How Much Do Password Resets Cost Your Company?

We live in an ever-changing world where users are forced to remember passwords, usernames, and other login information – and keep it all safe. In a world where we’ve exchanged pen and paper for computers and smartphones, keeping up with all this data can be nearly impossible, and even more important to protect your identity.

When it’s your business, the issue of password upkeep becomes even more complex because it raises issues beyond personal, including corporate assets as well.

What’s worse, have you ever considered how often your employees and staff misuse, lose, or forgot crucial data? When it’s your business, the issue of password upkeep becomes even more complex because it raises issues of the employer/employee relationship, as well.

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How Much Are Password Resets Affecting Your Company Financially?

Unfortunately, password resets, or the process it takes for someone to get a new password or login credentials, aren’t just inconvenient; they’re also costly. As you dive into the financial aspect of constant password resets, you must wonder how this is affecting your profit and losses. You might be shocked to find out that 30 to 50 percent of all calls to the help desk are for this very reason. Not only is that tying up lines, but it’s expensive.

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When you ask yourself how much time is wasted, you must factor in the cost per reset. On average, a password reset runs about $70. Now, imagine that cost per day. That’s shocking enough, but that’s only the beginning. What you might not realize is the downtime it takes to have the reset completed also costs money. If your employees can’t sign into their accounts, the money lost waiting on IT is added to the top of the price to reset. What started as a simple reset has now turned into a financial loss.

How Enterprise Password Management Software Can Help

However, there are options available to save your business both time and money. By using an enterprise password management software system, gaining control of password management becomes much simpler. Using the right software will provide you with a secure connection from an active directory without worrying about the waste of money and downtime for your business.

RELATED ARTICLE: Shortcomings of Popular Password Managers

IDSync will enable you to manage users from one location. In turn, this cuts down on IT costs for frequent password resets.

Contact IDSync Today

Are you ready to make the changes needed to save time and money on costly password resets? If so, we can help. Our knowledgeable staff can get you started on a secure pathway to knowing that valuable data is safe and in good hands. To find out more information about password resets, fill out our online form for a quick response.