The medical cannabis industry is in an unprecedented state of growth, so businesses operating in this space need scalable industry solutions that can grow with them as they expand.
Medical cannabis operators with industry-specific business management software have the flexibility they need to widen their reach to include new territories and patients while also expanding their product offerings. By integrating existing workflow processes to bring all enterprise data under a single umbrella, cannabis enterprise resource planning (ERP) provides valuable business insights and prepares your facility for the inevitable changes that occur in this dynamic industry.
Multi-location Expansion with Cannabis ERP
To capitalize on the industry’s potential, many medical cannabusiness operators are looking to expand their business to include multiple locations. If you run a multi-entity cannabis organization, you need cannabis ERP software with strong financial reporting and multi-entity accounting capabilities. The flexible architecture allows for the easy creation and management of additional locations.
Cannabis ERP in the cloud seamlessly integrates multi-entity operations to ensure accounting and financial tasks are completed efficiently and accurately. Allocating business expenses to multiple entities and recording bank transfers between entities within a single transaction helps facilities easily manage multi-location accounting.
Leave Off-the-shelf Software in the Box
If you operate in the medicinal cannabis industry and are among the many operations who sought off-the-shelf accounting and business management solutions, you quickly realize that as your facility grows, these programs can’t keep up with your evolving needs to grow with you or with the industry as a whole. Rather than work with general accounting software, a cloud-based cannabis ERP solution accounts for the specific challenges facing medicinal cannabis businesses and puts you in a better position for growth.
Switching to a cloud-based ERP system will deliver your facility requirements better. By bringing workflow processes like production, procurement, fulfillment, accounting, personnel scheduling and more into a unified platform, ERP systems highlight operational inefficiencies by presenting operational data through dashboards, making it easy to cross-reference and get a birds-eye view of your operation. This, in turn, winds up cutting costs by exposing the weak points in your operation.
Operating in the Cloud for Growth
Cloud-based cannabis accounting software is also attractive due to its entry cost. Buying into an on-premise ERP solution outright can be costly, whereas subscribing to a cloud-based solution lets you pay only for what you need on an as-needed basis. Additionally, cloud-based ERP is turnkey – meaning integrating cannabis ERP into your facility happens largely offsite and is overseen by your ERP vendor, saving you money and time on IT infrastructure as you grow.
A cloud-based ERP solution also lets you automate many of your manual accounting processes. With automated reporting tools accessible virtually anywhere and anytime, you can leverage the cloud to do away with disparate systems and spreadsheets while maintaining access to their business-critical applications around the clock.
Sage Intacct for Medical Cannabis Companies
Whether you operate as a medicinal cannabis cultivator or extractor, a manufacturer or healthcare facility, the industry continues to explode with innovation. With a robust and flexible cloud-based ERP solution like Sage Intacct, leadership in your organization will gain access to all of your operational data to help lead your operation into the future.
When you need to adapt in a rapidly changing environment, Sage Intacct’s cannabis ERP lets you quickly compare performance across locations. Intacct goes even further with the capability to easily switch between consolidated and local views for further insights.
Sage Intacct’s cloud accounting software is built specifically for medical cannabis companies, so you finally have the advanced technologies to support your unique operational and accounting needs. With Sage Intacct, medicinal cannabis operators like you are able to stay ahead of the competition and make informed business decisions that support your growth initiatives.
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