Passwords are quickly becoming a thing of the past–but they’re not quite gone yet. As we dig into the future of passwords and multi-factor authentication, be advised that having proper password rules and processes in place within your organization is still vital.
Shared passwords, password mismanagement, and weak passwords pose a risk to not only individual accounts but your organization as a whole.
Need help securing passwords within your organization? Clarity Technology Group can help through personalized and comprehensive cybersecurity plans focusing on password hygiene.
Why is Password Use Changing?
- Employee Experience–Password authentication was initially designed for employees, not for customers or clients. Now, how enterprises interact with their customers and clients is changing. Being able to authenticate users to enable efficient and effective interaction with an organization is vital to business success now and in the future. Today, many organizations are focusing on the user experience around passwords. More innovative options, such as fingerprint readers and facial recognition, offer customers and clients a seamless customer experience. Organizations are learning that passwords are becoming a critical factor in poor customer retention rates.
- Cost–From setup to reset and decommission, password management costs companies millions of dollars per year in many cases. Breaches caused by weak passwords can cost organizations an incredible amount of money and impact millions of individuals.
- Cybersecurity–On the subject of cost, cybersecurity is the main reason we are seeing password-use shifting. Weak password management is central to the entire criminal ecosystem. Passwords are difficult to secure, and most cyber breaches stem from weak or stolen passwords.
What’s Next for Passwords?
Digital trust is a term inspiring a shift in how enterprises use passwords. How can organizations reduce password risk by moving to more innovative options?
The World Economic Forum Platform for Cybersecurity supports the transition to a world without passwords. Organizations are encouraged to follow suit. While futuristic options such as fingerprints and facial recognition promise to replace passwords entirely at some point in the future, the need for increased authentication security is much broader than passwords alone.
Accurate and reliable authentication methods are an essential foundation of digital trust.
Build Digital Trust with Clarity
With managed IT services and a focus on preventative cybersecurity, at Clarity Technology Group, we are passionate about helping organizations build digital trust with their customer base. We focus on the following:
- Building cybersecurity and privacy programs customized to your business and industry.
- Helping your organization adopt data governance and management strategies.
- Implementing emerging and existing technologies that your organization does not already have in place to help you create a digital transformation program aligned with digital trust. That means improving existing services and processes.
From cloud services, backup and disaster recovery, phone services, and web development, we are your comprehensive IT service provider. To learn more about whether our services are a fit for your business, schedule a free assessment here.