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.
Most cannabis organizations have invested a lot of time and money into seed to sale tracking systems, yet many aren’t satisfied with the functionality and value.
To maximize the benefit from your current seed to sale tracking system, it may help to take a step back and examine how your people, processes, and system could improve.
After evaluating your current situation, you ultimately might decide to implement an ERP system. Although this sounds like a draining task, there are ways to maximize your seed to sale tracking system in the short-term while setting your new cannabis ERP up for success.
Every employee that will be using your seed to sale tracking system must receive thorough training. Hands-on training that is, ideally, conducted by your software provider is crucial to maximizing your return. Check with your software support team to see what ongoing trainings they can offer your current and future employees.
It is critical to make sure that someone in the company is trained as the system “guru”—the go-to person for onsite questions and troubleshooting. This person can answer general questions, help find solutions, and relay important information back to the vendor.
Having a dedicated resource within your company ensures that common questions are addressed company-wide, operations are not halted while waiting on your software vendor, and employees are not going against standard operating procedures.
Establish process maps to ensure consistent data entry, easy training, and accessibility. Documentation written by your software provider is great for basic how-to refreshers but will be generic to functionality.
Keeping your own updated documentation that includes your companies’ best practices and operating procedures ensures that information is not forgotten or lost when someone leaves the company. The information can be easily shared with other employees.
Once your people and processes are in place, it’s time to evaluate the system itself. While your seed to sale tracking software may be housing your data properly, is your vendor updating the system to meet current and future cannabis industry needs?
ERP vendors invest heavily in consistently improving their solutions with consistent functionality improvements, service packs, and various updates that allow users to benefit from emerging technologies, evolving regulations, and industry best practices. If you’ve invested in seed to sale but haven’t received updates, ERP can future-proof your cannabusiness.
As the cannabis market matures, companies that can’t scale are quickly becoming stagnant or worse, closing shop. One of the easiest ways to ensure your business is ready to scale is ensuring your software supports growth.
Can your seed to sale software handle more than one state or country compliance tracking system? Multi-location? Multi-language? Multi-currency? Tax code? If your business is expanding, but your software is hindering growth, it may be time to check out ERP.
The core of your seed to sale software tracking system should house all business-critical functionality. Integrations are useful as add-ons, but should not be relied on for core business activities. Standard cannabis operations, such as cultivation, processing, inventory, and retail should be built into the core of your seed to sale tracking software.
This is where ERP comes into play. Cannabis specific ERP houses a built-in financial system, standard seed to sale functionality, and the ability to customize the system to your unique requirements.
Seed to sale software is an investment with direct and indirect ROI. To ensure you are getting the most out of your system, it is important to identify time and money savings, job function and process improvements, and overall growth.
Implementing the above best practices can help cannabusinesses ensure they’re getting the maximum value from their current seed to sale tracking system.
However, fixes to your current system may not resolve issues with functionality, scalability, and overall growth. If a new system is the better option for your business’s needs, the above steps will help you implement and build a solid foundation and future-proof your new cannabis ERP system.
Contact 365 Cannabis today if you have any questions about maximizing the value of your seed to sale tracking system or would like to see the unmatched benefits of cannabis-specific ERP.
As the legalization of both medical and recreational cannabis continues to spread across the world, cannabis business owners are looking for business management solutions that will help them maintain compliance with their state regulatory systems.
In most states, local governments have selected regulatory cannabis systems that require cultivators, manufacturers, distributors, and dispensaries to report everything from plant weight to harvest waste to retail labels, etc.
However, these state systems don't help cannabis business owners run an efficient business. This is where seed-to-sale software comes in.
Seed-to-sale software systems promise to keep your business compliant and optimize your operations; however, they often fail in delivering on these promises.
Seed-to-sale software lacks the accounting aspect of business operations software along with a plethora of other functionalities related to finance.
In most cases, a seed-to-sale vendor would integrate with another accounting software, like QuickBooks, to enable financial data to push/pull between the two systems.
The problem with integrating your finances lies in the instability of some integrations and the lack of industry-specific features.
Cannabis companies face strict regulations, and without a reliable financial system in place, they are one misstep away from a lapse in compliance.
Much like the legal cannabis industry, seed-to-sale software is a relatively “new” product. Most of these platforms are proprietary software systems that are built from the ground up, sometime within the last ten years.
While it is great to see the cannabis industry creating jobs, this isn’t necessarily a good thing for cannabis companies because it results in products lacking key functionality that comes from traditional cultivation, manufacturing, distribution, and retail software.
Due to the ever-changing world of cannabis, many seed-to-sale software companies choose to remain within a specific locale where they have experience and understanding of local regulations.
This could mean bad news for companies that plan to scale and expand into multiple states or internationally.
