The cannabis industry has undergone a tremendous amount of growth and maturation in recent years. Recreational cannabis is now fully legalized in 18 states, and 38 states have legalized it for medical use.
However, the lack of federal legalization makes for a fragmented industry where operators are forced to build their businesses state-by-state. Inconsistent laws at the state-level and restrictive regulations limit the ability of most smaller operators to scale. As a result, multi-state operators (MSOs) are starting to expand their footprint, leading to rapid consolidation across the industry.
Just last year we had two of the largest industry acquisitions on record. Global pharma company Jazz Pharmaceuticals agreed to buy GW Pharmaceuticals, one of the largest medical cannabinoid companies in the world, for $7.2 billion. Florida-based multistate operator (MSO) Trulieve Cannabis acquired Arizona-based Harvest Health & Recreation in a deal valued at $2.1 billion.
With consolidation expected to continue, the need for an enterprise resource planning (ERP) software is quickly becoming a question of “when,” not “if”, for many cannabis operators. How do you know when your business is ready to make that transition from seed-to-sale to a cannabis ERP solution?
At this point you might be thinking, “Wait, I already have seed-to-sale software. Isn’t that the same thing as an ERP?” If you take nothing else away from this blog, know this, seed to sale software is not the same as an ERP. While the terms are often used interchangeably, there are fundamental differences in their features and functionalities.
Seed-to-sale software, otherwise understood as cannabis tracking software, is typically used by small to medium-sized cannabis operators to track each individual plant as its grown, merchandised, and distributed throughout the cannabis supply chain. It is used by manufacturers, growers, dispensaries, and local governments to ensure product safety and maintain compliance.
Cannabis ERP systems offer much of the same functionality as seed-to-sale (it can also be used to track your plants). However, an ERP also helps you manage all of your critical business functions, from finance, to operations, to seed-to-sale, compliance, quality, and traceability – all within a single solution.
In the early days of legal cannabis, the primary concern for operators was compliance. While seed to sale software has proven to be capable in this regard, it is limited in its overall functionality, forcing operators to rely on multiple systems.
As a growth-minded company who has plans on expansion, you will inevitably reach a point when your seed-to-sale software, despite all its compliance and tracking benefits, starts to hinder your growth. You have to find ways to streamline your business.
A true cannabis ERP eliminates the need for multiple systems. It brings together seed-to-sale functionality with back-office features to run all facets of your business efficiently, from sales, inventory, payroll, reporting, compliance, and many other critical operations. Having a single source of information ensures superior data integrity across your organization, freeing you up to focus on the aspects of your company that really matter to you (not just compliance).
Regardless of what stage you're at in the business lifecycle, if you have plans on expanding, it’s important to keep the big picture in mind. Start thinking of your tracking software beyond a simple compliance tool, and start thinking how it can help you effectively manage every aspect of your business. Request a demo of 365 Cannabis today!
For cannabusinesses and grow companies, choosing between Microsoft Dynamic 365 Business Central vs Quickbooks for your operation can be a make or break for your overall success. While both softwares are able to manage the complexities that relate directly to cannabusinesses, knowing how both of them separately play a role is key to administering the ideal solution for your business. To properly gauge how each software operates as a cannabis financial software, here are some things to consider before choosing.
Owned by Intuit, Quickbooks has been around for a long time, with multiple versions available such as QuickBooks Online Plus, and QuickBooks Enterprise Solutions Platinum, Gold, and Silver. As you move to a more elite version, you get increased functionality in instances such as advanced reporting, payroll, inventory, and pricing.
Some strengths of Quickbooks include:
Overall, Quickbooks is mostly ideal for small companies and tends to lack the full range of functionality required by many vertically integrated or multi-state operators looking to scale. These weaknesses include:
One of the most glaring differences between Quickbooks vs Dynamics 365 Business Central is that the latter is a much more robust software that is part of a true ERP solution, making it significantly more comprehensive and suitable for growing cannabusinesses. Microsoft Dynamics 365 Business Central provides numerous benefits, which include aspects such as:
Some weaknesses that Microsoft Dynamics 365 faces include:
Some major aspects a cannabusiness should explore for their cannabis financial software include:
The battle between Microsoft Dynamic 365 Business Central vs Quickbooks is really comparing apples to baseballs. If your cannabusiness is looking to expand, either in size or across state or country lines, the choice is simple. Quickbooks can be a suitable option for small startups, but Microsoft Dynamics is superior for cannabis operators looking to scale.
