Cannabis: Seed to Sale Software
Cannabis industry is growing at a propitious rate. Hemp and marijuana legalization, as well as CBD’s growing demand pointed to this continual development. Grand View Research found that in 2016, medical marijuana was recorded as the largest type segment of weed in the market. It was estimated to reach $100.03 billion value by 2025.
This commercial progress set cannabis seed to sale software as a vital necessity for those engaged in the weed industries. It provides stakeholders with the ability to navigate the landscape surrounding the business and its day to day fluctuations. It also equips and capacitates them with tools essential in efficiently tracking the weed industry, including the government rules and legislations surrounding the trade.
Aside from this, cannabis software also boasts built-in infrastructures that enable companies to monitor tax compliance, office personnel activities, employee payrolls, websites containing job availability and seed for sale demand in the market. These features help cannabis entrepreneurs obtain the required components so as to qualify for a dispensary license.
What is seed to sale?
Seed to sale software became a necessity when the regulated adult use and consumption of cannabis was awarded legal status. According to Fit Small Business, in 2018, legal cannabis in the United States generated approximately $10 billion sales rate. Moreover, in the same country, the total demand for cannabis stand at $52.5 billion.
In light of this, government authorities compelled the licensed cannabis operators engaged in the business to trace the lifecycle of their weed products. Consequently, they are required to provide a detailed report as it courses through all stages of the supply chain.
Seed to sale software functions as a system where companies exert control over their merchandise as it moves through the entire production process. It refers to the way business enterprises comprehensively oversee the entire operation – from marijuana plantation to harvesting, packaging, selling and retailing. It seeks to satisfy the agricultural needs of the crop, including packaging and trade requirements.
This intensive monitoring and tracking enables business enterprises to meet and satisfy the legal requirements surrounding the trade. It also facilitates the enforcement of stringent rules and regulations to people engaged in the industry. Marijuana software is a platform commonly used to supervise and carry out these activities.
Aside from its production and market chain, the software also keeps an eye on the medical strains and the amount of cannabinoid present in the produce released to the market. It provides a comprehensive strain analysis to the stakeholders. This collected data assists them in comparing the new strains from the old one.
The cannabis software also boasts an integrated scale feature which allows distributors and producers to measure and dispense the amount of dosage needed by the client. These features ensure that business owners are thoroughly equipped with knowledge and understanding of the customer’s necessity in regards to cannabis use.
Added to this, the seed to sale platform also comes with product barcodes and audit trails, as well as weed inventory management tools, retail transaction monitoring system, and stringent security measures. These features not only provide ease and convenience to cannabis entrepreneurs: it also improves the transparency of the business and the availability and accessibility of data relevant to the weed industry.
Without a doubt, this access to good information serve as the chief foundation in building the trust of the industry’s key stakeholders. This includes the members of the government agencies, business entrepreneurs, and cannabis market. Capping the security concerns surrounding marijuana, these attributes prohibit unauthorized personnel from seizing the product.
Seed to sale software for cannabis dispensaries
Of all the legal requirements, compliance placed a heavy emphasis on crop accounting. This requires cannabis entrepreneurs to number their produce by batches and log all relevant information about the crops that are germinated and cloned. Those that perished and disposed of should also be accounted for in the records.
Producers are required to document their business sales, marijuana inventory, and transaction details with authorized vendors. The amount of pesticides used in growing the crops as well as the years of data from their testing lab should also be filed.
This is precisely where the Enterprise Resource Management (ERM) comes into play. In order to fulfill these compliance requirements in the industry, stakeholders need ERM systems for implementation and automated processing. These stakeholders include the weed dispensers, growers, processors, and distributors.
It is significant to note that in the United States, all ERM systems are directly connected to Metrc. Metrc is the regulatory cannabis system and legislation partner of the US government. It is primarily required by six American states: California, Oregon, Alaska, Colorado, Nevada, and Washington. It seeks to provide regulatory frameworks and essential tools needed by the US government in monitoring the cannabis value chain and enforcing strict compliance regulations to its constituents.
The difficult nature of Metrc opens the need for seed to sale software program. The said software automate the compliance process for the shareholders in the trade. The following attributes are highly recommend in choosing a platform:
- All-in-one feature
The erratic and rapidly changing laws and legislation status of cannabis placed the industry in a state of perpetual fluctuations. These conditions created the need for business simplification and optimization. This can be met by availing a marijuana software that can fulfill and operate its designated function even without connecting to multiple single-service platform.
