The regulations governing the cannabis industry today continue in their constant state of change to which we’ve all grown accustomed. Nevertheless, companies operating in this space must remain up-to-date with the evolving guidelines which dictate their business processes and often vary from state to state. Cannabusiness owners are certainly no stranger to the term compliance, but maintaining compliance becomes increasingly challenging with multiple regulatory agencies requiring more data.
As a cannabusiness grows, the business data they’re required to manage and report to the various agencies becomes impossible track manually. With compliance requiring strict, day-to-day accountability, how can cannabis operators be expected to maintain adherence to compliance and still grow their business? Guiding you through the complexities of cannabis compliance is cannabis enterprise resource planning.
What is Cannabis ERP?
Cannabis enterprise resource planning (ERP) is a system which integrates the main functional areas of a cannabis organization’s business processes into one single, unified system.
An ERP solution specific to the cannabis industry is essential due to the nuances of a newly legitimate but complicated industry in its early stages, growing faster than legislation can keep pace. Cannabis ERP ensures compliance across the commonly regulated areas such as finance, production, inventory tracking and management, licensing compliance, packaging, labeling, and waste management, taxation.
With cannabis industry software to manage other important security considerations including privacy, accessibility and customer data, organizations can maintain adherence in an industry where federal and state laws can vary significantly. Here are a few additional ways ERP addresses cannabis industry compliance:
Cannabis ERP delivers the accounting functionality required for this highly regulated industry. Off-the-shelf accounting packages, such as Quickbooks, are built to support a broad range of small businesses and not specific enough for the accounting requirements of the cannabis industry.
- Inventory Management
Manage inventory and analyze inventory processes. Warehouse operations are able to stock, pick and fulfill orders faster and more accurately with cannabis ERP.
Streamlined reports and analytics allow for operators to make informed business decisions with product profitability, inventory and promotional insights.
- Human Resources
With cannabis ERP, companies can integrate payroll, benefit schedules, recruiting, training and analytics. HR staff can keep track of employee hours for improved payroll, activity tracking and shift management.
- Business Intelligence
In an industry where every aspect of production is tracked, documented and needs to be accessible with real-time accuracy, manual data tracking simply won’t work.
Business intelligence functions of cannabis ERP allows your company to stay on top of the competition and draw insights from centralized data. Cannabis ERP goes further to ensure your growth strategies and regulatory requirements align.
Manage your entire process from deliveries through processing to inventory while optimizing production schedules, speeding up turnaround times and increasing productivity. Simplify traceability and recall management with cannabis ERP.
- Quality Control
Through cannabis ERP, you can ensure repeatable and scalable processes are delivering the best quality products. Cannabis ERP tracks ingredients throughout their life cycles.
Some regulations mandate that cannabis businesses track batches from each plant seed to every package sold to a customer or seed-to-sale. Package and lot sizes are defined by the tracking system implemented by the regulatory agencies. In the case of a product recall, cannabis ERP offers full traceability of products from seed-to-sale.
With cannabis enterprise resource planning, cannabusinesses get the operational and compliance tools to meet the requirements of an ever-changing industry in one cannabis industry software solution.
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