- In SMBs that are more vulnerable to cyberattacks, multi-factor authentication (MFA) provides an extra layer of security by requiring multiple verification factors.
- Assess your business’s security needs, choose the right MFA method (such as mobile app-based, SMS, push notifications, biometrics, or hardware tokens), and set it up across key systems like email, cloud services, and financial accounts.
- Overcome common MFA challenges such as user resistance, compatibility issues, and cost concerns while ensuring continuous monitoring, updating, and educating employees on best practices to maintain a solid cybersecurity plan.
Small and medium-sized businesses (SMBs) are increasingly becoming targets of cybercriminals due to their often less thorough security measures. Luckily, there’s an easy way to keep all businesses, including SMBs, safe: implementing multi-factor authentication (MFA).
What Is Multi-Factor Authentication (MFA)?
MFA is a security process that requires users to provide two or more verification factors to gain access to an application, network, or database. Unlike traditional single-factor authentication, such as a password alone, MFA adds additional layers of security. This makes it significantly harder for attackers to compromise an account, even if they have obtained a password. MFA has therefore become one of the most used cybersecurity methods by cybersecurity experts and most businesses.
Why MFA Matters for Your Business
As an SMB owner, you might feel that your business is too small to be a target, but the reality is quite the opposite. Cybercriminals often target SMBs because they tend to have weaker security practices compared to larger enterprises. Attackers know that smaller businesses are less likely to have extensive security measures in place, making them an attractive target.
Implementing MFA makes it far more difficult for attackers to compromise user accounts. With multiple layers of authentication, the chances of unauthorized access to your systems are significantly reduced. Additionally, many industries, such as healthcare and finance, have specific compliance standards that require the use of MFA. Therefore, MFA not only protects your business but also helps you meet any necessary compliance requirements.
Steps to Implement MFA in Your Business
Implementing MFA in your business can be done by following these simple steps:
Assess Your Business’s Security Needs
The first step in implementing MFA is assessing which accounts or systems in your business require additional protection. Start by identifying high-risk accounts that have access to sensitive information or critical business systems. These might include the following:
- Admin accounts often have access to all areas of your business’s systems, as this makes them a prime target for cybercriminals.
- Email accounts are a frequent entry point for attacks. Securing email accounts with MFA can prevent a hacker from gaining access to sensitive communications.
- Many SMBs store critical business data in the cloud. Implementing MFA for cloud accounts like Google Workspace, Dropbox, or Microsoft 365 ensures your data is protected.
- Accounts with access to your business’s finances are especially vulnerable and should be secured with MFA.
Choose the Right MFA Method for Your Business
Once you’ve identified the systems that need MFA, you’ll need to choose the authentication methods that are best suited for your business. Here’s a breakdown of some of the most common MFA methods:
- Mobile App-Based Authentication: Apps like Google Authenticator or Authy generate time-based one-time passcodes (TOTP), which users must enter in addition to their passwords. This is one of the most secure and widely used MFA methods.
- SMS or Email Verification: While convenient, SMS and email-based MFA are less secure than app-based methods because they can be intercepted. However, they are better than relying on passwords alone.
- Push Notifications: Push notifications sent to a user’s mobile device prompt them to approve or deny a login attempt. This method is user-friendly and more secure than SMS or email-based options.
- Biometric Authentication: Biometrics, like facial recognition or fingerprint scanning, provide a highly secure and seamless experience for users. This method is ideal for mobile users or businesses with high-security needs.
- Hardware Tokens: Physical tokens that generate one-time passcodes are another option. While secure, hardware tokens can be more costly and cumbersome for employees to manage.
Consider the size of your business, budget, and ease of use when choosing an MFA method. Ideally, you should implement a method that combines security with user convenience.
Set Up MFA on Your Systems and Software
Once you’ve chosen an MFA method, you’ll need to integrate it with your business tools and software. Most major software providers, including email platforms like Gmail and Outlook, cloud services such as Google Workspace and Microsoft 365, and accounting software like QuickBooks, offer built-in MFA options. By enabling MFA on these systems, you can protect essential communication, data, and applications. Additionally, if your business has remote employees, ensure that your Virtual Private Network (VPN) or remote work platform supports MFA to protect users accessing your systems from different locations.
Educate Your Employees on MFA Best Practices
With MFA now set up, you need to educate your team on how it works and why it’s critical for your business. You should provide awareness training sessions or send out instructional materials to walk employees through the process of setting up MFA on their accounts. Make sure they know how to authenticate their login attempts and what to do if they lose access to their MFA device, such as if their phone is lost or stolen.
Remind employees of best practices for security, such as using strong, unique passwords in addition to MFA. Strong passwords should be long, complex, and not reused across multiple accounts.
Regularly Monitor and Update Your MFA Settings
MFA requires ongoing monitoring and maintenance to allow it to continue protecting your business effectively. Regularly reviewing MFA settings lets you check that all high-risk accounts are protected and that no gaps have emerged. You should also check audit logs to review login activity and identify any suspicious behavior, such as repeated failed login attempts or logins from unfamiliar locations.
Additionally, it’s important to implement recovery procedures in case users lose access to their MFA methods, such as a phone or hardware token. Having a clear and secure account recovery process provides minimal disruptions and lets your business maintain its continuity.
Common Challenges and How to Overcome Them
While MFA is an excellent security tool, implementing it can come with challenges. One common issue is user resistance. Some employees may find MFA inconvenient or unnecessary, but make sure you emphasize the importance of security and explain how MFA protects both the company and their personal information.
Compatibility issues can also arise, especially with older software that may not support MFA. In these cases, consider upgrading your software or finding alternative solutions that offer MFA compatibility.
Sometimes the cost of implementing MFA, particularly for hardware tokens or software subscriptions, can be a concern. However, the cost of a potential data breach is far greater, and investing in MFA now can save you from far more significant financial and reputational damage later on.
Want MFA and other cybersecurity solutions for your business? Our team at CMIT Solutions of Indianapolis South can help. Contact us today to learn more!