At 365 Cannabis, our professional team and cannabis ERP software is committed to helping you grow your cannabusiness. We offer a comprehensive, vertically integrated ERP software that scales as you do. 365 Cannabis is built on Microsoft Dynamics 365 Business Central and customized to meet the needs of the cannabis industry.
Learn more about how we can bring an optimized solution to your business, or contact us directly for any questions regarding our products or services.
As the Cannabis industry continues to grow rapidly both domestically and internationally, the need for a cannabusiness to use a proper enterprise resource planning software, or ERP business management software, has become more crucial than ever. The growing popularity of the industry has come with plenty of ongoing regulation and traceability standards among the cultivation, production, and distribution of cannabis and cannabis infused products on a nationwide scale. To ensure that these critical components are met, and that all business facets are operated smoothly and efficiently, consider 2022 as the perfect time to upgrade to a new ERP business management system.
The inner workings of any cannabusiness can easily get thrown off by constantly changing laws and regulations, and keeping track of the whole operation during these changes only grows more difficult as a result. So what is Cannabis ERP? It’s the solution that combines industry compliance with a fully-integrated software system that scales as you do. But as any business should know, no software lasts forever, and 2022 is set to bring some spectacular upgrades over pre-existing ERP softwares for cannabis companies.
While an ERP software is sure to help any business increase overall efficiency, productivity, growth and cost savings, knowing how to identify an outdated ERP system can be a challenge. Here are some key indicators that your ERP software for cannabis may be in need of an upgrade:
As a result of the increasing significance of the cannabis industry, any scaling business should immediately consider upgrading a pre-existing system to stay up-to-date with any and all resource planning implementations. ERP business management
The 365 Cannabis ERP system is an optimized solution for bringing more green to your business, with functionality specifically tailored to the unique requirements of the cannabis industry. Our mission at 365 Cannabis is to provide a comprehensive software solution designed specifically for cannabis cultivators, producers, distributors and dispensaries that allows users to maximize efficiency, promote growth, and ensure compliance.
We’ve made it our promise to listen to the industry, and evolve our technologies with purpose. If you are in need of an upgraded ERP software system for cannabis, look no further than 365 Cannabis for a fully-integrated experience. For more information regarding our services, or for any questions or comments, contact us today.
For any cannabusiness, being faced with an outgrown ERP (enterprise resource planning) system can be stressful, especially without some sort of idea on which best seed to sale software is right to replace your current one. The significance of a proper seed to sale ERP system for a growing business cannot be overstated, and it’s crucial to know the ins and outs of these softwares to ensure a strong foundation for company goals, needs, and potential expansion.
With the rise of marijuana legalization spreading rapidly throughout the United States, many cannabis businesses are now on the hook to find the right technology to efficiently run any to all facets of their company, from sales, inventory, payroll, data, compliance, and many other critical elements. So what is a seed to sale software system? It’s a tracking process to record everything regarding your cannabis growing, processing, and selling operation. Cannabis ERP softwares provides an easy solution to combine seed-to-sale functionality with back-office features to run all of these facets efficiently. Businesses use these seed to sale ERP softwares to gain much needed insights into operational performance, identify areas of improvement, provide automation, and reach local and state regulations as they arrive.
There are many things to consider when looking into a new cannabis ERP system, from company specifics to general ease of use.
365 Cannabis provides comprehensive software solutions designed specifically for cannabis cultivators, producers, distributors and dispensaries that allows users to maximize efficiency, promote growth, and ensure compliance. We are committed to helping any company grow, by offering targeted cannabis business solutions optimized for the industry, including vertical integration software that scales as you do. With modules available for every cannabis operation, we can help you evolve with a purpose, by providing world-class software, support, and resources needed to run an efficient, compliant business in an unprecedented high-growth industry.
Learn more about our story to discover what makes us the #1 choice for cannabis and seed to sale ERP softwares. You can also contact us for any questions, or request a demo to see how we can provide your growing business with the best-in-class technology and service.
