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Why Two Factor Authentication Should be a Requirement for SMBs in 2017

Two factor authentication is gaining popularity quickly for good reasons. This technology makes it much more difficult for hackers to gain access to accounts, thus providing business owners with more security and peace of mind. In addition, two factor authentication is inexpensive and easy to use.

What is Two Factor Authentication?

Two factor authentication is a form of identity verification that requires the user to prove his or her identity in two different ways when logging into an account. In most cases, one factor is the user’s password and the other is a physical object, such as a specific computer, mobile phone or token. When logging into an account, the user will first be asked to provide his or her password. Next, the second factor will be verified. If either of these factors is missing, the user won’t be able to log in.

Why is it Important?

Two factor authentication makes it more difficult for malicious individuals to access accounts than don’t belong to them. In today’s world, hacking tactics are highly effective, and usernames and passwords just aren’t enough protection anymore. Some of the benefits of two factor authentication include:

  • Better security – Perhaps the most obvious benefit of two-factor authentication is better security for your company, your employees and your customers. With this technology, the chances of a hacker breaking into your system are much lower.
  • More peace of mind – Knowing that your accounts and data are well-protected provides you with peace of mind, allowing you to worry less and focus more energy on other tasks.
  • Cost effectiveness – Two factor authentication is not expensive or difficult to implement, making it a cost-effective choice for businesses.
  • Protection for your business – Nothing ruins your business’s reputation quite as quickly as a security breach. If a breach compromises your customers’ data, you have to inform them and take steps to protect them from harm. Not only is this costly, but it can also cause you to lose business. Two factor authentication makes these breaches much less likely, which reduces the chances of an embarrassing situation.
  • Guarantee of employee involvement – Implementing two factor authentication in the workplace necessitates employee buy-in, thus ensuring that every employee’s account is protected. When two factor authentication is required, employees must use something for their second factor. This means that even employees with weak passwords or a propensity to share passwords will have a reasonable amount of account security.

Implementing Two Factor Authentication

Because of the benefits of two factor authentication, as well as the ever-increasing threat of security breaches, two factor authentication is highly recommended for both businesses and individuals. Some people complain that two factor authentication is more cumbersome than simply inputting a password. However, this is a small price to pay for extra security. Even though it may take you a little more time to log into your accounts, hackers will have much less success when they try to break in illegally. If you aren’t already using two factor authentication to protect your company, it’s time to make this technology part of your everyday security protocol.

Key Takeaways

  • Two factor authentication is a form of identity verification that requires the user to prove his or her identity in two different ways.
  • Two factor authentication offers several benefits that make it a good tool for businesses, including better security, better peace of mind, more employee involvement and cost effectiveness.

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