All-in-one platforms has a built-in CRM in its POS that enable cannabis stakeholders to constantly monitor their product inventory as well as manage their marketing campaigns. It also bolsters the company’s efficiency and productivity. Above all, it helps ensure business to remain compliant to the laws and legislation surrounding the trade, especially in an erratic and highly volatile environment.
- Consultation services from the platform provider
Years of concrete experience and good grasp of business intelligence is required in order to have a sound advise. These insights equip entrepreneurs with knowledge and awareness pertaining to the best operation practices in the industry.
For companies that primordially value profit, growth, and stability, a seed to sale software coupled with consulting services from the providers is highly recommended. These providers centralize the company’s control and connect its program system with API integration. Furthermore, they also provide assistance to clients, especially in developing the blueprint for their company’s ROI, forecasting cannabis yield, and defining the strategies that will capture the market.
- Customer relationship focus
In the cannabis industry, relationships with clients and other stakeholders are paramount to its survival. This also revitalizes the marketing campaign of the business. Companies that place a premium value on customer care should choose a software with a CRM system programmed to build and sustain connections with the clients.
This feature allots greater focus on people and the business’ relationship with them. It provides ease in managing both the cannabis vendors and clients of the industry. The CRM also made it easy to send SMS and emails containing information on new products, innovation in the industry, discount offers, promotions, special events, as well as loyalty and referral programs.
- Ease of use
Softwares that can customize ventures and has a single point interface POS system is a gem in the weed industry. This is beneficial for cannabis cultivators, dispensaries, as well as government agencies. Some seed to sale software is equipped with cultivation grid feature. This allows clients, specifically cannabis cultivators, to track the genealogy of the crops, monitor and draw yield forecast from the available data, and use the findings as tactical leverage for optimal growth.
Aside from this, the tracking feature is also advantageous for the members of the regulatory agencies. It provides them the overall landscape of the cannabis production process. It also offers vital insights to the program’s capabilities such as ensuring compliance, enforcement of laws and regulations, tax collections, product verification and quality assurance, and prevention of felonious activities.
- Mobile integration
The POS inventory management feature of marijuana software is most advantageous if it comes with mobile integration support. Perfect for those engaged in cannabis dispensaries, this attribute streamlines the process of scanning the identity cards of the clients and uploading these records to the POS. It also works well with other cannabis applications such as Wurk, Leafy, and Sprout.
This mobile integration feature can also be maximized as a tool to regularly monitor the purchase limits of the customers. This ensures that the business is running in concurrence with the law and the customers are fully protected.
Do cultivators need more to ensure business success?
Most seed to sale software solutions present in the market are designed to make sure the business’ compliance with the existing government legislation. However, to remain strong and competitive in a highly volatile market, companies need more than that.
Cannabase, the chief operator of Colorado’s weed market, reported that since 2014, the average wholesale price of cannabis significantly dropped 48% to about $1,300 per pound. The rapid increase in market competition driven and sustained by the product’s legalization is presumed to have caused this decline.
These conditions open the need for a technology infrastructure capable of catering the necessities in the industry. Aside from this, the said infrastructure should also have a support for a comprehensive multi-stage cannabis cultivation and operation process. These attributes monitor not only the landscape of the legal requirements and the steps taken by the cannabis entrepreneurs but, more importantly, the crop plantation and its entire lifecycle and processes.
Tracking the raw materials used in growing the crops enables companies to possess the blueprint of the weed product. This includes expenditures incurred per cannabis pound, strains, as well as losses in revenue. A closer look at this information helps companies calculate the overall operational cost of the business, identify the key indicators, and better manage expenditures.
Given all these conditions and necessities, at the end of the day, what matters is having a software provider capable of bringing optimal results and maximum efficiency. With 98% customer retention rate, XOverture has demonstrated proficiency in meeting the stakeholders needs and demands, as well as delivering promising impacts.
XOverture boasts up-to-date, transparent, and adaptable cannabis technology solutions combined with top-notch data security, cloud infrastructure, and managed IT services. This fusion enables XOverture to drop business growth, unfailing regulatory compliance, product innovation, and company sustainability as surefire guarantees.
If you are in the cannabis industry, get all these by simply dropping us a message!