Traditional seed-to-sale software isn't equipped with accounting software, point of sale (POS) software, menu boards, or customer relationship management (CRM). This leaves its users to look elsewhere to satisfy their other needs.
Most seed-to-sale systems do allow integrations into their platforms; however, these integrations can be unreliable, and the bills from using multiple platforms add up very quickly.
These shortcomings all boil down to one simple truth. seed-to-sale software helps businesses stay compliant, not competitive.
Cannabis companies face steep competition. Without the ability to track product performance, create products through MRP, measure financial performance, rely on their software to provide the most accurate organizational data in real-time, etc., they will quickly fall behind their competitors. This is where cannabis ERP can step in and provide value to cannabis companies.
Enterprise resource planning (ERP) software far exceeds seed-to-sale software in terms of functionality and long-term sustainability. Combining traditional supply chain management capabilities with cannabis-specific functionality, ERP delivers cannabis businesses with an all-encompassing solution. This eliminates the need for businesses to use separate systems for each department. ERP software allows cannabis businesses to manage their entire operation in one synergistic system.
365 Cannabis is an ERP solution with functionality specifically tailored to the challenges and requirements of the cannabis industry. Built on Microsoft Dynamics Business Central, 365 Cannabis combines traditional supply chain management capabilities with cannabis-specific functionality for a complete solution.
The module-based ERP is robust. This setup allows cannabis businesses to use the system in its entirety—from financials, cultivation, processing, CRM, distribution, to retail—or consume modules individually with the option to add more as they scale.
Move beyond compliance and gain a competitive edge. Request a demo with 365 Cannabis today.
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Process maps are representations, often visual, of the steps people follow to complete tasks in an organization. These can be broad overviews or step by step instructions. They provide a way for everyone to understand what is going on and where everyone fits in a process.
It’s important to know what you are doing in order to make improvements to that process. Process maps can help you visualize what is really going on in your organization and identify areas that could be improved. They can range from simple linear overviews of one person’s job or long complex, granular chains that outline multiple steps across several departments. It all depends on your business needs.
You can build process maps with just a few basic shapes. Here are a few that you can use to get started:
Figure 1 Is a screenshot from the Microsoft application Visio of the basic shapes that you can use.
Mapping out what your organization does gives everyone a clear picture of what is expected of them. Managers can see everyone’s role at a glance, and everyone can know where their role fits in the process.
Figure 2 is an overview of the article writing process using basic flowchart figures.
These kinds of maps allow you to see who is doing what and where work might be duplicated or missed. It lets people know exactly who is responsible for which tasks. Just like a normal map, once you’re oriented, it’s easy to figure out where you are going.
There is, or should be, a reason we do most things in business. There’s an outcome we’re looking for and there are certain steps we take to get there. In fact, looking at the ending point can be a good place to start your process map. Then look at where you begin and analyze the steps you need to take to achieve that desired end.
Not all tasks are completed in a straight line and you process maps can be as complex as your organization. Sometimes there is handoff between departments and some task may need to be repeated as other issues become apparent.
Figure 3 is an example of a process map for documentation. This map involves multiple departments and also calls for regular review of information.
Here are a few steps to help you get started:
We build process maps to give visibility to the tasks we complete on a daily basis. They help everyone in an organization understand the big picture and where they fit in as well as standardize and repeat processes. You’ll be able to easily identify shortcomings and make corrections.
Maps have always been intended to help us find our way. Two continents are named after a mapmaker (North and South America are named after the Italian explorer and cartographer Amerigo Vespucci). Just goes to show you how important maps can be.
https://www.microsoft.com/en-us/microsoft-365/growth-center/resources/succeed-with-process-mapping
https://creately.com/blog/diagrams/process-mapping-guide/
https://blog.buoy.ventures/how-to-map-your-business-processes-4a6934026424
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Investing in a dispensary management system over a conventional point-of-sale (POS) system is one of the smartest decisions a cannabis business owner can make.
A POS system has built-in functionality for the needs of cannabis retailers. A proper dispensary management system, on the other hand, will ensure your operation stays in compliance amid volatile state and country regulations.
In this article, we will look at the most beneficial features of a dispensary management system. Likewise, we explain why the features are instrumental in building a business that is not only compliant but also competitive.
Using an effective dispensary management system can significantly increase your transaction speed. This makes life easier for your budtenders but also enhances the customer experience.
Your customers are excited to check out and receive their items. If a transaction takes too long, their interest can quickly fade and eventually turn into frustration.
Customer sales aren’t the only transactions your system will help speed up. It will also modernize your receiving of inventory, end-of-day (EOD) tasks, price updates, and more.
