Passwords Are Not Free! It’s Time To Go Passwordless.

Irrespective of all their flaws and drawbacks, passwords have been around as a primal form of online authentication for several decades. They’ve become an integral part of every employee’s life since the beginning of the pandemic and the emergence of the “Work from home” culture.?Accessing different applications for the work may require different authentication mechanisms depending on the complexity of the company's IT system.

According to Forrester Research, the average help desk labour cost for a single password reset is upwards of $70! Another study conducted by Deloitte within their company revealed that around $2700 is being spent on the online security of each full-time professional every year! These statistics clearly show that a humongous proportion of company revenue is being spent on cybersecurity. The COVID-19 pandemic and work-from-home scenarios have made these figures scarier. According to IBM’s Cost Of Data Breach Report 2021, companies that have 81-100% remote employees face an average loss of $5.54 million per breach whereas companies with 10% work-from-home employees face an average loss of $3 million per breach.

Being in charge of the technical team, every single password reset, along with the expenses becomes the responsibility of the Chief Technical Officer (CTO) of the enterprise. Not only that, but the CTO is also liable if the company’s sensitive information gets leaked over a password breach. This is why IT departments at various corporates deal with password resets by putting in extra time and resources as a single breach can put their job security and reputation at stake.?

Removing passwords from the authentication equation will not only take a huge burden off the IT department but ensure that they can focus on larger corporate technical issues that require their attention and contribute towards the technical upliftment of the company without any hindrances.

The Solution Is To Go Passwordless

It’s time for enterprises to completely ditch passwords and move towards a more secure and viable solution - Passwordless Authentication protocols. Passwordless paves way for enhanced security and minimises the threats of cyber threats and phishing attacks. FIDO Alliance, backed by tech giants like Google, Apple and Microsoft has come up with a unique digital credential (a.k.a Passkeys) that allows frictionless login protocol using biometric identity instead of passwords.

SoundAuth is a new-age authentication product that helps companies effortlessly become a part of the passwordless bandwagon. SoundAuth ensures complete user security and helps companies stand out among their competitors by catering to the diverse requirements of their user base.?

Read the complete blog here: Passwords are not free! It's time to go Passwordless.

To learn more about SoundAuth and how your company can save tons of through the easy integration of Passkeys, reach out to us at [email protected]