These days, a password can no longer be viewed as the most secure way of protecting your account. Read on to learn how Multi-Factor Authentication can significantly boost your online security…
Multi-Factor Authentication and PipelineDeals
As a leading sales pipeline enablement platform, we are ensuring that we’ve got improved security to better protect your account. That’s why we have a Multi-Factor Authentication feature. This means multiple pieces of evidence are required to get into PipelineDeals. In this post, I’ll get into depth about what Multi-Factor Authentication (MFA) is in the software world and how it boosts your online security significantly — no matter what software product you may be using.
Why user name and password are not enough
In today’s digital landscape, there is a multitude of ways how hackers or bots can find out your password, and the research shows that passwords were responsible for 81 percent of data breaches in the past few years. The traditional security approach includes antivirus software, firewall, encryption technology, and passwords. Stealth trojans, phishing software, and other tactics, including cyber-attacks that can crack any password within hours, make this traditional protection unsecured. If we add the fact that two-thirds of people use the same password everywhere, it is obvious why Multi-Factor Authentication drastically reduces the chances of data or identity loss.
What is Multi-Factor Authentication?
MFA is a security protocol for login into your private or business account. Multi-Factor is sometimes thought of as Two-Factor Authentication (2FA), but they are slightly different. Two-factor uses a username and password as a first layer, and then asks your device for a second layer (usually a text message code to your mobile phone) to authenticate your identity — which makes attacks to your data much harder. It will never be more than two steps.
Multi-Factor Authentication uses these same factors, but will also ask you for something you have like token, cryptographic identification device, or biometric (like a fingerprint). The additional layer can be a push notification, fingerprint scan, security question, or combination of multiple factors.
Top Reasons Why You Need to Use Multi-Factor Authentication
The dark web is full of user IDs and passwords, and the collection from various breaches has more than 2 billion records. Many of the significant security breaches could have been prevented with the use of Multi-Factor Authentication. Here are the top reasons why you should consider implementing this method of a secure login.
1. Protect your identity
According to Gartner, companies spent $96.3 billion on security in 2018. An average user has 191 accounts, and only 10% is controlled by IT. If we add the fact that 61% of users use similar passwords across their accounts and more than 45% of users fall for phishing emails, it is apparent why Multi-Factor Authentication is pivotal for identity protection.
2. The rise in cyber attacks
According to the Hiscox Cyber Readiness Report, 61% of businesses were under some kind of cyberattack, which is a significant rise from 45% in 2018. The report deals with small businesses under 250 employees that are as targeted to the hackers as big organizations. Securing your apps with MFA will increase your company’s cybersecurity.
3. Easier and more secure than some other methods
Multi-Factor Authentication is a simple, inexpensive security measure, much easier than some other traditional login methods. Even if attackers have your username and password, there is a slim to no chance for them to intercept the next factor.
4. Stolen passwords
Stolen passwords rarely are a user’s fault when reputable services like Dropbox or Facebook experience a security breach with millions of lost passwords. Hackers use nefarious methods like keylogging, pharming, and phishing to get what they need.
5. Prevent cascading failure
Cyber attackers use sophisticated software and various attacks, but also rely on the human factor. Attaching MFA to your account will help prevent hacks even if credentials are compromised on some other level.
6. User Authentication is a weak point for an organization
Only $4.7 billion out of $96.3 spent on security in 2018 was spent on identity and access management. That means that companies invest in top-of-the-line firewall, antivirus software, network security equipment, and vulnerability tests. On the other hand, employees’ login credentials, if not adequately secured, trump all other security protocols. MFA helps in keeping the front door of the organization closed.
7. Workers are accustomed to Multi-Factor Authentication
Symantec claims that 80% of security breaches could be prevented with Multi-Factor Authentication. No matter how complex a password is, it can be compromised. To prevent stolen passwords, you can implement MFA without fear of major complaints from employees. Most already have smartcards to get onto the premises, and 2FA or MFA for their social media, personal email, and online banking apps — so there should be little to no resistance inside the organization.
Your Sales Pipeline and Multi-Factor Authentication
Using professional business software like sales enablement platform management software is essential for growth and for scaling your business. All the positive impacts that new or existing solutions can have on the organization may be lost if security is not administered at the necessary levels.
By using Multi-Factor Authentication, you can limit data breaches or loss and thwart hackers. Easy-to-use and effective protection methods are a must-have feature for all cloud-based applications. That’s why we have MFA for PipelineDeals. Turn on MFA for all your business apps and better protect yourself, your company, and your clients.
Try PipelineDeals today. Get started with a 14-day free trial by clicking here.