As an owner or high-level exec, I recommend you ask your IT company to send you all your administrative passwords to all your IT systems at least 2x a year. The larger your business, the more often you’ll want to ask because things probably change more often.
First off, you should always have all info to your critical systems. It’s just good business sense to always be prepared for the worst-case scenario. Even if you love your IT provider today & it’s been a 10-year relationship.
Second, it will show you how good your IT company is with their documentation process. If your IT company doesn’t enforce a great documentation system, what happens when the systems engineer that has been supporting your company for the past year unexpectedly quits or gets hospitalized? It should be a very quick and easy export process, yet I can’t tell you how many times it has taken days if not weeks for new clients we work with to get this information from their IT company & how frequently the passwords are wrong.
Third, if you ever decide that you’ve outgrown your IT company and need to make a switch, the first thing your new IT company will ask you for is your administrative passwords so they can change them to cut off access from the previous IT company. If you’ve never asked for your administrative passwords, this will be a big red flag to your IT provider- they’ll know something is probably wrong. That can put you in a risky situation, especially if they resist giving you the passwords. One of our clients was even held hostage over this because their previous IT company refused to give them their passwords until they paid some ridiculous bills. If you think the situation is preposterous & you would just sue the IT company, think about how long it takes to take & resolve legal action. You’re more likely to just pay. It’s far easier when you’ve already been regularly asking for this type of information so you avoid an awkward & risky conversation.
Not sure what to ask for? Download this template: https://spotmigration.com/resources/it-password-template/