal information like a birth date, address, social security, or phone number.
  • Bad actors can easily guess credentials like your name, “password,” “qwerty,” or “12345678.”

The average individual has over a hundred passwords for accessing their data and tools. In addition to storing passwords, a password manager helps users ensure their passwords are strong and even identifies weak or reused passwords.

Some people are skeptical of using a password manager, but they are the safest way to secure sensitive business data. According to the 10th edition of the Verizon Data Breach Investigations Report, 81 percent of hacking-related breaches leveraged stolen or weak passwords.

A business password manager secures your entire organization

A business password manager is software that makes it easy for employees to securely store and access passwords when needed to log into applications and business tools. These systems run in the background and are critical to avoiding data breaches and ensuring your business is protected against cybersecurity threats.

Business password managers increase company data security and also increase employee productivity. The World Economic Forum reported in Passwordless Authentication The Next Breakthrough in Secure Digital Transformation that over the course of a year, employees spend over 11 hours entering or resetting forgotten passwords.

SMBs need password manager +

Small and midsize businesses often face the most difficult challenges due to a shortage of professional staff and financial resources. Many small businesses are not using comprehensive security software due to prioritization, cost, internal knowledge, specific expertise, or lack of dedicated security staff. Instead, they may try to build a security stack with individual products that are expensive and complicated for their teams to manage. Ultimately, many businesses by default make the decision to operate with less protection, putting themselves and the customers they serve at risk.

AaDya designed Judy to solve the cybersecurity challenges faced by small and midsize businesses. Judy provides 24/7 protection for SMBs that lack the time, expertise, and capital to successfully implement cybersecurity solutions.

Built to provide a solid cybersecurity foundation for even the smallest businesses, Judy Essential includes a business password manager plus core security features to safeguard your organization’s business applications and users’ devices. Judy will save you money, and scale with you as you grow.

Judy Essential is all-in-one cybersecurity software-as-a-service that’s easy for everyone in your organization to install and use, and provides threat protection from the inside out. Judy Essential includes these key cybersecurity protection features:

  • DNS filtering: protects users from accessing malicious and suspicious links and websites, including phishing, malware and botnets.
  • Secure Authentication: ensures authorized access to Judy’s dashboard and password manager. Judy’s passwordless authentication improves security with biometric or PIN authentication via mobile device so users no longer need to remember passwords.
  • Password Manager: securely stores and encrypts users’ passwords in a private vault for easy access when logging into business applications. Includes password auditing to evaluate password strength so users can proactively improve their security.
  • Endpoint Detection & Response (EDR): continually monitors users’ devices to detect and respond to cyber threats like ransomware and malware.

Judy Essential is available for as little as $14 per user per month. Learn more about how you can get cybersecurity protection and peace of mind at a price your business can afford. Sign up for a demo today!