Security researchers are sounding the alarm after hackers were caught exploiting a newly discovered vulnerability in a popular file transfer tool used by thousands of organizations to launch a new wave of mass data exfiltration attacks.

The vulnerability affects the MOVEit Transfer managed file transfer (MFT) software developed by Ipswitch, a subsidiary of U.S.-based Progress Software, which allows organizations to share large files and data sets over the internet. Progress confirmed on Wednesday that it had discovered a vulnerability in MOVEit Transfer that “could lead to escalated privileges and potential unauthorized access to the environment,” and urged users to disable internet traffic to their MOVEit Transfer environment. 

Patches are available and Progress is urging all customers to apply it urgently.

U.S. cybersecurity agency CISA is also urging U.S. organizations to follow Progress’ mitigation steps, apply the necessary updates, and hunt for any malicious activity.

Corporate file-transfer tools have become an increasingly attractive target for hackers, as finding a vulnerability in a popular enterprise system can allow the theft of data from multiple victims.

Jocelyn VerVelde, a spokesperson for Progress via an outside public relations agency, declined to say how many organizations use the affected file transfer tool, though the company’s website states that the software is used by “thousands of organizations around the world.” Shodan, ​​a search engine for publicly exposed devices and databases, reveals more than 2,500 MOVEit Transfer servers discoverable on the internet, most of which are located in the United States, as well as the U.K., Germany, the Netherlands and Canada. 

The vulnerability also impacts customers who rely on the MOVEit Transfer cloud platform, according to security researcher Kevin Beaumont. At least one exposed instance is connected to the U.S. Department of Homeland Security and several “big banks” are also believed to be MOVEIt customers also be affected, according to Beaumont.

Several security companies say they have already observed evidence of exploitation.

Mandiant said it is investigating “several intrusions” related to the exploitation of the MOVEit vulnerability. Mandiant chief technology officer Charles Carmakal confirmed that Mandiant had “seen evidence of data exfiltration at multiple victims.”

Cybersecurity startup Huntress said in a blog post that one of its customers has seen “a full attack chain and all the matching indicators of compromise.”

Security research firm Rapid7, meanwhile, confirmed it had observed signs of exploitation and data theft from “at least four separate incidents.” Caitlin Condon, senior manager of security research at Rapid7, said that the company has seen evidence that attackers may have begun automating exploitation.

While it’s unclear exactly when exploitation began, threat intelligence startup GreyNoise said it has observed scanning activity as early as March 3 and urges users to review systems for any indicators of unauthorized access that may have occurred within the past 90 days.

It’s not known who is yet responsible for the mass exploitation of MOVEit servers.

Rapid7’s Condon told TechCrunch that the attacker’s behavior appears to be “opportunistic rather than targeted,” adding that this “could be the work of a single threat actor throwing one exploit indiscriminately at exposed targets.”

It’s the latest effort by hackers and extortion groups to target enterprise file transfer systems in recent years.

In January, the Russia-linked Clop ransomware gang claimed responsibility for the mass exploitation of a vulnerability in Fortra’s GoAnywhere managed file transfer software. More than 130 organizations using GoAnywhere were targeted, including Florida-based healthcare company NationBenefits, virtual therapy provider Brightline, and the City of Toronto.

Clop was also behind another widespread attack on another popular file transfer tool in 2021. The gang breached Accellion’s file-sharing tool to launch attacks against a number of organizations, including Morgan Stanley, the University of California, grocery giant Kroger and law firm Jones Day.

In our fast-paced world, making sure your employees are up-to-date with the latest professional skills is key. This is where this employee training software comes in. 

Employee training tracking software helps you easily keep an eye on your employees’ training progress. You can assign and track training modules, making sure everyone gets the chances they need to develop professionally. 

Benefits of employee training tracking software 

Plus, it puts all the training info in one place, so it’s easy to see how everyone’s doing and find areas for improvement. 

