Large manufacturers from the United States, Europe and Canada have all implemented some sort of internal networks to store sensitive information. Such information found on company servers may include employee information, business plans, blueprints and financial account information. Considering that the account management of large databases can be overburdened by a large number employees, there lies an increase of security threats.
According to the 2017 DBIR report by Verizon, manufacturing companies are the largest risk group when it comes to hacking. A big reason why hackers are attracted to manufacturers is that there are high-priced business secrets that could be sold to competitors. Getting a hold of poorly secured financial information can also be used to steal money from bank accounts. It is estimated that a typical security breach may cost a company an average of $450,000.
Most companies are still using traditional account management systems where users are in charge of their passwords. The issue is that some users are not very responsible with their internet usage or password handling, leading to some low hanging fruit for database crackers.
Consider the costs involved in a large company hiring a customer service team to deal with password or general account issues. If login management is at least partially taken away from the user, there would be a decreased risk of breaches and the convenience of not having to remember passwords. This is the idea behind Single Sign On and multifactor authentication software.
With SSO technology, a user may access multiple websites with just one set of credentials which is often merged into one account. This centralizes account management within one database so that there are not multiple entry points to leak a database. Implementations of Single Sign On technology may be on local area networks or through remote internet login pages.
SSO is also paired with MFA to add that necessary layer of security. With MFA, users will basically need multiple identification methods to enter the account. It is not uncommon to combine a verification with email, SMS and a social media account to prove one’s identity. It is not likely that a hacker will have access to all of these things so it makes security quite solid. SSO completes a multifactor authentication system by making passwords irrelevant and adds convenience.
More About OneLogin
The focus of OneLogin is to produce cloud-based authentication methods for large corporations. They have made innovations in increasing productivity in the IT sector by making low-maintenance authentication solutions. Their software is packaged with over 70 SaaS companies and 300 application vendors. They also work closely with projects like Workplace by Facebook and Namely.
Their headquarters has been based in San Francisco since 2009, meaning that they are in the middle of the action when it comes to software development. The owners of OneLogin had previously launched Zendisk so that had a lot of knowledge of the current IT market. In addition to their MFA or Single Sign On solutions, they also work on mobile authenticators, web access management software and cloud directories.