7 Reasons You Need Multifactor Authentication (MFA)

Network security is a serious issue in today’s world. While the adoption of technologies like Cloud computing has streamlined many processes, it also increases security risks. If you are a business owner, you understand the implications of a breached network. This not only hurts your business but affects your reputation as well. One way to prevent such incidents is Multifactor Authentication (MFA).

MFA is an authentication process that incorporates various verification methods before you can access a network or an application. It creates a multi-layered security system that keeps unauthorised users out. For instance, with Cloud computing users no longer have to be on the same physical network. This negates a security factor that would otherwise make it more difficult for hackers. MFA solutions can address these issues. So if you’re considering adopting MFA for your business, let us give you 7 reasons why you should get it today.

Why Your Business Needs Multifactor Authentication?

The importance of Multifactor Authentication cannot be overlooked by businesses today. In an age where almost everything is available on the internet, securing your data or system is non-negotiable. That is why relying solely on traditional passwords is no longer sufficient. MFA, also known as two-factor authentication (2FA) or two-step verification, adds an extra layer of security to your accounts beyond just a password. Let us look at the top 7 reasons why MFA should be at the top of your to-do list.

  • Next-level Security : With the advent of remote work, employees will not always be on the same physical network. This is where MFA can prove its worth. It provides advanced security, particularly in remote work scenarios. Attempted unauthorised access becomes more challenging when MFA is combined with an SSO solution. MFA can thwart such attempts and alert your IT department, enabling swift action against potential threats.
  • Protect Sensitive Data : MFA plays a crucial role in safeguarding consumer identities. It adds an extra layer of protection to the traditional username and password login. Cybercriminals face significant hurdles when attempting to breach time-based one-time-password (TOTP), which is transmitted either via SMS or automated phone calls. Accessing a system or resource will now require two pieces of information, enhancing security and user vigilance.
  • Better Security than 2FA : Multifactor authentication offers superior security levels compared to two-factor authentication (2FA). With MFA, your employees and customers will be required to confirm their identity using a combination of a password, a Time-based One Time Password (TOTP), and Google Authenticator. This robust approach ensures that the user’s identity is thoroughly verified.
  • Ensure Compliance : As technology advances, so do the rules. You will have to implement MFA to comply with new industry regulations. For instance, the Payment Card Industry Data Security Standard (PCI DSS) mandates MFA in specific scenarios to prevent unauthorised access to systems. Even amid unforeseen consequences resulting from application updates, MFA compliance remains minimally intrusive.
  • Easy Implementation : If you’re worried about implementing MFA for fear of disrupting your daily business, we’re here to assure you it won’t. We understand that upgrades can potentially set off a chain reaction of tweaks and adjustments. That is not the case with MFA. The process is smooth and minimally disruptive. It seamlessly integrates into the virtual environment and offers an intuitive user experience.
  • SSO Compatible : Another reason to adopt MFA is its compatibility with Single Sign-On (SSO) solutions. So if you’re still asking yourself, why implement MFA?” SSO compatibility is your answer. It simplifies user access across various applications. With secondary authentication through SSO, user identities are confirmed, which eliminates the risk of data loss due to forgotten passwords. This not only saves time but actively bolsters security.
  • Comprehensive Cybersecurity Solution : MFA also serves as a potent cybersecurity solution. Most smaller businesses do not have the financial capability to field large IT departments. However, with MFA, you can get a robust security system in place. Hackers will encounter significant obstacles when attempting to access your network, thanks to security measures like TOTP and Google Authenticator.

Personalised Multifactor Authentication Security Solutions at MSP Corporation

Most small businesses have one single question in their minds – why is multifactor authentication important?

As cybersecurity is an ever-changing dynamic, you must stay one step ahead. Multifactor authentication solutions are not just a trend; they are a necessity. Adopting MFA not only enhances security but also boosts user confidence and trust. You can operate in the digital realm with peace of mind, knowing that your sensitive data is well-protected.

Helping you understand the advantages and the resulting improved security is part of our job. At MSP Corporation we focus on providing complete, secure but cost-effective IT solutions to our clients. Our approach considers your requirements, your industry and market trends when designing a solution to ensure it suits your Business’ specific needs.

So, take a step forward today to fortify your digital security and reach out to experts. You can call us on 1300 554 404 or email us at sales@mspcorp.com.au for details.