In a world of growing cyber threats, you can’t do the bare minimum to protect your online accounts. It doesn’t matter if you have a large business or are just starting. A minor vulnerability can compromise your entire organization.
Of all the cybersecurity applications, two-factor authentication is one of the best. Unfortunately, only 11% of enterprises have adopted it as a security standard.
Are you unsure if multi-factor authentication (MFA) is right for your business? Check out the benefits of MFA below to better understand why it pays to improve your IT security with two-factor authentication (2FA).
- Reduce the Risk of Compromised Passwords
Password security has come a long way over the years. In the past, it wasn’t uncommon for people to use easy-to-guess passwords on their accounts. They did this because it was hard to remember complex passwords — and even harder when you have several accounts to remember.
We’ve come a long way with password managers today. People can store dozens of passwords and don’t need to worry about remembering them.
But that doesn’t mean your business accounts are safe. There are still countless ways to steal passwords outside of guessing them. If that happens, your company accounts are still at risk.
Two-factor authentication protects you when this happens. Even if a hacker has an employee’s password, they won’t be able to access any accounts without access to the two-factor authentication device.
- Easy to Scale
Not every IT solution is easy to scale. It requires you to keep putting in work to scale up and maintain what you have. Luckily, two-factor authentication isn’t one of those things.
It’s easy to scale 2FA for any business. On top of that, depending on what type of security system you have set up, it can make things easier for your IT team.
That’s because you can control much of your operation with the rest of your security setup. This makes 2FA systems easier to maintain without adding much more complexity to your system.
- Use Single Sign-On (SSO)
Two-factor authentication makes life easier for more people than your IT team. It also helps your employees by simplifying the login process.
SSO is a way for employees to log onto accounts without a password. Yes, you have password managers available to make things easier. But those don’t work well for accounts not based on the web.
This is where SSO helps. These credentials replace passwords and remove the need to enter them for any account. Everything is tied to one sign-on, so it simplifies logging into accounts for your users.
This removes the risk of password loss and forgetting passwords. Removing the need to use a password also speeds up the login process.
Check out the cyber security services found here if you want help setting this system up.
- Meet Regulatory Compliance
You have IT obligations in some industries. This may not be the case in regular businesses where you don’t have as much sensitive data. But when dealing with things like financial data and healthcare information, you have more obligations to meet.
One of those requirements is securing data behind an authentication system. Unfortunately, a simple password system won’t be enough to meet those requirements in most situations.
Two-factor authentication takes you across the finish line. These systems will make your sensitive data more secure and ensure you don’t face any problems because of regulations. If a government official audits your system, you don’t need to worry about getting in trouble with the government.
- Safeguard Mobile Users
You have an additional level of risk when employees work remotely. Although many will work from home, some will be in coffee shops and other places when working. Those are internet connections that you can’t secure yourself.
That’s why it’s even more essential to safeguard your accounts. Remote users are an additional security risk and present more danger than people working from the office.
Since two-factor authentication adds another layer of security, you have that protection. Someone watching what an employee does won’t have access to secondary codes with 2FA. That means you can rest assured when you have employees on the road.
- Increase Customer Trust
Trust is hard to come by in today’s world. Consumers have heard a lot about business hackers over the past decade. Given how much information they hand over to companies, it’s no surprise that people are skeptical.
You must do whatever you can to convey trust to consumers. It’s hard to do that when you don’t take every security measure possible.
Multi-factor authentication helps you convey that trust. When you include it in your organization and client portals, it tells people you take security seriously and will protect their information.
- Get Flexibility
One of the great things about two-factor authentication is that it’s flexible. Unlike passwords — where there is only one way to go about things — you have several options for setting up 2FA for your organization.
The first level of customization is how you receive your codes with software. You can get them by email, text message, and authentication application.
There is also the option to use hardware keys. Plug a USB device into your computer, and the key will authenticate the user for the application.
The Benefits of MFA Are Worth It
Cybersecurity isn’t something you can take lightly in business. Hackers are always looking for vulnerable systems to compromise. With how easy it is to make a mistake, you need every advantage you can get to secure your business.
Multi-factor authentication is one of the best protection systems you can use to protect your data. Now that you know the benefits of MFA, start implementing it in your business today to take advantage of the added security.
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