As the marijuana industry continuously grows as more states legalize the substance, cannabusinesses must ensure that production remains on track, profitability is still being achieved, and cash flow is managed effectively. To accomplish these important tasks, companies and businesses now require sophisticated ERP software for cannabis production and sales management.
As the marijuana industry matures, we’ve seen more and more capital being shelled out towards ensuring functional efficiency and long-lasting success, instead of development and research and creating a market share.
Our ERP software for cannabis production management will help companies improve their operations and save money while ensuring that they remain fully compliant across different legal jurisdictions.
Marijuana ERP software is an application that connects every area of a Cannabusiness in a consolidated common database.
It comprises multiple modules that deal with particular business requirements such as accounting, order management, sales, project management, manufacturing, human resources, inventory, and more.
The ERP solution weed software works as a comprehensive solution that merges vital seed-to-sale functionality along with desperately needed back-office traits to run all operations successfully.
This means ERP offers all the necessary tools and equipment needed to manage customers and financials, produce precise reports, track sales, and manage inventory from seeding to eventual sales.
For marijuana cultivators, distributors and processors, ERP allows operators to obtain significant changes, enhance inventory management, optimize the supply chain and seek areas to minimize waste.
Here’s how the software can help your Cannabusiness:
Often, regulatory compliance can impede sustainability efforts. However, if marijuana operators have access to advanced technologies to monitor supply chain operations and predict usage, they can minimize waste.
With enhanced visibility, cannabis operators can determine areas that require betterment by auditing the supply chain from first to last. Issues will likely turn up in sections of over-buying or over-production of materials due to improper forecasting. Fortunately, with the help of cannabis ERP software, you will not have to make critical business decisions based on instincts.
ERP software allows operators to track materials as well as demand; plus, it helps them practice lean production (also called lean manufacturing). Using the system data, cannabis operators try to eliminate:
ERP allows marijuana operators to emphasize lean manufacturing, optimize efficiencies, streamline quality, and minimize costs to reduce waste for sustainable operations.
With the help of cannabis ERP software, operators can even monitor individual stocks across various locations, including retail locations and warehouses. This helps them gain complete visibility into their supply chain process as they shift from wrapping to inventory, delivery, retail, and ultimately into the customer’s hands.
The effect of the marijuana ERP solution on the supply chain can be substantial, especially when trying to achieve a more viable operation.
ERP software can deduce demand automatically once orders fall in. It simplifies the supply chain process by making efficient job scheduling. This way, you’ll have complete visibility of the resources that are consumed.
With cannabis ERP software, you can have adequate means to supervise and control the supply and procurement of services and goods throughout the chain.
ERP looks out for all components under the supply-chain management, from managing production and inventory resources to handling execution and transportation processes.
Cannabis ERP software allows “Bill of Material BOM” for all items. Once production begins, every record for labor resources and machines are made and updated timely. All activities are documented with ERP software to ensure proper supply-chain process, increase efficiencies, minimize carbon footprint, and eliminate errors.
Our cannabis ERP software has six modules, including financials, cultivation, processing, CRM, distribution, and retail. Browse our site to learn more today, and please contact us with any questions you may have.
While the cannabis industry is still pretty new, it's currently experiencing a rapid growth expansion, causing many cannabusinesses to realize they are operating on an outgrown ERP platform.
An enterprise resource planning (ERP) system is what makes your business run as smoothly as possible for both your customers and your staff. Everything from fulfilling orders, planning and registering plants, accessing customized data on your customers, and so much more is possible with a modern ERP system.
In light of this deluge of rapid growth within the industry, re-evaluating your cannabusiness’ ERP system is crucial. A simple system audit might reveal what’s causing those kinks in your workflows. To help you identify some telltale clues that your platform is aging, here are some of the most common signs that you have outgrown your ERP.
If your current seed-to-sale ERP still involves manual processes, then it’s time for an upgrade. One of the significant benefits of having an automated ERP is that it can streamline processes so your staff can focus on more critical business matters, instead of data entry and extraction.
Right now, a current ERP system is good for about 10 years. However, some businesses report using systems that are nearly 20-years-old! So many new technologies are available, from artificial intelligence (AI) to 3D printing. The possibilities are endless when you're able to integrate new technology with your ERP.
