Why Businesses Need to Adopt MFA

Multi-factor authentication (MFA) is an important security measure for businesses in order to protect their data and systems from unauthorized access. MFA adds an extra layer of security by requiring users to provide two or more factors of authentication, such as a password and fingerprint, in order to access a system or data. MFA can also be easily implemented, making it a cost-effective security measure for businesses of all sizes. Keep reading to learn more about why businesses should adopt MFA.

Increased Security

With MFA in place, companies can be sure that only authorized users will be able to access their data and systems. This helps protect businesses from data breaches and other security threats. Additionally, MFA can ensure that organizations comply with industry regulations, such as those related to data privacy.

Safeguards User Identity

Multi-factor authentication (MFA) is an important security measure that preserves data and user identities. In 2021, Canadians filed 782 breach reports that affected at least 9 million Canadian accounts. 64% of these reports were because of unauthorized access. Clearly, anyone can fall victim to identity theft attacks since hackers use a wide variety of means to gather sensitive business information, including phishing emails. In this scenario, MFA can safeguard your employees’ personal details as well as crucial business data.

Easy to Implement

Despite the many benefits of MFA, some businesses still hesitate to adopt this security measure due to concerns about its complexity and cost. However, MFA is actually quite easy to implement, and the benefits far outweigh the costs. Businesses that adopt MFA can enjoy increased security, peace of mind, and compliance with industry regulations.

Ensures Compliance

MFA helps ensure compliance with regulations and industry standards. This is important for protecting the business’s reputation and avoiding expensive penalties. It is also critical for safeguarding the business’s customers and their data. Also, MFA can improve the security of the company’s communications and transactions, making it more difficult for hackers to commit fraud. This is important for protecting the company’s finances and maintaining customer trust.

Moreover, most Canadian cyber insurance companies now require businesses to adopt multi-factor authentication and have a cybercrime response plan in place to qualify for coverage.

Results in Higher Productivity

Some employees might struggle with remembering multiple passwords, which can restrict their access to tools and resources they need to perform their responsibilities efficiently. With the help of MFA, businesses can now fortify their password policies while also allowing employees to sign in using a way that suits them best. In addition to being more secure and convenient, MFA also empowers employees to securely access their company’s network from remote locations, allowing them to manage their workflows more efficiently even when working remotely.

MFA is a proactive way to enhance cybersecurity in your organization. The ManagePoint Technologies team will provide you with professional cybersecurity services that are tailored to your unique business needs. If you’re looking for IT support services in London, Ontario, contact (877) 262-3620 or click here for more information.