The Cost Efficiency of Passwordless Security

The Passwordless Advantage

In an age where digital security is paramount, investing in efficient and cost-effective systems is vital. Yet, traditional security mechanisms often come with hefty price tags, both in terms of money and resources. Transitioning to a passwordless system is not just a technical upgrade; it’s a cost effective choice for organizations looking to streamline operations without compromising security.

How Organizations Can Save By Ditching Passwords

Some of the key areas going passwordless helps cut costs include:

Help Desk Savings

Password-related issues are notorious for consuming help desk resources. With each password reset ticket costing approximately $70, the accumulative expense for organizations can be monumental. Opting for passwordless authentication mitigates the constant need for resents and account unlock assistance, providing immediate relief to help desks and reducing operational expenses substantially.

Cutting Costs with Streamlined MFA

Multi-Factor Authentication (MFA) involves multiple steps to verify user identity. Removing passwords from this equation streamlines the authentication process while eliminating credential risk – making it quicker, safer and more user friendly.

Breach Reduction Savings

The financial implications of data breaches are chilling, with the global average cost per incident soaring to $4.35 million in 2022. In the US, this figure more than doubles, averaging at a staggering $9.44 million. Passwordless systems, utilizing mechanisms like digital certificates, significantly lowers the risk of breaches offering organizations not just enhanced security, but also considerable savings.

Crafting a Fortress: Combining Passwordless with NAC & Zero Trust

Embracing passwordless systems as part of an extensive, layered security strategy maximizes their effectiveness. By integrating digital certificates, network access control (NAC), zero trust policies, and least privilege access, organizations can establish a fortified, secure digital environment.

Digital Certificates: As foundational elements of passwordless systems, digital certificates authenticate users efficiently and securely without needing passwords.

NAC Implementation: With NAC, access is granted only to authenticated and compliant devices, adding an additional layer of network security.

Zero Trust Approach: Implementing a zero trust architecture, which necessitates constant verification for network resource access, reinforces security within organizations.

Least Privilege Access: Employing the principle of least privilege minimizes user permissions to the bare minimum necessary to complete their role or tasks, in turn reducing the risk of internal threats and external breaches alike.

Final Thoughts: Maximizing Savings with Passwordless Security

Going passwordless isn’t just a technology upgrade. It’s a strategic move towards a financially wise and secure operational future. When aspiring for a resilient defense and cost efficiency, passwordless authentication serves as an integral part of a well-rounded defense, allowing organizations to achieve significant savings and unassailable security.