If you’re using several, different platforms to track, manage, and organize various metrics, then it’s time for an upgrade. Having a modern ERP for the cannabis industry means using only one platform to manage everything from seed-to-sale financials, forecasting and tracking plants, managing relationship-building with customers, and so much more.
One of the most concerning signs you have outgrown your ERP is not having immediate access to your inventory. If you end up overselling items, it not only causes backend confusion, but results in a poor customer experience as well.
With a modern ERP for the cannabis industry, you can be proactive during any possible inventory issues because you have access to all information in one system.
Staying in compliance is part of the cannabusiness territory. But, suppose your current ERP system doesn't help you track regulatory changes and updates, and reduces your ability to pull reports and audits effortlessly. In that case, you could be putting your business at serious risk for fines and penalties.
Upgraded ERP systems make reporting more manageable, but new technology can also handle more extensive data with ease, making the entire process much faster and completely hassle-free.
A cannabis software platform can help you with your day-to-day operations by providing an all-inclusive digital workflow that allows you to give a stellar seed-to-sale experience while staying compliant. According to the National Cannabis Industry Association, switching to modern ERP software can:
365 Cannabis is all-inclusive ERP software that cannabis experts built specifically for cultivators, producers, distributors, and dispensaries. You can custom build the software from six core modules to fit your cannabis business needs best. If you still think you can’t outgrow your systems, then we invite you to learn more about what switching to 365 Cannabis can do for your business and request a free demo today.
We have plenty of seed to sale software comparison tips to help you choose the best cannabis grow software for your business. Cannabis legalization across America has the industry booming. As of April 2021, 17 states allow recreational use for adults, and 36 have legal, medical programs. However, both sales types require extensive tracking to align with regulations and safety requirements.
Cannabis grow software is necessary to meet these demands. However, choosing the right program to fit your business needs will require some research, as each provider offers different features that don't necessarily fit every brand’s needs. To help you out, we discuss some important comparison tips to help you manage costs, make the right choice, and get an edge on the competition.
When reviewing programs, seed to sale software cost is essential, but don't let it be the deciding factor. The less expensive option isn't always the best. Cannabis software management covers every area of your business and is a vital part of improving production, quality, and safety. These aspects are crucial to boosting customer satisfaction and sales.
Another aspect to consider with the seed to sale software cost is the size of your operation. Many programs are tied to larger businesses, and these can be expensive and offer features smaller companies don't need and can't afford. Look for cannabis management software that scales services by size. Another consideration is to find programs that handle everything, including financial data. Options that can help you reduce reliance on other software, such as QuickBooks, can reduce how much time you spend on accounting. The more time you have to handle different tasks, the more time and devotion you can put into growing your business.
When reviewing programs, software cost is an integral part of the process—and depending on the size of your company, not all are cost-effective. A small brand with a few cannabis strains doesn't need the level of support that a multi-state cultivator requires.
There are a few ways to find what fits your business. As the cannabis industry grows, trade shows and events are popping up everywhere. Many are available online, allowing smaller-scale companies to gain the same knowledge previously afforded to large operations.
These can offer valuable information about what cannabis grow software other brands are using. It also provides the chance to talk to different providers and businesses about their experiences to make an informed decision about cannabis management software.
Another option is to read reviews online— just make sure to look for reviews from third parties that have the most transparency and may offer a better level of trust. Read several customer transparencies, including negative responses to learn as much as possible before making a decision.
What features should you look for with a seed to sale software? It depends on your business's needs. There are many aspects the right program can help you improve, such as:
Don't rely solely on seed to sale software costs when making your decision. Look for the program that fits your needs and budget.
Find everything you need to grow premium recreational and medical cannabis and hemp plants in one place with 365 Cannabis management software. Our cannabis grow software allows businesses to effectively forecast the cultivation details of each genus and cultivar, optimize performance for any size operation, and stay compliant with state regulations. Handle everything from space and labor planning to yield forecasting with a few clicks on your mobile device.
Starting out, you didn’t need a dedicated cannabis accounting software, you needed just enough to get by – seed-to-sale for compliance, a dozen spreadsheets for your processes, and Quickbooks to manage your money. Once up and running, you quickly realize this isn’t a long-term solution.
