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Passportal Insights

3 Tips for Using Branded Password Management as a Service

By Passportal Blogger

Many managed services providers (MSPs) often need to manage hundreds, if not thousands, of passwords. Their technicians require reliable access to these in order to gain entry to customer networks and provide support. Some MSPs may use a password manager to maximize security and minimize the complexity of managing so many unique passwords.

While these tools certainly make your life easier as an MSP, they can’t necessarily educate your customers and their end users about the importance of password security. But what if you could easily extend this service to your customers? With an option that offers branded password management as a service, your MSP can do just that. 

What are branded password management solutions?

Password managers are a type of software application that can run on a computer, mobile device, or in the cloud. They are designed to automatically generate complex and unique passwords, deliver secure storage, and facilitate easy and quick retrieval. Cloud-based systems are becoming increasingly popular, allowing you to safely store log-in credentials offsite on external servers. 

Password managers utilize enterprise-grade encryption, multi-layer authentication, and role-based permissions. These layers of security help ensure only those with the appropriate permissions will be able to access credentials, and help prevent cyberattacks by making it difficult for even the most talented cybercriminal to steal your information.

A branded password management service solution also allows you to custom brand and resell these services to your customers. If you choose a software as a service (SaaS) password manager, you can apply your logo and other company branding so your customers keep you in mind while they are using the solution. 

Branded password management as a service lets MSPs automatically store, access, and share approved credentials in a comanaged IT environment. By doing so, their customers’ end users can centralize their corporate and personal passwords, maximize productivity with one-click logins, and more. 

The top benefits of using branded password management 

There are plenty of advantages for MSPs to use a branded password management as a service solution. Here are three benefits your MSP might gain from adopting one:

1. Extend time savings and threat protection to your customers

When you offer a SaaS password manager to your customers, you can arm end users with the same enterprise-grade encryption and credential handling you use to protect your own company. By providing customers with cost-effective access to a multitenant solution, you save customers’ time and keep them excited about your services. As such, a SaaS solution provides added value, which could increase product uptake and provide an incremental service revenue opportunity for your MSP.

2. Differentiate your business

Another great benefit of using a branded password management as a service solution is it gives your MSP the opportunity to differentiate itself from competitors. You can use your SaaS solution to extend your services product menu and deliver an added value proposition your competitors may not be offering. You can also custom brand it to help ensure your company is in the forefront as your customers reap the benefits. This offers a great way to reinforce the value you bring to your clients every time they use the service.

To help make the most of your password management as a service offering, we recommend liaising with your marketing team to help ensure potential customers are made aware of it. For example, you should feature the option prominently on your website. Even if your customers don’t end up utilizing these services, simply knowing your MSP offers something your competitors don’t may help your company stand out to end users.

3. Improving security and customer satisfaction

Unfortunately, due to the nature of the managed services business, many MSPs are blamed for security breaches that may not be their fault. Even the most effective security measures provided by an MSP are rendered obsolete if end users employ weak passwords or reuse the same ones for multiple accounts. 

These poor security measures make customers vulnerable to cyberattacks, which they may incorrectly blame on their MSP. A SaaS password manager can help prevent this from happening by improving overall client security and fostering a culture of dependability with your customers’ companies. To maximize this security benefit, encourage customers to educate their end users on how to use the SaaS solution, and make certain they are aware of the full range of features available. 

Finding the right branded password management tool

Branded password management tools help you keep your business at the forefront of your clients’ minds, deliver added value, differentiate you from competitors, and boost security. But when you choose your SaaS password manager, it’s important to pick a solution that you would (or do!) use yourself. 

For a multitenant solution that can help you take full advantage of the benefits listed in this guide, we recommend N-able Passportal Site. Passportal Site functions as an add-on for N-able Passportal, meaning you can continue using the password management tool you know and love—and simply extend its benefits to your customers.

Passportal Site allows customers to easily and safely share passwords in a comanaged IT environment, providing an incremental service revenue opportunity for you. This tool lets you add your brand and create a custom service URL so customers keep your business in mind. It delivers military-grade encryption, lets customers enjoy the ease of one-click website login, and automatically generates passwords. To see this in action, request a demo of Passportal today. 

 

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