MFA: An SME's Gift

SME businesses are prime targets for cybercriminals seeking to exploit weak security practices. However, there is a powerful yet straightforward way for SMEs to take control of their security efforts: MFA - or Multi Factor Authentication.

Also known as dual authentication or 2FA, MFA is one of the most valuable tools in an SMEs security toolkit. Here's why we see MFA as a gift to the SME community when it comes to staying secure.

MFA Explainer

So what is dual authentication? It's a security process that requires users provide two or more independent credentials to verify who they are. Traditionally, logging into a system involves something you know (like a password). With MFA, users must also provide something they have (like a one-time code on their phone) or something they are (like a fingerprint or face scan). This approach significantly reduces the chances of a hacker gaining access to sensitive accounts or systems, even if they’ve stolen or guessed a user’s password.

MFA adds another layer beyond passwords. For example, a user will enter a password and then receive an SMS prompt, or an email with a code. They only access the resource once the code is entered. This both stops unauthorised access via password, and also alerts the user that someone else is trying to access data using their credentials.

Why do SMEs need strong security?

We hear a lot from SMEs that they don't think they have anything worth stealing, and so won't be a target of cybercriminals. We know from experience that this is a misconception, and that in reality, SMEs are considered low-hanging fruit. Smaller businesses don't have the resources to build enterprise-grade defences, and so criminals target them for phishing attacks, data breaches, and ransomware far more often than larger businesses.

We emphasise the opinion that while the big leaks make the headlines, SMEs can suffer just as much from successful attacks. Downtime, reputational damage, and legal repercussions can take small businesses down. This is why we advocate for simple, cost-effective measures like MFA.

How MFA protects your business

Passwords alone are notoriously easy to compromise, especially if they’re weak or reused. Even strong passwords can be stolen through phishing, malware, or data breaches. MFA ensures that a stolen password isn’t enough to access critical systems or data.

Contrary to popular belief, MFA solutions are straightforward to set up. Many cloud services, email platforms, and VPNs already include built-in MFA options. Your managed IT services provider can typically enable these features with minimal fuss.

MFA is often also free, and included with most services you use for free.

In many industries, showcasing strong security practices can give you an edge. Clients are more likely to trust businesses that follow best practices recommended by IT security experts. Demonstrating that you use MFA helps reassure customers and partners that you take protecting their data seriously.

Common MFA methods

There are basically 4 ways to deploy MFA. The one you'll have encountered with consumer based apps is text or email based codes, where a one-time code is sent via text message.

Next is authenticator apps, like Microsoft Authenticator, which generate codes that last around 30 seconds. This method is more secure than SMS as is is not liable to interception.

Next, there are hardware tokens, which are physical devices which generate and display a code. Unless this is stolen, it is impossible to intercept.

Finally, there are biometrics, like fingerprints, facial recognition, and voice identification.

While no single security measure can completely eliminate cyber threats, MFA is a powerful tool that can significantly reduce the likelihood of account compromises and data breaches. Best of all, implementing it is straightforward and cost-effective. By embracing MFA—often referred to as dual authentication—SMEs can dramatically improve their security posture, protect sensitive data, and maintain the trust of their customers and partners.

So, is MFA a gift when it comes to securing SMEs? Absolutely. With minimal cost and effort, you gain a substantial layer of protection against a wide range of cyber threats. Don’t wait until a data breach forces your hand—consult IT security experts and integrate MFA into your security plan today. Your peace of mind (and your bottom line) will thank you for it.