What Is Two-Factor Authentication and Why Is It Important?  

With cybercrime on the rise, improved security is a must. We recommend implementing two-factor authentication.

The Importance Of Two-Factor Authentication

Two-factor authentication, also known as multiple-factor authentication, gives you an additional layer of protection to the online platforms you access. In the first layer of protection, there is your username and password. The second layer is meant to authenticate your identity. With two-factor authentication, attackers have a hard time accessing your data.

Two-factor authentication systems are mostly designed to ascertain: a part of your body, something you know, or something you have. The following are some of the most important reasons to use two-factor authentication.

Security

The biggest benefit of two-factor authentication is that it improves your security. Since you need an extra form of identification, there is a lower chance of attackers impersonating you to gain access to your computers. Fraudsters can figure out your password. However, they are unlikely to have the extra element that you need for authentication.

Improved Flexibility and Productivity

Remote working is a new trend that helps enterprises improve their productivity. With two-factor authentication, employees can access their corporate documents and applications from any location without having to worry about security threats.

Reduced Fraud

Two-factor authentication can help your business lower the risk of fraud. Even the most minor cases of fraud could have a significant impact on the bottom line of your business. It could affect your brand equity and credibility. Fraud victims are likely to stay away from your business, even if you weren’t responsible for a data breach. Reducing fraud does not only secure your data but also brand.

Increasing Productivity

Improving the security of your data can improve your productivity. Employees can focus on the core functions of your business without having to worry about security issues.

Reduced Security Management and Helpdesk Costs

On average, users call the help desk at least once every month. The number can go up to three times if you have to deal with downtime. Reducing the number of calls by users can reduce your costs. Most calls to the helpdesk are about password resets and security issues. With two-factor authentication, you can take care of the password reset calls to save time and money. It promotes customer satisfaction and improves employee productivity.

Better Customer Retention

High customer retention results from your reputation and ability to earn customers’ loyalty. If customers know that their data is secure, they will appreciate that your business is putting in the effort to care for their needs. They are likely to reward you with loyalty and high sales.

Holistic Approach to Mobile Engagement Solution

In the digital world, consumers and employees know that they can have whatever resources they need right at their fingertips. Even though they improve convenience, digital solutions come with plenty of security risks. With two-factor authentication, you don’t need to compromise your convenience for security. You can continue to enjoy the strong user validation that has become essential for modern enterprises.

Don’t Take Your Security Lightly

The impact of cyber-attacks can be devastating for your business, regardless of its size. It does not only have a substantial financial impact but may also be bad for your brand reputation. 60% of small to medium-sized businesses have to go out of business within six months of a cyberattack. They can lose thousands of dollars from business disruptions and the cost of repairing IT assets. Implementing a two-factor authentication process is a small price to pay for the well-being of your business.

Consider working with Micro Visions if you are looking for an IT company in Grand Rapids, MI. The business offers high-quality, managed IT services and has been in operation for over 30 years. Our team works closely with yours to understand the specific needs of your business and deliver effective solutions.

For more information on how Micro Visions can serve your business’ IT needs, click here to get in touch with one of our representatives or call (616) 776-0400 today!