There are a ton of software options to choose from, so we’ve done the heavy lifting for you. We’ll go over the top training apps, what key features to look for and how they compare to one another. 

Key features to look for in software for tracking employee training 

When choosing software for training new employees, there are a few key features you should look out for. 

Easy-to-use and customizable

It’s important for the software to be user-friendly and customizable to fit your specific needs. This means you won’t waste time struggling to figure out how to use it, and you can personalize it to match your business requirements.

Tracks participants’ compliance, progress, and completion

This feature allows you to keep tabs on who’s completed their training, who’s making progress, and who may be falling behind. It helps make sure that everyone’s meeting the necessary requirements and staying on track with their development.

Having a centralized database 

A centralized database means all training data like new hire packets and training materials are stored in one place, making it convenient to access and analyze. It helps you keep track of who’s completed which courses and identify any gaps in training.

Generates reports

Reports are valuable tools that provide insights into the overall training progress. They help you assess the effectiveness of your training programs, identify areas for improvement, and make data-driven decisions. 

Reports also help you measure the impact of your new employee training plan.

Integrations with other systems 

This can include integrating with your HR or payroll software, or employee scheduling tool making it seamless to manage employee records and track training alongside your other business processes.

Homebase integrates with some of the top payroll providers, including Paychex, Wells Fargo and Rippling. 

Push notifications and direct communication

Being able to send push notifications and communicate directly with employees is a handy feature. It allows you to remind them about upcoming training sessions, provide important updates, or answer any questions they may have. 

It also promotes effective team communication and keeps everyone on the same page.

Manages training records

Managing training records is essential for maintaining accurate business documentation. It makes sure that you have a clear record of who has gone through training, what courses they’ve completed, and any certifications they’ve earned. 

This feature helps with HR and compliance, audits, and tracking individual progress.

Cost-friendly and fits your budget

Affordability is an important consideration, especially for small businesses. It’s crucial to choose software that aligns with your budget while still providing the features you need most. 

This allows you to invest in employee training without straining your financial resources.

A breakdown of the top 10 employee training tracking software apps in 2023

1. Best all-in-one solution: Homebase

Homebase is our top all-in-one solution for tracking employee training during hiring and onboarding. It features a user-friendly interface, comprehensive time tracking features, and powerful communication tools. 

It generates reports, manages training records, and allows for data export. Though it may have limitations in customization and scalability, its several advantages make it the top choice for small businesses seeking a powerful employee training tracking solution.

Key Features of Homebase:

1. Intuitive Interface: Homebase offers an easy-to-use interface, making it simple for you to navigate and use the software efficiently.
2. Comprehensive Tracking: The software allows you to track employee progress, compliance, and completion of training modules. This feature allows you to monitor and manage training effectively.
3. Communication Tools: Homebase provides direct communication with employees through push notifications, allowing for quick updates, reminders, and addressing any queries. It promotes effective communication and keeps everyone informed.
4. Report Generation: With Homebase, you can generate reports that provide valuable insights into training progress and effectiveness. These reports help you make data-driven decisions and can improve training programs.
5. Training Records Management: Homebase offers efficient management of training records, allowing you to keep track of completed training, certifications earned, and other important details. It keeps accurate documentation for HR and compliance purposes.
6. Export Functionality: Homebase allows you to export training data, which can be useful for deeper analysis, integration with other systems, or sharing with stakeholders.

Pros and Cons of Homebase:

Pros:

• User-friendly interface makes it easy to navigate and use the software.
• Comprehensive tracking features help monitor employee progress and compliance.
• Direct communication tools enable effective communication with employees.
• Report generation provides valuable insights for improving training programs.
• Efficient management of training records allows for accurate documentation.
• Export functionality allows for data analysis and integration with other tools.

Cons:

• Homebase can lack some advanced customization options.
• It might not offer extensive integration capabilities with certain third-party applications.
• Limited scalability for larger organizations with complex training needs.

