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Audit - Business

The data your business generates is sensitive and needs to be kept secure from security threats including data breaches and malware. Safeguarding your data requires more than a few password resets.

Whether you are a small or medium-sized business, your cybersecurity solutions should be modern and robust. Nowadays, employees expect businesses to adhere to their desired working arrangements. This can be a double-edged sword—you want to keep your staff happy but also reduce the chances of falling victim to a cyberthreat.

Of all the solutions available, multi-factor and two-factor authentication are some of the most common cybersecurity measures.

What is multi-factor authentication?

Multi-factor authentication (MFA) is a system that requires several forms of identification for a user to access their account. MFA can be used in cases where simple authentication solutions are no longer enough to protect sensitive information.

Multi-factor authentication requires a user to satisfy pre-conceived policies based on the following areas:

●    Inherence: Something related to your biological makeup. This can include facial identification, a fingerprint, your voice, etc.

●    Possession: Objects that can be used to prove your identity, such as a mobile device, physical ID, tokens, etc.

●    Knowledge: Key pieces of information. Authentication measures based on knowledge can encompass PINs, passwords, answers to security questions, etc.

●    Time: Grants you access to networks based on the time you are trying to log in.

●    Location: Where you are when you want to access your information.

MFA can help bolster pre-existing layers of security around your company’s data. No matter the size of your staff or how your business operates, MFA can be used to validate and attest to the integrity of incoming users.

This is crucial for ensuring your business’s and customers’ safety as it makes it challenging for outside parties to trick or bypass the factors specified above.

What is two-factor authentication?

Two-factor authentication (2FA) is a branch of MFA. This security solution adds an extra layer of protection by asking users to provide two forms of identification to prove their validity. These pieces of evidence are drawn from the authentication factors that serve as the foundation of MFA.

A good way to understand 2FA is to look at Microsoft’s Authenticator app. Upon implementation, this solution asks its users first to provide a username and password (knowledge) when logging into a network. Afterward, it will ask for further verification, such as a code sent to a device (possession).

Whether you need to secure a database or you want to restrict the number of users who can access a specific program in your business, 2FA is a defensive solution to protect your company’s networks and data.

What is the difference between MFA and 2FA?

Even though MFA tends to use three or more solutions, it can also support two factors. On the other hand, 2FA is limited to two procedures. However, the chief difference between the two cybersecurity practices is the user experience and convenience.

On the surface, the following can seem obvious: The more security processes you adopt, the more secure your networks, employees, and customers are. But extra steps mean you and your staff must spend more time gaining access to your IT infrastructure.

Technology can be complicated, and users who feel it is a chore to use it may become dissatisfied and attempt to speed up the process with methods that can put your organization’s security at risk (for example, easy-to-guess passwords).

While the difference between 2FA and MFA may seem minor, it cannot be denied that both are capable of securing your data and protecting your business’s reputation.

Which should your business use?

Like with the hardware and software you use to build your company’s IT infrastructure, MFA may work for one business, but another would benefit from 2FA. In other words, the best solution for you is determined by your situation and the types of factors that you want to use to protect your systems.

A small business with less than ten staff may benefit from using 2FA, whereas it makes sense for an enterprise to use MFA. No matter which you choose, the benefits of two-factor authentication and multi-factor authentication are:

●    More foolproof cybersecurity: 43% of cyberattacks target small businesses. Additional security measures provided by MFA and 2FA better secure your network from external and internal threats.

●    Adaptable policies for changing work conditions: Whether you are considering being a hybrid company or you work fully remote, you can have peace of mind knowing that your organization’s endpoints are harder to access for those without the right requirements.

●    More robust data protection: Your data contains insights into your company and customers. Authentication measures can make it harder for cybercriminals to access this information.

Cybercrime can cause long-term consequences for your company and its stakeholders. As a business owner, you know you cannot leave the safety of your systems to chance. You need to be proactive, converse with security specialists, and implement modern solutions regularly.

MFA and 2FA for your company

Single-factor authentication is not enough to protect your company’s data from identity theft and other threats. 2FA and MFA can ensure that only authorized individuals have access to your network. Both are easy to use and can be tailored to suit the needs of your business and provide you with reliable protection against today’s cyberthreats.

The cybersecurity specialists at PWR Technologies are experts in all forms of multi-factor authentication and business security. Speak to them today to bolster your organization’s security framework and protect the well-being of your data.

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