Why Every Business Needs to Use MFA

Multi-factor authentication (MFA) is an effective cybersecurity solution used to protect your business. It’s vital for businesses to control access to sensitive data, and MFA ensures that this information is only accessed by the right people. 

Cyber attacks are on the rise and even small businesses are at risk. A Managed Service Provider (MSP) can help your business set up MFA and other essential cybersecurity tools. 

What is multi-factor authentication?

Multi-factor authentication adds a second layer of protection, in case your login details and password are compromised. MFA can block 99.9% of account attacks. 

There are different forms of multi-factor authentication:

  • Biometrics- authentication based on things like fingerprints and retina scans 
  • Push notifications- alerts sent to your phone or device that an attempt at authentication is being made. 
  • Security questions- questions you answer when you set up your account, such as your mother’s maiden name or your first pet’s name.

Why does your business need multi-factor authentication?

Many small business owners believe their company to be too insignificant to be at risk of cyberattacks, but this often isn’t the case. 

Small firms suffer close to an average of 10,000 cyberattacks daily, and these can come in many different forms. 

One example of hacking that affects small businesses are phishing campaigns. This is when a link is sent from a malicious domain impersonating a company or individual, usually asking for login details or the user to make a payment. This tricks business into giving up personal information.

MFA helps to prevent these types of cyberattacks by adding an extra layer of protection in the case login details are obtained. Without MFA, your business could suffer a data breach resulting in downtime and serious losses. 

Companies that suffer cyberattacks often lose money, and may be forced to close temporarily, or even permanently.

What about remote workers?

Remote working has become more commonplace as technology allows for more online collaboration. However, increasing numbers of at-home workers leads to increasing numbers of cyberattacks. 

In a recent survey, 60% of business owners claimed to have new gaps in their security as a result of the work from home transition. 

Remote workers are particularly susceptible to cyber threats because they use their own devices on private networks that are not secure and may receive insufficient training in cybersecurity practices. 

It is more important than ever to have cybersecurity measures in place such as multi-factor authentication. No matter the size of your business, it is always better to be safe than sorry.

How can a Managed Service Provider help?

Multi-factor authentication is a simple and effective cybersecurity step every business should be taking. 

If you need assistance in setting up MFA, a Managed Service Provider (MSP) can assist you, as well as train you and your staff in how to utilize other essential cybersecurity tools. 

With the help of an MSP, you can guarantee your system, network, and devices are in safe hands. An MSP will continually check your system for weak points and make any improvements. 

MSPs can manage your entire IT system, ensuring that you have all the necessary security measures in place, and relieving what may be a major stressor for you and your business.