If Your Business Doesn’t Have Multi-Factor Authentication, It Should!

Businesses lose on average around $1.3million for every data breach. So strong cybersecurity is vital for businesses to survive in today’s technological world. Unfortunately, a strong password is no longer enough to protect your data.

But don’t worry! There are lots of data security solutions you can put in place for your business. A popular option people are switching to is a multi-factor authentication approach. 

Keep reading to learn everything you need to know about multi-factor authentication and how it can benefit your business. 

What Is Multi-Factor Authentication?

Multi-factor authentication (MFA) is an extra layer of security for your business.

You should still have firewalls, antivirus, and remote access policies. But these defenses are designed for defending your system once someone has already accessed it. MFA makes it harder for someone to gain access in the first place. 

This approach means employees must sign in to your system using at least two methods to confirm their identity. For example, they could need both their password and a one-time pin code. The pin would be sent to their registered device, so only they would have access, and it would expire after a few minutes.

In this example, the hacker can’t gain access to your system because they don’t have the phone with the pin. 

If this all sounds a little overwhelming, don’t panic! You can hire managed IT services here. 

Benefits of Multi-Factor Authentication

MFA makes your business safer. It keeps your data secure, which keeps your business compliant and even boosts your profitability. Clients are more likely to work with you when they know your company is secure, and you don’t lose time to IT-related delays. 

Data Security Compliance

Lots of states and countries are passing new legislation around measures that have to be taken to protect data. If you want to work within the US, or with international clients, you need to check the various guidelines surrounding data protection.

MFA keeps your data secure enough to meet these guidelines.  

Protects Against Identity Theft

When an employee’s identity is stolen, this can include access to their passwords and other credentials. With MFA in place, even if someone has stolen these passwords, they can’t access your system. This is because they can’t authenticate their identity with other required credentials. 

Avoid IT-Related Delays

MFA can even help your business in ways that don’t relate to data breach solutions! If your employees lose or forget their passwords they usually need to contact your IT department and wait to gain access to the system again. 

This wastes precious time for your business. MFA means employees can prove their identities without their password, and have access to reset it. Your profits increase when your employees don’t lose productivity to IT-related delays. 

Get Multi-Factor Authentication for Your Business

Multi-factor authentication is a pillar for IT business solutions. Protect your work, your employees, and your clients by setting it up for your business today. 

If you enjoyed this article, please take a look at our blog for more content!