2. Best solution for tracking time spent on training sessions: Absorb

Absorb is a learning management system (LMS) that aims to inspire learning and elevate training programs.

H4: Key Features of Absorb 

1. Accurate Time Tracking: Absorb excels in tracking the time spent on training sessions with precision. It allows employees to log their training hours, ensuring accurate recording of time dedicated to learning.
2. Session Management: Absorb offers robust session management capabilities, allowing administrators to create, schedule, and manage training sessions effortlessly. This feature allows for organized and efficient training delivery.
3. Reporting and Analytics: Absorb provides detailed reports and analytics on training session time. This allows administrators to analyze training time data, identify trends, and make informed decisions to optimize training programs.
4. Integration Capabilities: Absorb can integrate with other systems, such as HR or payroll software. This seamless integration streamlines data management, ensuring accurate recording of training time alongside other essential business processes.

Pros and Cons of Absorb:

Pros:

• Accurate time tracking feature ensures precise recording of training session hours.
• Robust session management capabilities simplify the creation and management of training sessions.
• Detailed reporting and analytics enable data-driven decision-making to enhance training programs.
• Integration capabilities allow for seamless data integration with other systems.

Cons:

• Absorb may have a steeper learning curve for users unfamiliar with similar software.
• It may have a higher cost compared to some other training tracking solutions.
• Limited customization options might restrict certain specific requirements.

3. Best for running performance assessments: Litmos

SAP Litmos is an online corporate training platform that automates training-related tasks, such as course creation, assignment, tracking, and reporting, and overall aims to make learning management easier.

1. Performance Assessment Tools: Litmos offers comprehensive performance assessment tools that enable organizations to evaluate employee performance effectively. It provides various assessment methods, such as quizzes, surveys, and evaluations, allowing for a thorough evaluation process.
2. Customizable Assessments: The software allows organizations to create and customize assessments tailored to their specific needs. This makes sure performance assessments align with the organization’s objectives and requirements.
3. Performance Tracking and Reporting: Litmos provides performance tracking and reporting capabilities, allowing administrators to monitor and analyze employee performance. It generates detailed reports and analytics, enabling data-driven decision-making to identify strengths, weaknesses, and areas for improvement.
4. Integration with Learning Management System: Litmos integrates with learning management systems, enabling a cohesive learning and assessment experience. This integration simplifies the assessment process by connecting performance data with training data.

Pros and Cons of Litmos:

Pros:

• Comprehensive performance assessment tools enable thorough evaluation of employee performance.
• Customizable assessments allow organizations to create assessments tailored to their specific needs.
• Performance tracking and reporting capabilities provide valuable insights for data-driven decision-making.
• Integration with learning management systems ensures a seamless learning and assessment experience.

Cons:

• Litmos may have a higher cost compared to some other performance assessment solutions.
• The extensive customization options may require some technical expertise or training.
• Limited scalability for larger organizations with complex assessment needs.

4. Best for tracking course completion: Tovuti 

Tovuti is an all-in-one Learning Management System (LMS) that enables you to create, deliver, and track the effectiveness of your digital training programs. It allows you to monitor trainee progress, activity, and course completion rates, while offering customizable certifications.

Tovuti also provides KPI dashboards, custom reports, and the ability to export data to Excel. With automated email reminders for certification renewals, Tovuti streamlines training management effortlessly.

Key features of Tovuti

• Create and deliver engaging digital training programs easily.
• Track trainee progress, activity, and course completion rates effortlessly.
• Utilize KPI dashboards and generate custom reports for insights.
• Sort, filter, group, and auto-calculate data for analysis.
• Export data to Excel for further manipulation.
• Customize certifications to motivate and recognize trainees.
• Manage certification issuance and expiration dates efficiently.
• Automate email reminders for certification renewal.

