As cyber attacks become more common and costly, businesses are looking for new ways to protect their systems from being hacked. There are tools and resources being developed in an effort to combat the advanced tactics that cyber criminals are using– Multi-Factor Authentication (MFA) is one of them.
MFA has been shown to drastically reduce the capacity for cyber criminals to infiltrate a company’s network to cause damage. This effective cybersecurity tool can prevent over 99% of security breach attempts. Not only is MFA an excellent way to protect your business data, it’s also a user-friendly way to add an extra layer of security for employees.
MFA – What is It?
Multi-Factor Authentication MFA adds an extra layer of cyber security to such applications using time-based one-time password (TOTP) via call or SMS, Google Authenticator, or other authenticator apps. Moreover, it is better than two-factor authentication because it can add additional levels of security. It can help an organization achieve zero-trust security remotely.
This cybersecurity software was created in response to the many cyber attacks businesses face on a regular basis. By requiring more than one element for authentication, this tool makes it much harder for cybercriminals to gain access to your systems and data. Not only does it protect your business data, but it also adds an extra layer of security for employees logging into their accounts from remote locations.
Benefits of using MFA
Multi-factor authentication works by requiring multiple, independent factors in order to log in to an account. These factors could include a one-time password, a security token, or biometrics. Requiring at least two elements to gain access adds additional protection to the account, as it’s significantly more difficult for a cybercriminal to have access to both. The benefits of adding additional cybersecurity measures include:
- MFA provides more layers of security than 2FA.
- It ensures correct user identity – MFA is an important tool for protecting consumer data from identity theft
- Implementing multi-factor authentication can be a key requirement when it comes to complying with certain industry regulations.
- It complies with Single Sign-On (SSO) solutions.
- MFA adds an extra layer of security to your remote workforce, notifying your team when users are blocked from accessing an account due to failing authentication.
- Most cyber insurance policies now require MFA as a basic cybersecurity measure and without it you may not be eligible for a protection policy.
How Can an SMB Implement Multi-Factor Authentication?
Multi-factor authentication software can be integrated into an SMBs cybersecurity infrastructure by protecting both employees’ accounts and company information from being hacked by cyber criminals. By requiring the use of MFA through application software, confidential information will become a lot less accessible to unauthorized users.
Small businesses can implement MFA into their security features by working with a cybersecurity specialist who can help set up the software and create policies for its use. It’s important to remember that MFA is not a cure-all for cybersecurity, but rather one part of a security strategy. When used in combination with other security tools and best practices, MFA can be an extremely effective way to protect your business data from cyber attacks.
What Are Some of the Authentication Apps Out There?
There are various authentication apps available for companies to adopt and use for additional cybersecurity support. Although each brings certain characteristics to the table, it will come down to personal preference and which works best for your company’s needs. A few popular choices for 2022 include:
Increase Your Company’s Cybersecurity with Managed IT Services From Praxis
Keeping confidential customer and company information protected is a priority for all companies. Multi-factor authentication is a proven tool for increasing cybersecurity that can easily be implemented. Praxis can help your company find the best application to fit your needs, and can additionally provide comprehensive security solutions for your business.
Give us a call today to see how we can increase your business’s network protection.