Having the right dispensary POS system in place will optimize your processes. As a result, automated functionality will decrease data errors since processes like tax calculations, inventory adjustments, and returns require minimal system interaction.
In addition, the system can also sync data across multiple devices in real-time. So, if you have multiple terminals in your store (check-in, fulfillment, cashier, etc.), there will be no need to constantly ensure that data is being transferred accurately across all platforms.
Inventory is always going to be paramount in any retail operation. With a proper dispensary management system in place, your inventory levels will be updated in real-time.
In turn, your employees won’t need to worry about your customers ordering items that you don’t have in stock. This is also helpful when it comes to stock reordering points.
Most cannabis enterprise resource planning (ERP) systems are equipped with automated inventory replenishment functionality that will automatically suggest sales orders for products based on criteria you set for reordering.
So, let’s say your OG Kush is in high demand for holidays. The system should automatically suggest that you purchase more OG Kush to satisfy this demand.
The difference between a run-of-the-mill dispensary and an extraordinary one is the loyalty that it builds with its customers. One of the best ways to build a strong rapport with customers is to offer them promotions or discounts to reward them for their business.
A dispensary management system will enable you to automate these discounts and notify your clientele of upcoming promotions. This automation can be as simple or as granular as you decide.
Do you want all edibles to be 20% off on Wednesdays? Not a problem. Would you like Veterans to receive a 15% discount every Friday from 12-6 pm? Also, possible.
You can get as creative as you want with promotions when using proper dispensary management software. And, in turn, create more opportunities for your customers to return.
With a wealth of data, it’d be a waste if business owners couldn’t use this data to visualize the direction of their dispensary.
With a dispensary management system in place, operators can quickly identify bottlenecks and bloat, measure employee performance, forecast promotions, and make more informed decisions in general.
Having advanced reporting and analytic capabilities can quickly propel your dispensary ahead of your competition.
If you’re in the market for a dispensary management system that allows you to optimize your business in all the ways mentioned above and more, 365 Cannabis is a platform that is seriously worth considering. Equipped with industry-leading functionality, their system contains all the tools needed to scale your business into a neighborhood favorite or a multi-location, multi-state behemoth.
No matter how your business evolves, 365 Cannabis is a platform that can scale with you.
Equip your dispensary with a cannabis ERP system that is a cut above the rest. Request a demo with 365 Cannabis today.
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Cannabis crosses over in many regulatory environments and since majority of cannabis markets exist due to its medical benefits, it crosses over into the medical regulatory environment. Particularly, medical cannabis is subject to follow guidelines under HIPAA, which outlines the utter importance of medical data security.
How does this relate to the cannabis industry?
HIPAA or the Health Insurance Portability and Accountability Act (1996) provides regulations on privacy of health information, security of PHI (patient health information) and electronic systems, as well as guidelines and penalties regarding confidentiality in the medical field.
Dispensaries and retail stores that sell to patients and store patient information for business swiftness or state regulatory uploads must be aware of the weight of HIPAA. The US Department Of Health and Human Services develops regulations protecting patients, their privacy, and their security. Being HIPAA compliant means that you comply with three main rules: privacy rule, security rule, and electronic data exchange.
The privacy rule involves simple protection of an individual’s health care data. Applying the privacy rule to your business could mean a variety of things, but the end goal has to include protecting the information.
Going hand in hand with privacy, security controls the confidentiality, storage of, and access related to PHI. Meeting this requirement could mean using a SOC 2 compliant software to manage the data of your business, creating controls to prevent unauthorized access, or using secure servers.
Finally, Electronic Data Exchange (EDI) pertains to data exchanged between providers and payers, or in general transmitting data. Another relevant transfer of data is those that go from the dispensaries to the state for proper tracking and statistics. Technology is both your enemy and your friend, make sure that the system you are using is strong and effective at preventing cyber attacks and successful at ensuring controls are working efficiently.
Anytime you come into contact with patient information or it’s easy for others in your business to access it, then you are subject to these security regulations.
There are some simple suggestions to combatting such an immense regulatory environment: don’t discuss patient information; avoid leaving records accessible to others (open POS systems or backfiles); refrain from printing or storing outside the secure system at all possible.
The best recommendation is to find a system that is SOC 2 compliant or has been audited to ensure exceptional security and safety for the information your business encounters. Always air on the side of caution and take impervious approaches to business processes and controls.
Always consult with professionals about the potential consequences regarding patient health information privacy breaches and plan ahead to prepare for worst case scenarios.
HHS Office of the Secretary,Office for Civil Rights, & Office for Civil Rights. (2013, July 26). Summary of the HIPAA
Security Rule. Retrieved September 26, 2019, from https://www.hhs.gov/hipaa/for-professionals/security/laws-regulations/index.html.[/vc_column_text][/vc_column][/vc_row]
[vc_row][vc_column][vc_column_text]"…you generally spend 80% of your time on 20% of the project."
