Doing business today means having dozens of online accounts, which means you likely have dozens (or even hundreds) of passwords, if you count all the times you have changed them over the years.

Poor password management can cost your business time, money, and countless headaches. Every business should have a team password management system, like TeamPassword, that makes it easy to collaborate and share online accounts.

Here’s why:

Increase productivity. Your employees are more productive when they have access to the accounts they need. When employees have to ask each other the password for this service or that service, your company loses valuable productivity. Don’t let the people whose time and expertise you’re paying for waste it on password management. With TeamPassword, your employees will have passwords at their fingertips and won’t have to ask anybody.

Avoid duplicate accounts. TeamPassword lets your employees see which services your company has already signed up for, so that Jenna from HR doesn’t accidentally create a Hootsuite account when Joe from Marketing has already made one. Having multiple accounts for the same service can be a nightmare. It can be difficult to shut down the twin accounts, and you could even end up paying a duplicate subscription fee. Duplicate accounts lead to disorganization, confusion, and lost productivity.

Speed up onboarding. No one wants to spend their first day figuring out how to log onto the accounts they need to do their job. A good group password manager makes it easy to ramp up new employees. You just need to add the new employee to your TeamPassword account, and then grant them access to the appropriate groups.

A team password manager will let new employers see what accounts you already have. If they’re unfamiliar with a service that might help them do their job, they can quickly ask you about it and get rolling.

Ease the break up. When employees leave your company, a team password management app makes it simple to revoke access from the appropriate services. Of course, you’d like to assume that people have good intentions. But it’s just best practice to give access to your accounts on a need-to-know basis. It only takes one moment of vindictiveness for a spurned former employee with Twitter access to potentially tarnish your company’s reputation. You count on your business for your livelihood, but just as importantly, your employees count on your business for their livelihoods. Prevent the mistakes you can by having good systems in place.

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If you’re convinced, you should give TeamPassword a whirl.