A Guide to ‘NO PASSWORDS’ Anywhere: Ultimate Cyber Defense

‘No Passwords’ or ‘Passwordlessness’ — A buzzword, a trending hashtag, and the title of every security webinar have been this, for a long time. A hot topic in every security enterprise and an ultimate security goal for every business is to go password-less in the emerging time.

And why not? There’s so much to it than meets the eye. Passwords are insecure and costly to maintain; several firms spend more than $1 million per year on password maintenance. They also expose your employees and company’s data to cybercriminals. Hackers may easily intercept or guess passwords, which account for more than 80% of data breaches. In fact, users reusing the same passwords for several accounts are accountable for two-thirds of these dangers.

Do you know? About 60% of global businesses will use passwordless solutions to authenticate users and devices by 2022. And 62% of companies believe passwordless will increase their security.

What’s The Big Risk?

The spread of the workforce due to the current pandemic situation has led to unprecedented changes for the usual security area. When on a company network, it was pretty clear who is in and who’s out during the on-premises and work from office scenario. Now things are more complex, with remote workers, cloud applications, and numerous devices and machines joining the network.

So, the big risk here is to authenticate users and machines within the business which is a completely new area by moving from network to people. The result? Putting a greater deal of threats on passwords. Imagine an employee losing password and asking the helpdesk to help them retrieve a new one, it gets tough to receive the help virtually through a one-time OTP sign-in and thereby putting the entire business at hacking risk.

Would you be interested to read: Why Microsoft is the Leader in Endpoint Detection?

What is the Solution to ‘No Passwords’?

  • Credential Management made easy: Credentials that are required to be managed separately by saving on each platform can now be managed at a single platform. Your IT team can streamline the task once and whoosh! The ever-increasing headache is gone!
  • Save Time: No more long wait hours to retrieve one credential in case an employee forgets it. A one-time platform helps everyone manage their own passwords in a single place.
  • No more Helpdesk Calls: With a single password management system, 40% of the helpdesk calls can disappear.

Need an Ultimate Defense? VPC is your Answer!

Most businesses in today’s era have migrated to the cloud to accommodate remote working efficiently. And when it comes to migrating towards cloud management, identity access management tools are not behind in the race. But guess what? These tools are more than vulnerable to be hunted by cloud- data breaches which can cost a hefty sum of $4.4 million to a business.

This is why a VPA becomes even more important rather than keeping your credentials on a shared cloud infrastructure. A VPA or a Virtual Private Cloud saves your data along with the credentials on the cloud from the risk of getting breached.

While deploying an authentication management system, selecting a VPA saves your business a lot of hassle. A VPC ensures that all cryptographic materials are stored in a FIPS-certified, cloud-based hardware security module which:

  • Enables you to no longer mingle your credentials with your company data on a mutual system.
  • Provides a closed-door to costlier cyberattacks that may have happened when credentials were on a shared cloud.

Passwordless access is more likely to become increasingly important for all businesses as the remote workforce grows and digital transformation accelerates. It is evident that there are numerous impediments in the way as of now. And, it can’t even be denied that companies may become disheartened by the complexity of their business use cases, overburdened by the time and resources required for multi-factor authentication, and anxious that their staff would not comply.

But, let’s not lose hope as there are even greater solutions on our way to better cyber security All of these barriers can now be broken down with a single solution. Businesses may no longer have to compromise between usability and security by installing a single credential management platform and safeguarding it in a virtual private cloud.

Factspan is a pure play analytics company. We partner with you to build an analytics center of excellence, uncovering insights and solutions from your data.