-Joseph M. Juran
Software personalization in the workplace can make all the difference in adoption and use. It can help take a complex set of tasks and turn it into an intuitive process flow.
People are bombarded with massive amounts of information almost constantly, and while some of that is out of our control, you can remove some of the unnecessary noise from you and your employees by choosing options that allow you to personalize the user experience quickly and easily.
The pareto principle, or the 80/20 rule, describes the relationship between causes and effects. Basically, 80% of your outcomes are likely come from 20% of your input. This observation has become wildly popular in the business management world, but how does your team focus on that small percentage of what’s really important? You can start by taking an active approach to the information that gets through to you on the programs you use at work by personalizing the user interface (UI).
Personalization can help your team focus on the 20% that’s going to impact the largest chunk of your day to day and give you virtual blinders so you can hone in on those important tasks that are likely to provide the largest return on your time investment.
Software personalization can take a lot of forms such as:
Enterprise resource planning (ERP) tools are often massive systems designed to track and trace every step of large organization’s day to day operations. Any individual will probably only use a fraction (maybe 1/5th?) of the features that are available in an ERP. Getting to those “vital few” in a standard ERP can be like trying to find a reliable news outlet in 2019 (too soon?).
Custom software can come with a high price tag. We live in a time where anything is possible, money talks, and time is money. But there are ways to get a personalized result quickly and for less cost than traditional customization.
365 Cannabis is an ERP dedicated to helping your cannabis business run smoothly. We provide a robust core product and an ever-growing network of partners and integrations to help meet all your needs. The 365 Cannabis product is configurable, out of the box, to give individual users a personalized UI with all the most important information front and center on their home screen.
We’ll be honest. You probably won’t use every feature 365 Cannabis has to offer. Our system was designed to fit almost any need that any cannabis business owner, across multiple states and countries, might have. We give you the ability to personalize the UI for every user so that they can focus on what really matters from day one.
Interested in configuring your UI in 365 Cannabis? Check out this video to get you started.[/vc_column_text][/vc_column][/vc_row]
The cannabis industry is booming. As more states legalize, demand will drive unfathomable expansion for cannabis companies. Start-ups are quickly turning into large scale enterprises in a matter of months, outgrowing basic software that is unable to scale. Now, businesses need to look for solutions going beyond seed-to-sale; systems that can track business operations, not just plants.
Implementing a new ERP solution doesn’t happen overnight. It requires careful planning too. Here are a few things to consider when deciding to switch to a cannabis-specific ERP solution.
An ERP system integrates data and processes across multiple departments and locations, allowing a company to produce, move, and track cannabis and non-cannabis products alike quicker than ever.
Especially true for cannabis, no two businesses have the same operational needs. Each operation requires specific software functionality to run efficiently. ERP software is extremely flexible, customizable, and scalable, making it ideal for the cannabis industry.
For example, a company that only cultivates needs robust facility management features such as: yield forecasting, cost per gram, and automated inventory replenishment capabilities. Dispensaries on the other hand require a solution that can automate inventory replenishments, track loyalty, and manage multiple stores. Vertically integrated companies that cultivate, manufacture, distribute, and operate their own retail dispensaries need a solution that can manage every aspect of their operation and communicate between departments.
Fortunately, cannabis industry specific ERP systems like 365 Cannabis tailor the software to accommodate every operation size and type; from cultivators to retailers, startups to multi-million-dollar enterprises. Investing in a cannabis-specific ERP ensures that no matter your operation type, size, location, your business is equipped with the right tools long-term.
Software should not be seen as a cost, but an investment in the health and future of your business. So how do you ensure that this investment delivers ROI immediately and into the future? When selecting a solution that will house all your business-critical information in a highly regulated industry, consider the time, effort, and cost involved to implement and maintain your new system.
New technology is only as good as its implementation. Your ERP supplier should have the knowledge and industry experience to guide you through deployment. It is up to you to ensure you have a dedicated team to put in the time to train, practice, and pass this knowledge on to manage the system independently. Initial effort in equals long-term value out.
Maintaining the integrity of an ERP system requires knowledge of use, best practices, and standard procedures to be spread and passed along to employees. Under-utilization and miss-use due to staff churn or “forgetting” what features and functionality are available will degrade the value of your system. Select an ERP solution with the capacity to provide documentation as well as refresher training courses to ensure that your ERP is continuously used to its full potential.
True ERP systems connect various departments and processes that are currently fragmented in your company. Ditching a cluster of standalone systems will instantly drive efficiency, increase productivity, and reduce manual processes and errors. It’s time to switch to an integrated ERP system built to scale with you.