Replacing disparate systems every year or two can become a burden on your staff and wallet. Investing in a cannabis software that is an all-in-one solution will ultimately save you mass amounts of time and money.
To get started, here are 3 things to look for in a cannabis accounting software.
A cannabis accounting software should go far beyond basic transactions – it should provide granular financial tracking at every level.
One of the most important features to look for is the ability to track and assign costs. This would include rent, utilities, supplies, labor, and job hours, with the ability to apply these costs based on an individual plant, batch of plants, or an entire room.
With the right cannabis accounting software, these calculations should be completely automated and extremely flexible.
Transparent and detailed audit trails allow you to justify every expense.
Whether you’re a single-state operator with no intention of growth or already have a 10-year plan with multi-country on the docket, either way, you should always be prepared. With an enterprise-level cannabis accounting software solution, you’ll be future-proofed no matter the trajectory of your cannabis operation. Sinking costs into a solution that can’t cross borders greatly hinders your scalability and budget.
Although many systems will claim to have multilingual and multi-currency capabilities, it is crucial to determine how realistic and cost effective the solution will be.
Proprietary systems (ones built from the ground up) will likely have to custom build all the translations and currency capabilities out from scratch. This can be extremely expensive, not to mention can take years to complete. A cannabis ERP system built on a platform deployed around the world, like Microsoft Dynamics 365 Business Central, has language and currency option out of the box.
When shopping around for a new software vendor, be sure to ask what platform they’re built on. Better yet, see if they’re a true cannabis ERP.
Any time you’re transferring data from one system to another there is room for error. Using a disparate cannabis accounting software can be detrimental to your bottom line.
A fully integrated ERP solution brings all your processes and activities into one place. As you set up a new job in the system – assigning labor, materials, space, etc – the costs involved are already connected to your finance system.
Furthermore, a single solution immediately automates dozens of processes, reducing errors, saving time, and increasing productivity.
There are many benefits to using an ERP with a fully integrated cannabis accounting solution for your operation, even if you aren’t quite there today. If you’re currently using seed-to-sale software and a few other disparate systems, it’s time to future-proof your cannabis business with an ERP solution that will grow with you.
Ready to for an all-inclusive ERP with a built-in cannabis accounting software? Contact us today to see how – your wallet will thank you!
With COVID-19 declared a pandemic and businesses encouraged to implement unprecedented levels of remote operations, cannabis businesses are quickly realizing their level of preparedness and having to make drastic adjustments in real-time.
From the first market to the rapid expansion of legalization globally, cannabis industry plant touching companies have been operating at full speed to keep up with the market share race and rapid growth of the industry. As COVID-19 brings uncertainty and global markets to a standstill, the booming industry now has an incredible opportunity to slow down and increase productivity, refine processes, and evaluate business critical tools.
“Now, more than ever, cannabis companies are taking steps to empower their employees to stay safe and work at home. Introspectively, they’ll have to look at their current situation and evaluate their current traceability, remote access, and where their data is hosted,” stated Michael Kiehn, Vice President of Sales and Marketing at 365 Cannabis.
Cannabis businesses hosting their business-critical information with on-prem solutions face extreme limitations that can result in loss of productivity. Cloud hosting provides an unmatched advantage for cannabis businesses continuing operation off-site with maximum accessibility. Cloud hosting not only gives businesses the ability to deploy, but also to operate regardless of location.
Cannabis businesses currently implementing or operating on an ERP platform should be evaluating how their service providers are accommodating their needs during remote operational times. Where most platforms have the option to be cloud hosted, most ERPs are lacking in their remote training, support, and deployment. This can be a huge blow to production, but a great indicator that it is time to evaluate other solutions to prevent slowdowns or stops in service in the future.
It is likely that if there is an incident of COVID-19 in a facility there will be mandatory recalls on products to avoid any health risks. Digital, complete traceability of products and people through the supply chain to pinpoint where an incident occurs allows plant touching companies to mitigate risk and potential under or over-reaction due to lack of information.
While many are scrambling to continue operation and plan for uncertainty, cannabis businesses using the 365 Cannabis ERP solution are business as usual and even ramping up, taking advantage of the time and resources available for extra training and business process planning.