Pros and Cons of Tovuti

Tovuti Pros:

• Comprehensive all-in-one LMS solution.
• User-friendly interface for easy program creation and delivery.
• Robust tracking and reporting capabilities for program assessment.
• Customizable certifications enhance trainee engagement and recognition.
• Flexible data management and export options.
• Streamlined certification renewal process with automated email reminders.

Tovuti Cons:

• Advanced customization may require technical expertise.
• Steep learning curve for new users.
• Interface could be more intuitive and user-friendly.
• Varying pricing plans, higher-tier plans may be costly for small organizations.

4. Best for personalizing training completion certificates: LearnUpon 

LearnUpon is a Learning Management System (LMS) designed to simplify and centralize training management. It offers features for tracking, delivering, and measuring training.

With LearnUpon, you can easily keep track of important training data, including user progress, exam results, employee survey responses, and training histories. This data can be converted into reports that are ready for export.

Additionally, LearnUpon allows you to provide personalized training completion certificates to learners. You can also schedule automated alerts to remind them when it’s time to re-certify.

Key Features of LearnUpon:

• Centralized training management system
• Tracking and measurement of training data
• User progress tracking
• Exam result tracking
• Employee survey response tracking
• Training history tracking
• Export-ready report generation
• Personalized training completion certificates
• Automated re-certification reminders

Pros of LearnUpon:

• Simplifies and centralizes training management
• Comprehensive tracking and measurement of training data
• Customizable training completion certificates
• Automated reminders for re-certification
• User-friendly interface
• Offers a variety of training management features

Cons of LearnUpon:

• Learning curve for first-time users
• Customization options may require technical expertise
• Pricing plans may vary, higher-tier plans could be costly for smaller organizations
• Interface design could be improved for enhanced user experience

5. Best for tracking progress and performance: Trainual 

Trainual is a tool designed to simplify and expedite the process of aligning and onboarding growing teams by creating business playbooks.

Trainual enables you to monitor the progress of your learners on a subject level, as well as individually, and keep track of their latest activity. It provides valuable insights such as completion rates, test scores, number of attempts, and start and completion dates. These reports can be easily downloaded as spreadsheets and exported for further analysis.

Key Features of Trainual:

• Business playbook builder for team alignment and onboarding
• Progress tracking for subjects, individuals, and latest activity
• Insightful data reports on completion rates, test scores, attempts, and dates
• Downloadable and exportable reports in spreadsheet format

Pros of Trainual:

• Simplifies aligning and onboarding teams
• Effective tracking of learner progress and activity
• Valuable insights for assessing completion rates and test scores
• Easy downloading and exporting of data reports

Cons of Trainual:

• Learning curve for new users
• Customization options may require technical expertise
• Varying pricing plans, higher-tier plans could be costly for smaller businesses
• Interface design could be improved for enhanced user experience

6. Best for custom training reports: TalentLMS

TalentLMS is a user-friendly LMS platform designed to simplify training delivery with expert guidance and support.

With TalentLMS, you can create a customized portal to track the progress, completion, and time spent on training for individuals or groups. It provides the flexibility to filter data and generate diverse custom reports, including infographic summaries and individual learner levels.

The platform also offers the convenience of sending automatic notifications when a course is completed or a certificate has expired, ensuring timely communication.

Key Features of Talent LMS:

• Customizable training portal for tracking progress, completion, and time spent
• Filterable data for generating diverse custom reports
• Automated notifications for course completion and certificate expiration

Pros of TalentLMS:

• User-friendly platform for easy training delivery
• Customizable portal for personalized training tracking
• Diverse reporting options for gaining valuable insights
• Automated notifications for timely communication

Cons of TalentLMS:

• Some advanced customization options may require technical expertise
• Varying pricing plans, higher-tier plans could be costly for smaller organizations
• Interface design could be improved for enhanced user experience

In today’s fast-paced world, it’s crucial to make sure your employees have the latest professional skills. Among the top employee training tracking software apps in 2023, Homebase stands out as an all-in-one solution for small businesses, offering a user-friendly interface, comprehensive tracking features, communication tools, report generation, and training record management. 

