It doesn’t matter if you’re a distributor, a retailer, or a cultivator — in the cannabis industry, inventory is everything. Effective inventory management and costing are key when it comes to maintaining compliance with state and federal regulations, improving business efficiency, and of course, maximizing profits. But it’s not exactly easy or straightforward. Cost accounting…
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As the cannabis industry continues to expand and evolve, we’re starting to recognize certain patterns and traits among those brands that not only rise to the top – but stay there. The most significant of these indicators? Quality. Quality control – or QC – may not be the most exciting part of the burgeoning cannabis…
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If you’re a licensed cannabis company, chances are, you’re very familiar with the challenges that come with the territory. You’re managing multiple data sources, systems, and processes that must remain in-sync and compliant — 24/7. Otherwise, your business becomes vulnerable to the kinds of risks that can get you shut down, fined, even convicted. Because…
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Accounting and inventory tracking capabilities are crucial for running any type of business. But, for cannabis companies, they’re an urgent priority that can make or break your business. Failing to invest in the right solutions could open the door to all kinds of risks. It could put your license in jeopardy, trigger an audit from…
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Five things you need to know before you buy. When we speak to cannabis/marijuana growers, processors and distributors, we’re usually talking to young companies. And there is a tendency for many of these young businesses to think small when it comes to cannabis accounting software. Rather than selecting a true cannabis ERP solution, many cannabis companies…
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The cannabis industry may be the most highly-regulated industry in the country — especially since (or perhaps because) it’s not even recognized as a legal industry by the federal government. Recreational cannabis is now legal in 20 states, and medical marijuana in 36 states. Within each of those states, though, cannabis compliance regulations vary significantly.…
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Are you playing Russian roulette or firing on all cylinders? Velosio recently asked friend and strategic partner, Andrejs Bunkse to share his experience with cannabis businesses that lack the proper cannabis inventory software, accounting or business management software. Having worked as a consultant for state regulators that control who gets (and keeps) commercialmedical marijuana or…
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In my last post, I considered the core principles condensed from Jim Collins’ book, Good to Great, to see how they could be applied to the growing cannabis space. Coincidentally, about that same time, our client, Cura Cannabis Solutions (Cura), announced its acquisition by industry giant, CuraLeaf (OTCMKTS: CURLF), one of the top cannabis companies. One can’t help but recognize that Cura is a real-world example of a company that is making that…
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As legal cannabis regulations spread across the U.S. and the industry continues to evolve, individual states are instituting cannabis tracking software as a requirement for oversight. Each state — and by extension each system — comes with its own unique set of rules, and responsibilities. Regardless of where you operate, or what part of the…
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A Case for ERP in the Merger and Acquisition World of Cannabis The cannabis market is on fire, which spurs increasing interest from cannabis business investors. It’s been the fastest growing industry for years, and shows no signs of slowing. If you are already a successful cannabis business owner, you’ve built your cannabis venture into a…
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