The cannabis industry is one of the fastest-growing industries in the United States. Not only are new markets popping up as new medical and recreational legalizations roll through the country, but existing markets continue to grow as well.
Managing and keeping up with such phenomenal growth presents a significant challenge to operators in the space, and the days of the mom-and-pop cannabis grower are quickly falling by the wayside. The simple reality is that cannabis companies need technology solutions now more than ever, which is where a true cloud ERP system is crucial to your longevity.
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Cloud ERP systems give cannabis operators the power to develop and fine-tune their strategies for differentiation in the crowded cannabis market while maintaining exceptional operational oversight and keeping up with ever-shifting regulatory mandates.
As a software solution that integrates all business data into a single silo, true cloud ERP helps streamline every element of operation in the cannabis industry.
Scalability
A significant benefit of cloud ERP systems is the ability to scale with tools that enable your cannabusiness and to keep up with customer demand and foster growth from within. Growing your cannabusiness to meet new market demands creates increasing levels of complexity if you consider its effect on core workflows and job processes not to mention how mismanaging expansion can become a shortcut to closing your doors for good.
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True cloud-based ERP systems feature robust integration options that allow users to unify all of their operational data, granting access to extremely detailed insight into what is going on in the business in real-time. By granting this level of operational insight, the system inherently alleviates many of the pain points that can cause growing companies to buckle simply by creating a transparent internal business environment.
Keeping Overhead Low
Scaling business inevitably also means scaling costs, and cloud ERPs help combat this issue by way of the same operational transparency that helps foster further growth. Disconnected departments and work sites create wastes and redundancies, but cloud-based ERP systems shine a light on where such wastes are happening. Issues like over-ordering supplies and overstaffing are quickly exposed by ERP systems, empowering leadership to correct these issues to cut costs.
Quality Cannabis Products
Cannabis users expect high levels of both quality and consistency of cannabusinesses, and operators in the industry understand how tough it can be to maintain such standards when dealing with the dynamic changes of growth cycles, strains, and product formulations. Cloud ERP systems help remove variables from the product lifecycle by standardizing and making readily accessible all processes related to product creation. From formulations to growth strategies to final product processes, all data on how to create the final product gets maintained in a centralized location.
Staying Compliant
One of the toughest challenges for cannabis companies is staying compliant with rapidly changing regulations. True cloud-based ERP systems, however, help get users out ahead of this problem by automatically updating with all new rules as they roll out, creating alerts to notify operators of any changes, and flagging problem areas as they arise.
