Whenever someone puts the two phrases ‘cannabis business’ and ‘software tool’ into one sentence, most of us instinctively think of seed to sale software, which is understandable because they are widely used in the sector. However, that is also a limiting factor for a lot of companies working within the cannabis industry, as there are various other more specific – as well as more comprehensive – cannabis software applications and tools available in the market that they could be taking advantage of instead.
On that note, we are going to concentrate on the most comprehensive cannabis software solution out there, aka a cannabis ERP system. Stay with us as we take a brief look at the features and applications of a cannabis ERP system that takes it beyond the incomplete scopes of a simple seed to sale software, and provides the truly all-in-one cannabis software solution.
Merging Financials And Operations With Comprehensive Financial Management Tools
A complete integration of financials and operations providing financial transparency to all concerned departments is a very important part of how an enterprise resource planning (ERP) software functions in general. The 365 Cannabis ERP System, for example, brings that integration and real time transparency to the cannabis industry, alongside a host of other features that we are going to discuss after this.
More in relation to the merger of financials and operations that we are discussing here, 365 Cannabis brings a comprehensive set of tools, considered both necessary and expected from a top-of-the-line ERP system. Analytics & reporting, multi-company management, asset management, transaction management, fair market value, tax calculations, profit and budget calculations, etc. are just a few of the features you can expect from the software for financial management alone.
Cannabis ERP systems come equipped with the ability to let you monitor every aspect of the crops’ growth cycle, automate inventory management, provide an interface for easy planning of the crop space and labor assignment – the list goes on.
Aside from using the collected data to streamline your future cultivation cycles, it should be able to also predict possible changes via yield forecasting features, staying in sync with the operational changes made in the simulation.
Accurate estimation of each product’s cost is essential to set a competitive market price, which is facilitated to the point of preciseness by a ERP, with easy BOM and Scrap management, labor and machinery assignment, material resource planning, WIP, quality control standard setting and more.
Customer Retail Management (CRM)
An essential and extensive cannabis software solution in itself, the CRM is a must have for any business these days. An enterprise resource planning software built to be the all-in-one solution must include a good CRM system in it by default. Expect the following features at the very least:
- Marketing campaign management
- Sales cycle management and opportunity identification
- Pricing and discount list creation features
- Reporting and analytics
- Real time supply chain management
Distribution management is necessary for tracking, on-time shipping & delivery, real time inventory status updates, automated reordering of supplies, and more.
Your cannabis ERP system should be able to provide centralized control for everything mentioned already, as well as for consignment setups, and even for multi-facility management, if and when applicable.
Not unlike CRM, retail management usually requires a separate software suite all by itself, but even this should be included in your all-in-one ERP package.
Expect everything from basic cash management and advanced safety features, to loyalty program management and future trend predictions.
Simply put, a cannabis ERP system that’s up to the task can and often will include every cannabis software tool that you will likely ever need to run the business. Although seed to sale software systems aim to achieve a similar feat, they are generally a lot less comprehensive. On the other hand, the cannabis ERP system is designed to be the all-in-one software solution that a cannabis business will ever need to spend money on.