Fortifying Your Franchise on World Password Day

When is the last time you reviewed your passwords and your internal password policy? Probably not recently enough. Given all of the security breaches that have hit major companies lately, there couldn’t be a better time.

World Password Day is an opportunity to reflect on the simple, yet vital role passwords play in securing our digital lives. In the franchising world, where multiple access points and user levels multiply security risks, understanding and implementing strong password practices is essential.

Passwords are the gatekeepers to digital information. A breach can lead to significant financial and reputational damage. Given the complexities of the multi-location business, one breach at one location can impact the entire brand – the franchisor, all franchisees, customer data. The Verizon 2022 Data Breach Investigations Report found that 80% of breaches involving hacking incidents utilized lost or stolen credentials or brute force. This statistic underlines the crucial role that passwords play in cybersecurity.

A robust password policy is crucial for every business and individual, especially any franchise business. Here are key guidelines that we encourage everyone to implement:

Length and Complexity: Encourage passwords that are at least 12 characters long and include a mix of uppercase letters, lowercase letters, numbers, and symbols.

Avoid Common Passwords: Educate team members on the risks of using predictable passwords, such as “123456” or “password.”

Regular Updates: Set a policy for changing passwords every three months, without recycling old passwords.

Technology to Enhance Password Security:

Password Managers: These tools can generate, retrieve, and keep track of complex passwords without the need for manual input from users.

Two-Factor Authentication (2FA): This adds an extra verification step and significantly enhances security. For instance, a code sent to a user’s phone can be used in addition to a password to gain access.

Employee Training and Compliance: Ongoing education about cybersecurity risks and password security is key. Regular training sessions can help instill the importance of following security protocols, while routine audits ensure compliance and identify areas for improvement.

World Password Day is more than just a reminder to update your passwords. It’s a call to action for franchises to fortify their first line of defense against cyber threats. By establishing and maintaining strong password protocols, franchises can protect themselves from potential breaches.

Is your business protected by strong cybersecurity measures? Contact Tsource today to ensure your digital security practices are as robust as your business ambitions.[/vc_column_text][/vc_column][/vc_row]