Multi-factor authentication, or MFA can be an important part of the cyber-security of your organization. If you do not have it in your organization, hackers can even infiltrate your shared internal drives and ask for millions of dollars in exchange for the files on those drives. So, we hope that now you understand how important an authenticator app can be for your business. MFA is defined as a system of access control that needs at least two methods of authentication from separate categories to verify the identity of a user at the time of log-in. It is an important component if you want to build a secure network.

The Benefits Of MFA 

Having an authenticator app ensures you have a greater degree of security while dealing with third parties. Are you a large corporation? In that case, there is a high chance that third parties would be accessing your systems for various business-related reasons. Depending on how big you are as an organization, the number of entities going out of and coming into your systems could be hundreds or thousands. It is not easy to monitor such huge numbers without a proper system.

If you can add another form of authentication, such as an authenticator app or a physical or biometric form of authentication, it helps you create a layered defense. 

It Provides You With Better Control Over Who Accesses Your Files

One of the biggest issues of having passwords in such a context is that they can be duplicated or passed around. However, having an authenticator app is always better in these cases as it helps you define who enjoys access to your systems and who does not. This means getting access to confidential and sensitive data. A report done in 2021 by Ponemon stated that 51% of the surveyed correspondents were not assessing the privacy and security practices of third parties before permitting them to access confidential and sensitive information.

On top of this, around 65% of the correspondents in the survey did not identify the third parties who had permission to access the most critical information and data in their organization. This is where MFA can prove to be so useful for you as not only does it limit access, but it also makes sure that only authorized entities can access such data. They are the only ones who are on the list of entities who have been granted access in this case.   

It Offers You A Wide Range Of Choices For Meeting Your Security Requirements 

MFA such as an authenticator app comprises of three basic credentials – what the user knows, what the user has, and who the user is. In other words, an authenticator app relies on a password, a security token, and a biometric authentication device. In the case of MFA at least two have to be employed for the system to work. However, it is you who gets to decide which ones of these are used and the extent of access that you would like to grant to third parties. You can adjust this as per your security and logistical requirements.

It Helps You Meet Regulatory Requirements 

HIPAA (Health Insurance Portability and Accountability Act) makes it mandatory for access to ePHI (electronic protected health information) to be provided only to authorized personnel. You have to implement technical safeguards such as using an authenticator app to make sure unauthorized access can be prevented. Various government institutions also need to follow the CJIS (Criminal Justice Information Services) Security Policy where government cyber-security is needed to implement MFA.

It Reduces Password Risks 

Yet another major issue with passwords is that they can be guessed or cracked. The number of accounts using duplicate passwords is over 65%. This means that if a cybercriminal finds the password to the email account of your employee there is a 65% chance that they would also uncover sensitive and secure information regarding your company that is supposed to lie deeper in the network. A good way to prevent this is to use complex and unique passwords. The better way to stop this from happening in your organization is to use an authenticator app.  With an Authenticator app, even if a password is compromised, a hacker still faces barriers to accessing your sensitive data.

Conclusion 

An authenticator app safeguards your sensitive data by offering protection even if your password is compromised by a bad actor. Such technology keeps your systems and data secure by placing roadblocks to keep out unauthorized users. Hackers may have a password or some other component that makes up MFA, but it is rare for them to have all of them. On top of this, MFA happens to be compatible with SSO (single sign-on) technology. This is why it is also a great solution for companies whose user bases are always growing.  

Passwords have become an integral part of our lives in this day and age. They protect so many important aspects of your life such as your money, work, and correspondence. Your very identity is dependent on these as well. This also means that password management has become an important part of our lives too. Normally, the best passwords have features such as long strings of letters, symbols, and numbers that are unique and not at all connected. However, in most cases the passwords used by people are weak. Either that or they reuse the same password time and again.       

Things To Look For While Choosing A Password Manager

At the most basic level, password managers can be called software systems that manage and store login information such as passwords. In most browsers, all you get is the most basic password management. They can remember your password only till the next time that you log in over there. You can be sure that they do not have the kind of features and level of security that you would get from a dedicated software system in this context. In the more sophisticated members of this fraternity, you would get encryption used by the military to make sure that your details are secure. 

They would lock your passwords in digital vaults that cannot be accessed without a master password or a master key.  

Security Must Be The First Of Your Concerns  

The first consideration that you must think of in this case is safety. These password management systems store your passwords in a couple of places – either the Cloud-based server of the service provider in question or in a vault that has been created in your device. The Cloud-based option is a lot more popular in this case and this is because in these you can access the vault from any device. This means that it would remain secure even if your computer stops working or if you lose it. 

However, some people are not as comfortable with the idea of storing their passwords on the Cloud. 

Looking For Updated Security Measures And Strong Encryption 

These are definitely important factors to look out for when you are trying to get the best password management system out there. In fact, the program needs to be the strongest advocate of extra layers of security. The most prominent examples of such security would be biometrics such as facial and fingerprint recognition technology and two-factor authentication. Most programs are automatically capable of creating strong passwords for every platform that they interact with.    

Ensure Its Compatibility With All Software And Hardware Being Used By You 

You would obviously be using your smart devices such as tablets and phones to store your personal details. The same can also be said of the laptops and desktops that you use. So, you need to make sure that the password management system that you are using gels well with these. Make sure that it works on all operating systems such as Mac, Android, and Windows. In fact, it must be able to work on Linux as well and it must also have an extension for your favorite browser.

Do you use multiple devices? In that case, check the syncing capabilities of the password management system that you have chosen. You can access a Cloud-based vault from any device and a lot of desktop-based programs would let you set up vaults on many devices at the same time. These vaults would be synced when you log on to the web. 

It Must Offer Extra Features And It Must Be Easy To Use 

Always check product reviews of the password management system done by the company selling it as well as the people who have used the same. Doing so would help you find out how user-friendly its interface is. The system in question must be using an easy language and browser extensions must work automatically over there as well. Biometric logins can be rather convenient tools for using such systems on your mobile devices. These days, a lot of these programs include extra features to provide you with additional security.

Some of them flag weak and duplicate passwords thus making you change them. In some other cases, you have to follow a regular schedule for changing these passwords. Some password management systems provide you with security suggestions while you are browsing. In case you have programs where you have to share access with others such as a joint bank account you might have to be willing to create a facility for sharing your password with the other stakeholders in these cases. A lot of these programs also help you store important documents online with all the safety in the world. 

The Important Consideration Of Price 

This may be the last factor to think of while selecting a password management system but it is a galaxy away from being the least. Your digital safety is priceless but that does not mean that you do not have any financial constraints. You do have such systems that can be used without paying any money though. However, the paid systems are obviously better in terms of the features that they offer and the levels of security that they provide you with. In the USA (United States of America) these systems can cost you anywhere between 10 and 60 dollars a year for each person.   

Conclusion 

There are several reasons why you need a password management system. The first of these is that they remember your passwords. As we have said already, in most cases people either use the same password or use weak passwords because it is easy to remember them. However, you can trust these systems to remember all of it for you, and this is something that helps you choose the strongest passwords that offer you the highest level of safety in these cases.