In any business, time is money. But what if we told you that a seemingly minor inconvenience—inefficient login workflows—is actually a hidden drain on your resources? Problems like mistyped credentials, forgotten passwords, and lack of communication on password changes may appear small, but their cumulative effect on productivity can be staggering. Let’s delve into the real costs involved, both in hard and soft savings.

The Calculations: Wasted Time and Resources

Mistyped Credentials

• Assumptions:
  • Average time to retype credentials: 30 seconds
  • Average number of employees: 1,000
  • Frequency: Twice a week
• Calculation:
  • 30 seconds/attempt x 2 attempts/week = 60 seconds/week
  • 60 seconds/week x 1,000 employees = 60,000 seconds/week
  • 60,000 seconds/week = 16.67 hours/week

Forgotten Passwords

• Assumptions:
  • Average time for password reset process: 5 minutes
  • Average number of employees: 1,000
  • Frequency: Once a month
• Calculation:
  • 5 minutes/reset x 1 reset/month = 5 minutes/month
  • 5 minutes/month x 1,000 employees = 5,000 minutes/month
  • 5,000 minutes/month = 83.33 hours/month

This will be particularly prevalent when employees share PCs and don’t always remember or know that the password changed.

Lack of Password Change Notification

• Assumptions:
  • Average time lost due to not being informed: 10 minutes
  • Average number of employees: 1,000
  • Frequency: Twice a year
• Calculation:
  • 10 minutes/instance x 2 instances/year = 20 minutes/year
  • 20 minutes/year x 1,000 employees = 20,000 minutes/year
  • 20,000 minutes/year = 333.33 hours/year

Cumulative Time Wasted

• Calculation:
  • 16.67 hours/week (Mistyped Credentials) x 52 weeks/year = 866.94 hours/year
  • 83.33 hours/month (Forgotten Passwords) x 12 months/year = 999.96 hours/year
  • 333.33 hours/year (Lack of Password Change Notification)
  • Total = 866.94 + 999.96 + 333.33 = 2,200.23 hours/year

Cumulative Cost to Company

• Assumptions:
  • Average wage per employee: $25/hour
• Calculation:
  • 2,200.23 hours/year x $25/hour = $55,005.75/year

Soft Savings

In addition to the direct financial impact, inefficient login processes can result in:

• Decreased Employee Morale: Repeated login failures can be frustrating, affecting mental well-being.
• Reduced Focus and Productivity: Attention is diverted from core tasks.
• Heightened Security Risks: Inefficient systems may encourage risky behavior like writing down passwords.

Case Study: XYZ Corp.

XYZ Corp., a mid-sized tech company, conducted an internal audit and discovered that they were losing approximately $50,000 annually due to inefficient login workflows. After switching to an enterprise password manager and proximity authentication solution, they saw a 50% reduction in time wasted on login-related activities within a quarter, equating to annual savings of $25,000.

Conclusion

The numbers don’t lie. What may appear to be minor inconveniences can add up to substantial losses for a company. By investing in efficient login systems, not only will you save time and money, but you’ll also boost employee satisfaction and security. With potential annual savings of more than $50,000 for even a mid-sized company, can you really afford not to make the change?