The Cannabis industry, with its recent rise, offers great potential for ERP vendors. In this complex market, the right ERP vendor for successful management has a big role.
As the cannabis industry attracts new ERP vendors hoping to take advantage of a booming marketplace, marijuana businesses are wise to be cautious in their search for a technology provider to ensure vendors possess the features needed for success. It’s important to investigate potential providers carefully to determine if they have the industry knowledge and software functionalities to navigate this complex marketplace. To get you started, here are four features to look for in a cannabis ERP software vendor:
Capability to meet reporting and state compliance needs
In a highly regulated industry with an evolving landscape, the capability to meet regulatory compliances are imperative. Your ERP vendor should stay abreast of everchanging laws and requirements, including compliance with reporting for licensing, seed-to-sale traceability, testing procedures, waste disposal, transportation, product recalls, packaging, labeling and taxes. The ERP solution’s ability to efficiently manage requirements from multiple locations and jurisdictions with integration to Metrc, BioTrackTHC or Leaf Data Systems for state-specific reporting is a critical need for cannabis operations.
Industry-specific knowledge and experience
Finding an ERP vendor with experts who understand the terminology, business methods, economic climate and compliance requirements for the cannabis marketplace will be an added benefit for your company. By incorporating this expertise into cannabis software development, implementation and support, the unique needs and best practices of the industry are leveraged to provide an edge over the competition. Industry experience results in the quicker resolution of problems, as well as the incorporation of new features and modifications of the software as the cannabis market continues to develop.
The ERP vendor you select should have the ability to support future growth and innovation. If your company will need a particular functionality in the future, you will want to ensure that the vendor has it available, such as analytics software, research and development, point of sale retail management (POS), warehouse management solution (WMS). As well, the ability to increase the number of users with ease and add new facility locations to support company expansion is beneficial. As your business grows, ensure that the cannabis ERP solution you choose can expand with you as well.
An investigation into the level of support offered by an ERP vendor is important, as it is advantageous to work with a partner who supports you through all aspects of the implementation process, as well as the transition into post implementation and ongoing client support. Understand what options your ERP provider supplies for support and maintenance plans, remote and onsite training, new version releases and software updates to ensure you receive the best ROI for your cannabis business.
ProcessPro offers a complete business management system for manufacturing, sales, financials and quality with seed-to-sale traceability for regulatory compliance and reporting. Our software experts are familiar with your industry and can provide the knowledge and experience to conduct a smooth implementation with ongoing support.