There’s a lot to know about cannabis compliance software and seed to sale tracking. That’s why we’ve put together this article to get you up to speed!
The sheer number of states that have implemented medical cannabis programs is simply astounding. California led the way with Proposition 215 back in 1996, largely due to activism by HIV/AIDS and cancer patients. In October 2019, a nationwide Gallup Poll found that 66 percent of Americans favor legalizing cannabis. Diving deeper, 74 percent of African-Americans and 57 percent of Hispanics now favor legalized cannabis and 11 states permit adult-use sales.
These trends clearly show that attitudes are changing and there are excellent opportunities for growth in the cannabis business. States are adapting to the new cannabis environment, but with acceptance comes responsibility. Many states implemented strict (some would say overly burdensome) regulatory requirements. Most require seed to sale tracking platforms and it’s good business to know about the benefits of seed to sale tracking for your state’s regulated program. While specific requirements differ from state to state, compliance itself is a mandated requirement.
Do Most States Require a Seed to Sale Tracking Program?
The answer is yes, most cannabis-regulated states require a cannabis compliance software system for tracking cannabis cultivation and production, packaging, shipments/transport, testing, inventory management, waste disposal, and retail sales. Early medical marijuana adopter states like California, Colorado, and Oregon require cannabis businesses to use Metrc®. It’s a specific tracking and cannabis compliance software platform that is gaining in popularity across the nation with eleven states, recently including Maryland and Massachusetts. The state of Oklahoma appears to be bucking the complicated compliance trend as it currently only requires basic monthly reporting via its template.
For the majority of states that require extensive reporting, data entry and other compliance mistakes can be costly. The solution is cloud-based, seed to sale tracking solutions by cultivators for cultivators. Our cannabis compliance software simplifies compliance by seamlessly integrating with state-mandated platforms like Metrc and others. This may be the greatest benefit of using the BLAZE platform. Even if state governments change their reporting requirements at some point in the future, you can be confident that data collected and managed by BLAZE will adapt to any future reporting and compliance requirements. We’ve got your back and will do the heavy lifting so you can concentrate on growing your business.
What Are the Benefits of Seed to Sale Tracking?
Our strategy is to turn a burden into an opportunity; sort of like turning lemons into lemonade only with cannabis. Here are a few benefits to consider:
Simplify Data Reporting & Compliance
This is perhaps the holy grail of cannabis reporting requirements. If your staff relies on entering compliance data by hand you run the risk of creating serious problems with unintended errors. BLAZE provides templates and other reporting options to reduce unintended errors and simplify data entry for Metrc and other state-mandated reporting requirements. It also has built-in warnings when data (or timing) is not in sync with your state’s compliance requirements.
Inventory Management
Knowing and managing inventory details is essential for any supply chain as complicated as the cannabis marketplace. Employees, customers, and regulators all need accurate and up to date inventory management data.
Real-Time Cultivation Metrics
Track the physical elements of your grow including your “recipe” of nutrients, environmental conditions, water use, etc. the optimal harvest time and dialing in your curing process. Protect your terps!
Cost Analysis
Running any kind of cannabis business is an expensive endeavor. Data can help tell the story of where your money is going and good analysis can show you how to manage it better.
Create Streamlined Processes and Techniques
Improve how your team performs their jobs. Data analytics allows you to examine workflows, procedures, and processes to gain insights into what’s working, and, more importantly, what can work better?
Scalability
No pun intended, but most cannabis business owners want to grow their business. Have you thought about how you can scale up without massive disruption to your current operations? Seed to sale software helps you with forecasting and planning so, like a healthy and happy sativa plant you can grow to new heights.
Theft Reduction
Unfortunately, theft exists in cannabis operations. Seed to sale hardware and software won’t completely eliminate potential employee theft issues. However, it makes it much harder to steal a plant, bud, or other product because tracking data will detect if something is suddenly missing from the system.
Sales Trends
Having sales data literally at your fingertips makes planning and strategizing a more straight forward process. Again, what story is the data telling you? What’s on track? What’s not, and how can you improve it? What trends are emerging in the marketplace that you can take advantage of before your competitors do?
Tax Collection and Reporting
Medical and adult-use cannabis sales hold the promise of substantial tax dollars going into the state’s coffers. This is one reason why state and local governments are changing their position on cannabis sales. The state wants its cut and accurate reporting is crucial. Without it, you can bet that the taxman will be knocking loudly on your office door.
We are proud to be a part of the cannabis community and marketplace. We’d love to start a conversation to see how we can play a role in your cannabis business success. Contact us and let’s explore how we can help you. Reach out online or call us at (415) 964-5689.
