Benefits of Multi-Factor Authentication for Business: Why It’s Still Important

Multi-factor authentication (MFA) has been a key cybersecurity safeguard for years, and it’s seemingly ubiquitous these days. Even as new technologies have emerged and the cybersecurity landscape has changed drastically, multi-factor authentication is still a critical component of a thorough approach to cybersecurity after all this time.

Every time you turn around, there’s another code to fill in, face to flash, or “magic link” to click on. And while users may not always love the extra step, most people understand that it’s there to protect them.

But, despite the fact that most businesses implement multi-factor authentication, not all businesses implement it correctly across all use cases. If multi-factor authentication doesn’t stretch far enough, you leave key accounts or applications vulnerable to security breaches. Here, we’ll look at why multi-factor authentication is still king, what the benefits are of keeping it a priority and what strong cybersecurity looks like across the board.

Why Multi-Factor Authentication Is Still So Effective and Beneficial

When log-in information is stolen, it can end up in huge databases. Multi-factor authentication ensures that even if a thief has the correct user name and password, they still won’t be able to log in.

When we think of multi-factor authentication, we usually think in terms of security keys or biometrics, but a strong MFA strategy will ideally be tailored to the organization. That may mean bringing back more analog authentication. (For example, a financial institution might have the CFO call the CEO or stop by their office before any cash transfer over $100,000.)

MFA establishes a baseline control that can work across all connected applications. It can provide a foundation that reduces risk without drastically infringing on an employee’s workflow.

Why Many Businesses Fail at Multi-Factor Authentication

If a business isn’t reaping the full benefits of multi-factor authentication, it’s usually not because they don’t have some version of it, but because it isn’t consistently applied across the company. If even one account can bypass its enforcement, it opens up bigger risks to the larger network.

Some multi-factor authentication issues are unintentional, like if an MFA software update fails on an older application and the tech team doesn’t catch it until it’s too late. Some are more calculated, like when a company turns off multi-factor authentication for a temp worker filling in for a full-time employee. No matter why the protection is compromised, though, it makes it that much easier for a bad actor to make their move.

What Strong Multi-Factor Authentication Looks Like

Strong multi-factor authentication comes down to consistency; from third-party vendors to the CEO, anyone with access to company systems should be held to strict security standards. And everyone should know what’s expected of them if and when they encounter a potential security issue.

Here are a few key similarities of a solid multi-factor authentication strategy:

• IT applies multi-factor authentication to all new accounts, as opposed to being added after creation.
• IT spreads out privileged accounts to reduce the business impact if one is compromised.
• IT steps up verification requirements according to the sensitivity of the information or access levels.
• IT regularly reviews applications, accounts and log-in methods to ensure that they’re properly configured.

Managing Multi-Factor Authentication Well Leads to Even Greater Benefits

Most people know what it’s like to sigh at a log-in screen with repeated authentication requests, but it doesn’t have to be that way. Companies can find authentication methods that actually support an employee’s workflow rather than throw a wrench into every log-in attempt.

For example, you can enable multi-factor authentication to flag the most suspicious activity, as opposed to creating obstacles for standard tasks on recognized devices. You can also enforce single sign-on policies, so there are fewer prompts and fewer workarounds. The idea is to work with your employees, ideally taking your cues from their patterns to achieve multi-factor authentication harmony.

Still, multi-factor authentication must keep up with both established and emerging security threats. Handling challenges comes down to consistent oversight and practical solutions:

• Replace shared accounts with individual accounts and spread out privileged information or access whenever possible.
• Use phased implementations to reduce employee disruption and give your team more time to identify and close any security gaps.
• Prioritize the biggest risks and implement additional verification steps to safeguard critical data without severely disrupting workflow.

The standard advice is to implement across the board, no matter what, and then go back and close any gaps. For example, IT should enable multi-factor authentication rules across the whole environment, even if they already know that the rules won’t apply to specific legacy applications or accounts. After, they can go back and individually address each asset.

And because new accounts get added, employees turn over, access-level changes are made and new phishing tactics emerge, your systems may need to change with every new update. Regular reviews can preserve your security across high-risk sign-ins, balance employee workflow with requirements and catch one-off exceptions that seemed like a good idea at the time.

Learn More about the Benefits of Multi-Factor Authentication for Your Unique Organization

With the proliferation of AI, there’s never been a better time for criminals to explore the wide world of cybercrime. Multi-factor authentication remains a solid way to avoid credential theft and account takeovers, and the strongest results come from complete coverage and vigilant, ongoing management.

To learn more, contact your Warren Averett Technology Group advisor directly, or ask a member of our team to reach out to you.