"Businesses Want Technologies That Allow for Passwordless Workflows"

The results of Bitwarden's 2023 Password Decisions Survey, which polled 800 IT decision-makers from various industries, show that passwordless technology is here to stay, with businesses expressing enthusiasm about its perceived security benefits and improved user experience. According to the survey, about half of those surveyed use or plan to use passwordless technology. Of the respondents, 66 percent have 1-2 user groups or multiple teams using passwordless technology, while 13 percent have deployed it across their entire organization. Businesses are facing many post-pandemic security challenges, including increased employee turnover, a hybrid workforce that relies on multiple devices in multiple locations, and a seemingly endless threat from cybercriminals. Given these challenges, 79 percent of IT decision-makers prefer that employees use the same enterprise-wide password manager. Security is cited as the most important feature of a good password manager by 60 percent, followed by Two-Factor Authentication (2FA) integration (56 percent), and ease-of-use (40 percent). If their company offered it, 71 percent of employees would use a password manager with a complementary family account to give their family added security at home. Sixty percent of respondents say their company has been the victim of a cyberattack, up from 54 percent last year. As a result, 80 percent of organizations now have a ransomware mitigation strategy in place, up from 75 percent last year. Cyber insurance is also becoming more common, with 75 percent of organizations having it. Of those who do, 65 percent must demonstrate that they provide employee cyber awareness training. When asked why their organization has not made the switch to passwordless technology, 39 percent say end users are hesitant, and 49 percent say the applications they are using are not designed to be passwordless. This article continues to discuss key findings from Bitwarden's 2023 Password Decisions Survey. 

Help Net Security reports "Businesses Want Technologies That Allow for Passwordless Workflows"