An extra layer of protection that makes life harder for hackers. Two-factor authentication (2FA) is one of the most effective ways to prevent password breaches. Let’s take a closer look at how 2FA works and why your company should use it.
What Is Two-Factor Authentication?
Multifactor authentication, two-step verification, two-factor authentication, or simply 2FA... This essential method goes by many names, but at its core, it’s about adding an extra layer of security to your online accounts by requiring one or more additional methods (or factors) during login.
The principle is to combine something you know (your password) with something you have (like your phone) to confirm your identity. This makes two-factor authentication a powerful tool for preventing breaches since hackers need to crack your password and gain access to the second verification method to access your account.
There are various technical solutions for two-factor authentication, but common examples include verifying your identity via mobile BankID, an SMS code, or an authentication app like Google Authenticator or Microsoft Authenticator. Some solutions use biometric methods such as fingerprint scanning or voice recognition.
Why Is It So Important?
So, why do we (and many others) believe that two-factor authentication is necessary? The short answer is that even the most robust password isn't enough. Hackers' methods are becoming increasingly sophisticated, and every year, thousands of incidents occur where people have their log in details stolen through phishing or malware.
What complicates things further is that most of us use the same password across multiple sites. This means that if a hacker gets hold of a single password, they could gain access to several accounts, potentially even hijacking your email. Is there a simple and effective way to prevent this? Exactly (you saw this coming) – enabling two-factor authentication on all applications supporting it.
Here are four strong reasons your company should fully implement two-factor authentication:
1. To prevent data breaches
Without two-factor authentication, your company is more vulnerable to attacks where hackers could access and spread sensitive information.
2. To comply with laws and regulations
Many industries require companies to use strong authentication methods to comply with laws and regulations. Not using security mechanisms like two-factor authentication can lead to legal consequences and fines.
3. To avoid financial losses
If things go wrong, the costs of handling security breaches, restoring data, and dealing with legal repercussions can be significant. Additionally, the company may face direct financial losses such as lost revenue.
4. To maintain customer trust
Last but certainly not least, customers and partners expect their data to be handled securely. A security breach can devastate a company’s reputation and lead to a loss of trust from existing and potential customers.
Three Tips to Integrate Two-Factor Authentication into Your Security Culture
Two-factor authentication is an effective way to reduce the risk of IT incidents with severe consequences. And with today’s technology, getting started doesn’t require significant investments. Most modern cloud services now come with built-in 2FA solutions that can be activated with a few quick clicks in your account settings and are easy to use.
That said, transitioning to two-factor authentication shouldn’t be a major issue. However, to make it as smooth as possible, here are a few things you and your colleagues can keep in mind:
1. Inform all employees about two-factor authentication, what it is, and how it enhances security for both individuals and the company. For those unfamiliar with it, 2FA might seem a bit cumbersome since it adds an extra step when logging in, but increased awareness usually leads to greater acceptance.
2. Ensure that all employees have access to clear instructions on using 2FA and know where to turn for help or questions.
3. Ensure there are clear guidelines regarding two-factor authentication in your IT security policy or password policy.
Work Safely with Two-Factor Authentication in Flex HRM
At Flex Applications, security is everything. We continually enhance our HR system, Flex HRM, with features that help you work securely and efficiently, including the option to use two-factor authentication as an extra layer of protection when logging into Flex HRM.
Our solution requires you to enter a one-time code sent to a mobile app in addition to your username and password to verify your identity. Getting started is easy, and settings can be configured at various levels to suit your company's specific practices.
Want to know more about our support for two-factor authentication? Or perhaps some of our other tools in Flex HRM that make everyday life smoother, simpler, and safer for employees, HR, payroll, and managers? Contact us today!