“Companies using 365 Cannabis are able to maintain operations during this unprecedented global emergency while mitigating risks through our complete remote methodology. From inception, 365 Cannabis has successfully trained, implemented, and supported our customers completely remote. For operations without a cloud-based solution, now is when they should start implementing these tools,” explained Kiehn.
PharmaCannis, a multi-state license holder and vertically integrated cannabis company, has been using 365 Cannabis software for more than a year.
“We have been well equipped for a situation like this for over a year. 365 Cannabis allows our team to reduce contact across operations and increase automation and workflow efficiency. Having cloud-based access was crucial to expediting our remote transition, maintaining cash-flow, and minimizing downtime,” explained Mike Chodil, Chief Strategy Officer at PharmaCannis.
The cannabis industry has a unique opportunity to take a step back and evaluate their current business processes and what tools are available to prevent slowdowns in the future.
As the legal cannabis market continues to expand, cannabusinesses will need a robust inventory management solution to meet the increasingly complex requirements.
Expanding distributions, increasing product offerings, and ever-changing compliance regulations will make the limitations of manual inventory tracking near impossible.
Regardless of your operation type, cannabis inventory management should be one of the highest priorities. Whether you are applying for a cannabis license or currently operating, every cannabusiness can benefit from streamlining their inventory system.
Having the right system in place reduces costs, creates labor efficiencies, automates processes, and most importantly, boosts profits.
We have compiled a checklist of the top five factors to look for in a cannabis inventory management system.
Having a dedicated cannabis software is critical to efficient inventory management. From cultivators to distributors, processors to retailers, dealing with large volume sales requires your system to not only be reliable but track inventory data in real-time across departments.
Cannabis ERP software offers extensive functionality when dealing with inventory management. Easily track and manage inventory levels, sync real-time sales, and use historical data to plan ahead.
The right software can boost profitability, decrease manual errors, and streamline your entire operation. After all, the end goal is to work on your business, not in it.
Implementing a dedicated inventory management system allows you to conduct regular inventory audits. Regular audits ensure there are no discrepancies between the inventory you have listed and what is on the shelves.
Creating a regular schedule makes the process more efficient and less chaotic. This process should not be overlooked.
In fact, this is a compliance requirement for many legal operating states. Oklahoma requires a monthly inventory reconciliation report on the 15th of every month. California requires it every 30 days. And, our friends up north in Ontario are required to properly track, report, and submit a report on inventory by the 5th of each month.
365 Cannabis automatically generates these types of reports for your local reporting system.
Keeping track of inventory is important. Even more, streamlining the production and sale of your products is critical for longevity and profit maximization.
With the right cannabis inventory management software in place, important KPI’s are easily reported on to make business-critical decisions.
Inventory turnover, days of supply, age of inventory, product performance, and gross margin are just a few that can provide valuable insights into what your future roadmap should include.
Businesses don’t produce and sell products with the intention of them being recalled, but it happens. And when it does, it is critical to be prepared and know the exact inventory batches, amounts, and locations to pull from the shelves.
This can be difficult without a cannabis-specific inventory software. If your system only tracks by product name, you could be forced to recall all your product rather than just the affected batch.
The most efficient (and compliant) cannabis inventory management systems will store all products by lot number, batch number, SKU, and barcode number. This makes it extremely easy to find and remove all the recalled inventory.
Poor inventory management results in two scenarios that stunt growth: not enough stock, and too much stock. Both are problematic in that they decrease sales.
In the cannabis industry, goods are perishable. Excess products are deeply discounted, taking up valuable shelf space, or thrown out, severely cutting profits.
On the flip side, constantly running out of top-selling products will lower your sales and can affect customer loyalty.
With automated inventory replenishment, you no longer have to worry about over or under-producing. Remove bottlenecks and bloat with a cannabis inventory management that ensures your cannabusiness is operating at peak efficiency.
Your inventory is the most important part of your operation. Automated audits, managing supply, and reporting on product performance is crucial to the health and growth of your business. Cannabis-specific ERP software houses a robust management system that pulls real-time data from all areas of your operation, ensuring your inventory is up-to-date at all times.
Schedule a demo to see 365 Cannabis’ inventory management system in action.
