So You Want to Sell Password Management Software: Now What?
If you’re an MSP or IT service provider looking to increase your bottom line (and who isn’t?), you’re likely considering a shift to authentication and password management. It’s a smart move.
With stricter technical compliance guidelines in nearly every industry and high-profile security breaches (for example, Target and TJX), businesses of all sizes are looking to update their outdated password and security protocols- and fast.
The global identity and access management market (i.e. security and authentication) is forecasted to be worth over $10 billion by 2018, and it’s a rare opportunity for IT professionals who are able to offer their clients with a real password and security solution.
While there’s definitely an excited buzz in the IT world about the potential profit this increased focus on security and password management will bring, there’s also many who aren’t sure on how to enter the market. Bad news for them, but good news for you. After all, I’m assuming you’re reading this post because you know that selling password management software is going to be key to differentiating yourself from other MSPs, making yourself invaluable to existing and new clients, and making some serious money. Which puts you five steps ahead of those other IT guys and gals.
One of my MSP clients told me recently:
“I have companies calling me about meeting compliance rules. I have clients asking me how to take their password security out of the dark ages. I know I can make money with password management software. So how do I do it?”
“You can make money with the right password management software,” I corrected them. Which brings us to the first, and most important, rule of selling security software:
Find the best password management software.
Your clients (and potential clients) are looking for a solution to their password/compliance/authentication problems. If you’ve gone with the wrong software choice, your clients will be disappointed with the results, and you’ll face an uphill battle of implementing new protocol and dealing with systems that just don’t make sense for you or your client. With the right password management software in your toolbox, however, you become the expert, an invaluable resource. You become the solution, and then you’re able to easily resell the software because they see how well it works for their needs.
What should you be looking for in PM software?
Multi-tenancy: With multi-tenancy, you can easily separate the password and security data for each client, and keep your own resources separate as well. This is absolutely necessary for an MSP or IT professional providing password or security services. Multi-tenancy is designed for MSPs rather than end-users, eliminating the need for multiple installs and making management much more, well...manageable.
Cloud installation: Installing in the cloud eliminates one of the biggest hurdles that IT professionals face when considering a move to password and security: managing internal servers. Moving to the cloud makes updates, feature changes, and add-ons a piece of cake, too.
A comprehensive solution: Many password management software options on the market today focus on only one aspect of the password problems business clients are facing: remote access, user passwords, etc. To hit a homerun with your clients, you need software that offers a total solution, with smart options for audit logs, multi-factor authentication, single sign-on, and more.
Vendor support: Maybe your client needs to get CJIS compliant, fast. Maybe you need to update the password protocol for an entire office with seriously outdated software. The point is, you’re going to need to customize your software to meet the compliance/security needs of your clients. So it’s important to go with a partner that will provide you with hands-on help and implementation support.