Cyber Security Firms Share Simple Guide to Using MFA for Small Businesses

Small businesses face the threat of cyberattacks as much or even more than bigger companies. In fact, approximately 46 percent of hacking incidents were directed to companies with less than 1,000 employees while 37 percent of ransomware was directed to businesses with less than 100 staff. This is because hackers gain access through weak or stolen passwords that are typically found in smaller companies. The question is: how can they resist? Among other things, cyber security firms suggest the use of MFA or Multi-Factor Authentication to strengthen login security by introducing an extra layer beyond the password.  

Cyber Security Firms Share Simple Guide to Using MFA for Small Businesses

Below are some cybersecurity measures that will allow smaller business owners to protect information through MFAs and eliminate costly cyberattacks.  

Why MFA Is a Must-Have for Small Businesses 

Many small businesses believe hackers won’t target them. This is a mistake, according to cyber security firms. On the contrary, small businesses are often easy targets because they lack advanced cybersecurity tools. Weak passwords lead to stolen information, loss of funds, and even legal issues. MFA not only reduces the risk, but it also brings peace of mind.  

What Multi-Factor Authentication Means 

MFA is a login method that requires two or more verification steps to confirm a user’s identity. This is an added layer of protection that your system needs to have besides a strong password. According to cyber security firms, these verification steps fall under three basic categories: 

Something You Know 

This is the type you are most likely to have–your password or what is called a PIN. However, passwords are not the only safe thing. Hackers can guess, steal them from outside, or swindle them from you. That is why this is not the only step in MFA. An example of this is a password of your email or a code with 4 digits. 

Something You Have 

Cyber security firms explain that this involves something physical that only the user can access. It can be a phone, an application, or a token that produces one-time codes. This could be through SMS codes, a security key, USB, or smart card, or a real-time authenticator application such as Google Authenticator/Microsoft Authenticator. This would also be necessary even when your password is stolen. 

Something You Are 

Biometrics falls under this category, which includes fingerprints, facial recognition, and retina scans. They are nearly impossible to deceive and are inherently personal. Common biometrics used are the phone’s face ID, fingerprint readers in laptops, and advanced systems of voice or iris scanning. This amount of security can hardly be overridden without the actual you.  

Getting Started with MFA in Your Business 

MFA does not seem user-friendly to implement, but it is simpler than that; cyber security firms clarify. This is a guide to getting off on the right foot.  

Check Your Current Setup 

Cyber security firms suggest starting with a security check. List accounts and systems that process sensitive data. Start MFA where it matters most. Top areas to secure first include email accounts. cloud storage like Google Drive and Microsoft 365, financial systems, and internet banking. This should also include customer data platforms, work-at-home remote work tools and as well as other high-risk assets.  

Cyber Security Firms Share Simple Guide to Using MFA for Small Businesses2

Choosing the Right MFA Tool 

Cyber security firms emphasize that there’s no need for expensive tools or hardware. A lot of MFA solutions are suitable for small teams. You can choose among providers depending upon your company size, the tech capabilities of employees, and security requirements. Some of the more popular MFA includes: 

• Google Authenticator– Frank and easy. It is compatible with numerous online services and creates time-based codes.
• Duo Security-Famous for its usability. It has flexible deployment with advanced and basic features.
• Okta-Excellent with expanding groups. It has biometric logins and push notifications.
• Authy-Syncs on all devices and can back up to the cloud. Perfect when teamwork is distant and requires flexibility. 

Applying MFA to Your Business Tools 

Once you have chosen your MFA tool, go ahead and implement it. Start with Key Systems, this means securing such systems as email, file sharing applications, and customer management systems. Next, require it to be used and applied by all employees for all their business logins. This should also include the remote employees and contractors. In line with that, training and support are also essential given that not all of your staff are tech-savvy. This means you need to take employees through the process by providing clear instructions, instructional videos, or live assistance when necessary. Effective roll-out translates to fewer mistakes and adoption, according to trusted cyber security firms. 

Keep Your MFA Strong and Up to Date 

Threats in the cyber world evolve rapidly. Your MFA configurations must keep pace. Cyber security firms add that good maintenance will be seen in your MFA being reliable and secure. 

• Update Your MFA Methods

Where possible, use stronger alternatives such as biometrics or hardware tokens. Build upgrades into your business.  

• Review Who Needs MFA

Your MFA coverage also needs to be altered as roles or risks change. Check access rights after a few months.  

• Prepare for Lost Devices

Prepare a backup system for the employees’ lost phones or tokens. Provide a reset ability and employ backup codes. 

Test Your System Regularly 

After MFA is installed, you should test regularly. Ensure it runs freely and secures important systems. Regular testing should include fake phishing attacks as well as scenarios of losing devices. In addition to this, feedback on ease of use by users is also needed. Cyber security firms stress that security can only achieve results when it is followed by people. Ensure that your MFA is not too difficult such that the users seek to evade it.  

Solving Common MFA Challenges 

Implementing MFA can come with a few challenges. Cyber security firms suggest the following on how to manage them: 

Employee Pushback 

MFA can be annoying to some staff. State why it is used. Be supportive, emphasize the fact that it safeguards everyone.  

Compatibility Problems 

The MFA might not be used on older systems. Select tools supporting broad integration or put IT resources into providing custom capabilities. 

Budget Limits 

Prices may be an issue. Begin with cost-free alternatives such as Google Authenticator. You can scale it up as you grow bigger. 

Device Problems 

Not all employees will have the correct phone or a token. Employ cloud applications such as Authy that can be used on numerous devices. 

Lost MFA Tools 

Establish rules on misplaced phones or security keys. Maintain ease of access by implementing fast processes for resetting and backup logins. 

Don’t Wait—Secure Your Business Now with EB Solution 

Cyber security firms strongly suggest that one of the smartest security steps that your business can take is Multi-Factor Authentication. It’s a low-cost, effective, and easy-to-implement security upgrade. You can protect your critical tools by starting small. Select an MFA app to suit your team. Educate your employees and remember to update the system. Here at EB Solution, we are happy to help with any of your IT management, AI, and cybersecurity needs.  

Call us today to schedule your consultation!