Are you a small business owner that has been asked if their company is an LLC, and you don’t know what that means? Or maybe you are an entrepreneur in the initial phases of opening a new business, and your head is swimming with all the options ranging from a sole proprietorship to an LLC to a corporation.

Keep reading for everything you need to know about an LLC and whether it is the right option.

What is an LLC?

A Limited Liability Company (LLC) is a business structure that provides the owners with protections that are usually only available to corporations but keeps the simplicity of a sole proprietorship.

This entity also provides pass-through taxation as it is run through a separate entity that isn’t restricted to a specific number of shareholders and isn’t heavily regulated.

Related: How to Start a Limited Liability Company (LLC) | Entrepreneur

What are the benefits of an LLC?

There are benefits to every business structure. From a corporation, general partnerships and sole proprietorships each offer unique advantages.

The benefit of forming an LLC is that it takes the pros of each business structure and combines them into one.

How can an LLC provide asset protection?

One of the main advantages of an LLC is that it protects your personal assets.

For any business debt or lawsuits that your business may run into, the owner has no personal liability. This ensures that their personal assets cannot be taken as payment as they are completely separate from the company.

Related: LLC Basics – Entrepreneur.com

What tax options does an LLC have?

An LLC provides more tax options than other business models.

For tax purposes, they are either taxed as a sole proprietorship or a partnership, depending on the management structure and how many members are involved in the company.

Members report their share of the business income and expenses on their personal tax return and then pay personal income tax on the profit.

Members who also work in the business are then considered self-employed and must state this on their federal income tax return and then pay self-employment taxes on their share of the profits.

If the company doesn’t want to be taxed as a sole proprietorship or partnership, it can also choose to be taxed as an S-corporation (S-corp) or a C-corporation (C-corp).

A C-corp pays corporate tax, and the owners pay tax on their distributions. An S-corp is what is known as a pass-through entity which means it doesn’t pay corporate tax, but each owner does pay personal income tax on their share of the profits.

It is important to note that not all LLCs qualify for S-corp taxation as they must meet certain IRS (Internal Revenue Service) requirements.

A single-member LLC can also be designated as a disregarded entity. What this means is that it will be disregarded or ignored concerning federal income tax.

Related: The 5 Biggest Tax Differences Between an LLC and Corporation | Entrepreneur

Does an LLC provide flexibility?

As LLCs are not required by law to have annual shareholder meetings or even require a board of directors, they provide greater flexibility than other business models.

Rather, members of an LLC are free to organize the company as they see fit and be member-managed, as administrative requirements like most corporations don’t bind them.

Related: Choose Your Business Structure | Entrepreneur

Does an LLC designation make your business more credible?

When you structure your business as an LLC, you receive exclusive rights to use your business name as a business entity.

As most states don’t allow a business to use an existing business name, you can create a public record of your name, making it unavailable.

The LLC designation at the end of the company name can also lend credibility to a business.

Related: How to Structure a Single Member LLC | Entrepreneur

How are profits distributed in an LLC?

One main advantage of an LLC is that members can decide how the profits are divided.

Typically, corporations issue dividends, and partnerships usually split the profits among the partners, but owners of an LLC can choose how the profits are divided up.

Remember that the IRS has rules about the special allocation of profits, and you might have to show proof of profit sharing or legitimate economic need to prove it is not simply an attempt to avoid paying taxes.

Are there disadvantages of an LLC?

While an LLC has specific benefits, it also has some notable disadvantages.

The profits are subject to high LLC tax

The profits of an LLC are subject to social security and Medicare taxes. In some cases, owners of an LLC can even end up paying more taxes than a corporation does.

Also, both salaries and profits of an LLC are subject to self-employment taxes which currently equal approximately 15.3%. Whereas with a corporation, only the salaries are subject to taxation, not profits.

