The tendency to think big that brings many new cannabis business owners to this industry can have its limitations, much like the cannabis software they choose to run their business. Instead of selecting the best cannabis technology available, many young companies choose off-the-shelf solutions and entry-level accounting packages. Unfortunately, these solutions can’t handle the breadth of cannabis tasks effectively.
So, how do you know which cannabis accounting solution is right for your business?
Seed to Sale Solution is not ERP
As a cannabis operator, you’ve at least heard the term seed-to-sale software and if you’re like other cannabis business owners, you may even have first-hand knowledge. But how much do you really know about seed-to-sale solutions?
These solutions are equipped with relatively few inventory management features unless it’s compliance-related inventory functions. You see, while seed-to-sale technology is often marketed as an enterprise-level business management solution, it falls short in providing many critical ERP features.
Seed-to-sale systems are primarily compliance solutions that follow a cannabis product from growth (the seed) and through its lifecycle onto your customers (the sale). Of course, tracking and compliance are among your top priorities, but they aren’t your only concerns. Seed-to-sale software offers simple inventory management functions, but again, these answer the call to compliance rather than delivering the targeted functionality that we see with authentic ERP applications. To establish a profitable cannabis operation, you’ll need advanced inventory management.
QuickBooks is not ERP
It’s common to see a cannabis business have a seed-to-sale system to manage cannabis tracking, a cannabis point-of-sale (POS) system for retail sales, and then an off-the-shelf solution like Quickbooks for accounting.
Quickbooks is an easy-to-use accounting package that is easy to install and use, but is designed for more traditional, straightforward businesses.
Quickbooks simply can’t keep pace with cannabis accounting requirements, warehouse operations, HR functions, customer service, and supply and demand planning the way cannabis ERP can.
The resulting headache of trying to make Quickbooks or seed-to-sale solutions work leaves cannabis operators with few features and even fewer integration possibilities. Cannabis businesses need a single source of truth to boost overall efficiency, increase productivity, and provide ready-access business insights for decision-making.
Cannabis ERP for Cannabis Companies
Cannabis ERP offers strong, comprehensive, and scalable functionality and manages all aspects of your cannabis operations and accounting functions and reaches every part of the marijuana supply chain, from cannabis inventory to warehouse management, shipping, receiving logistics, and more.
With a purpose-built system to protect the entire operation, a cannabusiness can eliminate the various manual, disconnected processes prone to human error. As your business operations grow and develop, cannabis ERP grows and scales with you while keeping full audit trails essential for compliance needs. Using intuitive dashboards, reporting, and analysis tools, cannabis ERP delivers auditable tracking and deep insights into your day-to-day business so you can make informed decisions.
Integrating all your cannabis business data into a single solution, cannabis ERP helps streamline every element of your operation.
The Bottom Line
When you begin researching your next cannabis business management solution, think bigger and better. Avoid wasting precious time and capital on short-term fixes and partial solutions instead of a robust foundation to achieve your cannabis accounting and operational goals.
c2b teknologies offers a financial management package that delivers automation and accounting controls to keep your cannabis operation audit-ready and positioned to scale. Contact us to learn how we can bring improved business performance to your cannabis organization.