Security is paramount for any small business today. According to a recent report from Barracuda, cyberattacks compromised 1 in 5 organizations surveyed in 2021. So how do you begin protecting your business when there are so many facets to consider to ensure your data, customers, and employees are secure. Passwords and multi-factor authentication are great places to start the conversation.

Passwords and the need for Multi-factor Authentication

There tends to be an assumption that if your password is long enough and complicated enough, it will be the key to halting hackers in their tracks. While developing a solid password is essential, and you can read more on how to do that on our blog, a password alone is not as secure as you might think. According to this article from Web Tribunal, 61% of security issues result from stolen or compromised login information. The same article revealed that over 23 million individuals utilize “123456” as a password.

The trouble is that hackers are constantly finding new ways to uncover your passwords. So new technologies have incorporated additional layers of security. Enter multi-factor authentication.

What is Multi-factor Authentication? 

You’ve most likely experienced multi-factor authentication or MFA when your bank or credit card company requires you to enter your password and provide a secondary code from a text message to access your accounts. This security protocol requires individuals to provide at least two forms of authentication, sometimes more, to access data, software, or a website.

Benefits of Incorporating MFA for Small Businesses

Using multi-factor authentication provides increased security and reduces potential risks to your business and clients. In addition, MFA solutions are often customizable and compatible with single sign-on. So, if you’re using MFA for employees, they can log in once using the tool and potentially gain access to multiple systems simultaneously.

Utilizing MFA is also beneficial for compliance purposes. Depending on the industry, some regulations require MFA. Learn more about compliance and its importance to your business in this blog.

Two great places to start are Microsoft Authenticator and Google Authenticator. Both are commonly used MFA tools for personal and professional use. Reach out to your managed service provider for guidance in setting up MFA for various aspects of your business, and if you don’t have an MSP yet, our team is happy to serve. Reach out to us directly here.