Software Selection for Cannabis Companies

June 27, 2018

Software Selection for Cannabis Companies

Synopsis
3 Minute Read

Choosing the right applications can help emerging cannabis enterprises can gain a significant competitive advantage. MNP recently hosted a webinar to explain the best path forward.

​​​​​​​​​​Thank you for attending MNP’s recent webinar​ about effective software selection for Cannabis-based enterprises. Whether you’re a grower, cultivator, distributor or retailer, we hope the insights you gained will help you leverage the most effective tools, gain a competitive edge and suppor​t your growing business.

As the expected October 17​, 2018 date for cannabis legalization looms ever closer, entrepreneurs across the country have many factors to consider which could make or break the success of their burgeoning enterprise. Chiefly, how to create an effective and lasting competitive advantage. ​​

While key strategies such as marketing and business planning are significant priorities, one strategic decision that may not be as obvious is the impact software decisions will make over the near- and long-term. From enterprise resource planning to point of sale and customer relationship management, the right application decisions are fundamental to competing in this new landscape

In addition to the webinar​​​ recording, our team has also prepared a list of our most frequently asked questions. We hope these answers will assist you in simplifying the software selection process and finding the right tools to power your operation.

What systems are available to me in the cannabis space?
There are several available solutions. Which is best will depend on the size, business lines and growth trajectory of your business. ​Most cannabis start-ups are currently using a collection of smaller solutions, while growing and larger businesses are using tier-2 enterprise resource planners such as Acumatica, ​MS Dynamics, SAP B1 or Sage X3 which have specialized cannabis modules available. ​

I'm always hearing about product X, is it a good fit or a good pitch?
There are numerous new entrants to the Canadian cannabis software market which look promising. There are also many which may have potential but are marketing aggressively given their current capabilities. The best way to decide which products are a true fit for your business is through a comparative, structured software selection and assessment.
Which systems can integrate our cultivation, online and retail operations?
Many tier-2 enterprise resource planning systems which have very established track records in managing inventory, shipping, and retail operations – such as Acumatica, MS Dynamics, SAP B1 and Sage X3 – also have cultivation modules that can integrate with your environmental monitoring systems and the growth data it produces.

How can I know if I'm over or under investing in our technology?
Determining a target budget for IT is difficult. But based on your growth aspirations you can begin to develop a roadmap of core the functionality that you’ll require. ​Having a plan to implement the required functionality before you need it is important. But you also want to be conscious not to overbuild your technology infrastructure before your organization can utilize it.
I'm not a technology person, what are the right questions to ask these vendors?
Start with a firm understanding of your organization’s requirements. From there, you can knowledgeably pick apart a system’s functionality to ensure it can effectively satisfy your organization’s requirements.

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