This disadvantage hits owners who take a salary of less than $97,500 the hardest.

Related: Pros and Cons of the LLC Model | Entrepreneur

An LLC has to immediately recognize its profits

Unlike a corporation, owners of an LLC have to immediately acknowledge their profits.

A C-corp doesn’t have to distribute its profits immediately to the shareholders. This means a C-corp isn’t always taxed on the company’s profits.

Since an LLC is not subject to double taxation, the company’s profits are then automatically included in the member’s actual income.

Related: Business Structure Basics | Setting Up | Entrepreneur

There are fewer fringe benefits available

Employees who receive fringe benefits such as group insurance, medical reimbursement, medical insurance and parking must treat these benefits as taxable income with an LLC. This is also true for employees who own over 2% of an S-corp.

On the other hand, employees of a C-corp who receive fringe benefits do not have to report these as taxable income on their income tax return.

How to set up an LLC

There are seven steps you need to take to start an LLC.

There are different state law requirements from state to state, so it is recommended to talk to a legal professional about the specific requirements where you live.

Choose a business name

The first step to starting an LLC is choosing your business name.

Not only do you need to choose a name that doesn’t already exist, but your state may also have certain requirements it needs to meet.

Related: How to Name a Business: 7 Helpful Tips | Entrepreneur

Choose a registered agent

The next step is to choose a registered agent. A registered agent receives official and legal documentation on behalf of the company. Once the registered agent receives these documents, they pass them on to the company.

The registered agent has to be at least 18 years old. You are allowed to choose yourself or an employee. The main requirement is the agent must have an address within the state during typical business hours.

Related: 4 Best LLC Services of 2023 | Entrepreneur Guide

Obtain a copy of your state’s LLC Articles of Organization Form

In most states, you will have to file a document called the Articles of Organization with the state agency that handles business filings to establish your LLC.

Each state has a specific form you will use; some also call it a Certificate of Formation.

Complete the LLC Articles of Organization Form

Every state has specific requirements for individuals trying to create an LLC. Some of the typical information you may need to provide includes:

• The business name.
• The principal address of the business.
• The business’s purpose.
• How the LLC will be managed.
• The registered agent’s contact information.
• The duration of the LLC.

Once you have this form filled out, at least one of the business owners will then need to sign it.

Related: Ten Steps to Organizing an LLC | Entrepreneur

File the Articles of Organization

Make sure to thoroughly check the Articles of Organization Form before you submit it.

You may also be required to pay a filing fee, which differs from state to state.

Once your form has been approved, the Secretary of State’s office will issue you a certificate to prove that your LLC is formally registered.

You can use this certificate to complete tasks such as setting up a business bank account and registering for a tax ID number.

Related: Choose Your Business Structure | Entrepreneur

Create an LLC Operating Agreement

Now that the state has approved you, it is time to create an Operating Agreement.

An Operating Agreement outlines all the details of the financial, legal and management rights that all members of the LLC are entitled to.

In particular, it includes how the profits will be distributed, how members can leave the LLC and who is required to contribute capital.

You can create your Operating Agreement, especially if you are a single-member LLC. Hiring an attorney may be a good option for more complicated situations, such as with multi-member LLCs.

Related: Why So Many LLC Operating Agreements Fail | Entrepreneur

Keep your LLC active

Now that your LLC has been created, you need to keep it active.

This means you must ensure you are keeping your business in good standing with your state. This can include the LLC filing an annual report that keeps your company’s info up-to-date and paying an annual fee for filing.

Related: business – The Many Benefits of Forming an LLC | Entrepreneur

Start an LLC today

With benefits ranging from business flexibility, different taxation options and personal asset protection, creating an LLC might be the next step your business needs to take.

By following the steps above and consulting an attorney in your area, you could soon run your own LLC and reap all its benefits.

Check out Entrepreneur’s other articles for more information about LLCs and other financial topics.