Forgotten Passwords Might be Costing Your Business £1.4m

Forgetting Passwords

Good password policy is that you change it regularly (many suggest every 90 days). But with all those changes it can often be forgotten – “did I use the dog’s name, or my favourite football team?”

Fortunately if you forget your password you can phone up the IT helpdesk and they can reset it for you – as long as of course you can prove who you are – and it probably only cost you 10 or 15 minutes of wasted time.

Yet if you multiply that lost time of yours, as well as the IT Helpdesk time, by the number of people in your organisation that forget their password, then it can soon get expensive.

The Cost

Our rough calculations estimate that it could cost a large organisation with 70,000 employees (for example a large bank) up to £1.4m per year. Now these aren’t exact numbers, because this is exactly the kind of hidden cost that companies don’t even realise they are losing.

A Solution

At iDENprotect we advocate Next Generation Client Identity management. Behind the scenes complex mathematics is used to generate a private key within the secure hardware of the device to provide an immutable credential. While for the user it feels almost effortless as no passwords are used – they log in using fingerprint, facial recognition, voice recognition etc.

However, we also understand that many organisations will have policies that require them to continue to use passwords. That is why we offer a password reset function that allows a user to reset their active directory password without needing to contact their IT helpdesk or go into the office.

Using the iDENprotect mobile client, enrolled with their enterprise’s iDENprotect server, the user selects to change their password, authenticates to their phone with their fingerprint and can then specify a new password. The iDENprotect mobile client uses enterprise-level hardware-backed encryption and signing to ensure the secure and assured communication to the iDENprotect server.

So the next time you forget your password, consider how you could save your business up to £1.4m per year and get in touch with us.

Posted in:

Tags: , , ,