6 Benefits of Multi-Factor Authentication to Businesses and Employees

6 Benefits of Multi-Factor Authentication to Businesses and Employees
Article by DesignRush DesignRush
Last Updated: October 16, 2022

With technological advancements, cyber-attacks have become more sophisticated and cheaper.

And when it comes to your business's online security, passwords might not cut it anymore.

Protecting the information of your company and employees should be one of your top priorities as a security-conscious business owner or an IT manager.

It would help if you implemented better authentication tools to protect against data breaches, phishing attacks, password guessing, and more.

Multi-factor authentication (MFA) is one of the most robust security features that can be used to protect company information.

It provides an extra layer of security by requiring a second form of identification before users are granted access.

Let's look at the other benefits of multi-factor authentication to businesses and employees.

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6 Benefits of Multi-Factor Authentication

1. Improves Your Business's Security

When you have your employees or other users of your organization logging in with passwords alone, you are at risk.

These passwords could be phished, guessed, or otherwise compromised. According to IBM, companies lose around $4.24 million to a data breach.

But if you use multi-factor authentication, hackers won’t have all the pieces needed to log in.

That’s because with MFA, each time you sign in to an account from a new device or browser, you'll be required to enter additional information, like a code sent via text message, that only you or the user know.

An MFA helps ensure that only people who have a legitimate reason for accessing your accounts—and not hackers or fraudsters posing as employees—can get past security measures.

2. Protects Passwords from Being Compromised

Did you know that roughly 4,800 websites get compromised in a month?

There are plenty of ways that your employees might accidentally or deliberately lose their passwords.

They might get caught in a browser history catastrophe and accidentally close their browser window with the login page still open.

They might also have their PCs stolen or otherwise compromised, leaving their login information wide open for malicious actors to use.

Those using the same password for years are even more at risk.

On the other hand, new employees may have just started using the same password for all their accounts.

Meanwhile, others may have created a password that is too easy to guess or crack.

The bottom line is that your employees are probably using passwords that are too easy to get past.

Using those same usernames and passwords, an attacker can use stolen credentials from one site to try and take over another page.

Research shows that 81% of breaches today involve such attacks. But with multi-factor authentication in place, this would become impossible.

3. Customizable and Adaptable Security Solution for Employees

If you implement MFA for login access, your employees must use two-factor authentication whenever they want to log in.

One of the multi-factor authentication benefits is that they will be denied access if they try to log in with just their password.

This means you can customize how your employees log in and which factors they need to use to get past this second line of defense.

For example, you may decide that your most essential users need to use a combination of the following:

  • A password
  • A fingerprint scan
  • A one-time code sent to their phone

On the other hand, employees who don’t need access to as much information or who work remotely could be required to use a password and a one-time code sent to their phone.

This customizability allows you to create a multi-factor authentication system that fits your business needs.

Also, if you have a system or app with a login page, you can use the MFA token to authorize actions and make changes to that account.

For example:

  • Your employees might use the MFA token to approve a client’s request for a refund.
  • You can use the MFA token to log in to other apps.
  • An MFA can make it easier for employees to perform other tasks, such as updating your company’s data and information.

4. Single Sign-On (SSO) Compatibility

One of the best multi-factor authentication benefits is that it’s compatible with single sign-on (SSO), which makes it easier for users to log in to the applications they need.

Instead of having to remember multiple passwords, you can use a single password to access all your accounts.

SSO allows the system to remember their credentials and automatically log them in when they return.

This simplifies the logging in process, making it easy for users to access their applications without having to remember multiple sets of credentials.

Single sign-on also simplifies the management of user accounts. If a user changes their password or needs to be removed from an account, this can be done centrally rather than having separate teams that must manage each user account.

This is especially beneficial for employees with multiple accounts for different applications and work and personal accounts.

Multi-factor authentication allows you to use a single set of credentials across all your applications without managing multiple logins and passwords.

5. Great for Scalability

Scalability is one of the features that differentiates multi-factor authentication from other authentication methods.

Multi-factor authentication can be deployed to accommodate changing user bases, use cases, and platforms.

Authentication can be scaled up to accommodate additional users or scaled down for peak usage periods.

Multi-factor authentication also provides flexibility in terms of application control and device compatibility.

The security policy can be set to allow access from any number of devices or applications. This makes multi-factor authentication scalable across different platforms and devices without compromising data security or usability.

6. Ideal for Enterprise Mobility

Multi-factor authentication is one of the most effective ways to protect your business, and it's crucial on mobile devices.

Mobile security has become more apparent in recent years as businesses have adopted mobility to increase productivity and efficiency and respond quickly to changing business demands.

The data generated by mobile devices is often precious and sensitive, so companies must deploy strong enterprise security measures when working with these devices.

Multi-factor authentication combined with secure password management can be used to help protect your organization against cyber threats on both desktop computers and mobile devices.

Benefits of Multi-Factor Authentication: Final Thoughts

When it comes to your organization's security, you can never be too careful. Hackers and outside malicious actors constantly try new ways to get past your defenses.

That's why you must keep coming up with new strategies to fight them off and keep them at bay. And one of the best ways to do this is by implementing multi-factor authentication for login access.

It's possible to enjoy the benefits of MFA without having to replace your current security protocols completely.

You can easily build on your old solutions using multi-factor authentication as a complementary tool.

And when you do so, you'll be protecting your employees and your business from outside attacks— reducing the possibility of a costly data breach that could put your entire organization at risk.

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