Single-factor authentication, such as inputting a username and password to sign in to an account, is an outdated and insecure method of authenticating a user. Passwords can be and often are hacked and misused. Most modern companies require multi-factor authentication (MFA) to access user or business accounts for increased security. MFA software requires end users to authenticate their identity in two or more ways before granting access.
Multi-factor authentication (MFA) software helps companies improve their security
It’s essential to verify that the person requesting access to company applications, accounts, sensitive information, or other business assets is who they say they are. But what is the proof that the user is who they claim to be? This can only be achieved by authenticating their identity.
Most users are familiar with a username and password prompt, but many companies use MFA software, which requires a second form of authentication. Authentication factors can include one-time passwords (OTPs) sent to a mobile device, email, or phone call, software or hardware tokens, biometric factors, and risk-based or contextual authentication based on known information about the user, such as their usual IP address or habits.
MFA software also helps companies streamline their end user’s login processes. Once set up, a secondary authentication method can be as simple as tapping a code on a mobile device or unlocking an account using a biometric factor.
Using MFA helps companies meet regulatory compliance requirements. For example, the SOC 2, SOX, and PCI-DSS frameworks require companies to protect their information from unauthorized access. MFA can help companies achieve that.
How does MFA software benefit modern businesses?
- Provides increased security
- Streamlines login processes
- Helps meet regulatory compliance requirements
Finding the right solution that fits particular business needs can be challenging. On G2, software buyers have ranked MFA software for its value for money, based on Return on Investment (ROI) and User Adoption.
Salesforce Authenticator ranked first by ROI
ROI is one of the most critical factors in software purchases for executives and managers. When businesses invest money and time into a software solution, they want to know they are getting their money’s worth. They want to see value from their investment as soon as possible. Based on user reviews of MFA software products, G2 gathers information about the time it takes for a company to see the ROI from their MFA solution purchase.
Out of 188 MFA software products listed on G2, here are the top six products with the quickest ROI periods that are better than the category average of 15 months:
With Salesforce Authenticator, software buyers can get their money’s worth in three months. Yubico, Google Authenticator, AuthPoint Multi-Factor Authentication, LastPass, and RingCaptcha also have better than the overall category average ROI compared to the average ROI period of 15 months.
PortalGuard ranked first by User Adoption
User adoption is a critical part of a successful software product implementation. If end users do not use the software, what is the point of paying for it? For products with low user adoption, perhaps it is due to a company’s poor implementation, or maybe the software itself is cumbersome that people just give up. Knowing how well end users adopt a software product can be a marker of how successful this tool will be if implemented in your organization.
With that in mind, here are the top 12 MFA products with the highest User Adoption rating:
Per G2 reviewers of PortalGuard, 93% of their users have adopted the software. OneLogin, SecureAuth Identity Platform, GateKeeper Proximity Authentication, Google Authenticator, Duo Security, Auth0, Ping Identity, Yubico, RingCaptcha, and Microsoft Authenticator have higher user adoption percentages than the MFA category’s overall average of 74%. Per G2 reviewers, these products help attain maximum utilization without overpaying for licenses that go unused.
Companies must not overlook other metrics
When making a software purchase decision, businesses also need to look at other metrics to get maximum value since each company’s needs are different. Additional data such as how the software features are rated, how long is the implementation period, etc., are also necessary for evaluation. With that said, buyers are recommended to prioritize software that is affordable, highly utilized, and has a short ROI period.
Want to learn more about Multi-Factor Authentication (MFA) Software? Explore Multi-Factor Authentication (MFA) products.
Merry Marwig, CIPP/US
Merry Marwig is a senior research analyst at G2 focused on the privacy and data security software markets. Using G2’s dynamic research based on unbiased user reviews, Merry helps companies best understand what privacy and security products and services are available to protect their core businesses, their data, their people, and ultimately their customers, brand, and reputation. Merry's coverage areas include: data privacy platforms, data subject access requests (DSAR), identity verification, identity and access management, multi-factor authentication, risk-based authentication, confidentiality software, data security, email security, and more.
