Starting up a company can be challenging enough. But lighting up an entirely new industry – particularly one that’s budding from a product still illegal on the books of the federal government– can leave executives lost in the weeds.
So the National Cannabis Industry Association (NCIA) decided to recognize a high technology effort to get marijuana’s “green rush” companies from seed-to-sale with enterprise resource planning software designed specifically for their needs.
Earlier this month, Guardian Data Systems won the industry group’s first annual NCIA Cannatech award for its pot-focused ERP and point-of-sale solutions.
“We are very proud to win this NCIA Cannatech award for technology,” said Lance Ott, Guardian’s chief executive officer. “It is great recognition from our peers in the cannabis industry that our software is a powerful way to automate business operations, gain insight into customer data, ensure compliance and control costs.”
Until recently, marijuana companies trying to maintain a low profile have avoided deploying enterprise software or any other digital system to track their business processes. Now, though, seven states and the District of Columbia have legalized recreational use of marijuana, while 28 others have approved medical use of cannabis. In addition, 16 states allow limited medical use of cannabis extracts.
Even as the federal government still lists marijuana as a Schedule I drug considered to be addictive and without medical value, legal pot is turning a huge profit. North American sales topped $6.7 billion in 2016 as the legal market continued to expand. Annual sales are projected to exceed $20 billion by 2021.
And that is where ERP comes in. Founded in 2008, Guardian Data Systems offers its ROAR Executive Suite to help cannabis companies roll up operations into the cloud from cultivation and processing to dispensary, delivery and distribution.
“The winners of our inaugural Cannavation and Cannatech Awards exemplify the innovation and creativity that is driving the cannabis industry,” said NCIA executive director Aaron Smith. “These technologies are moving our industry toward ever-greater energy efficiency, transparency, and responsibility. We’re proud to recognize these leaders.”
• As marijuana makes the leap from homegrown to enterprise-level production, an integrated ERP solution can keep business on the up-and-up.
• Clear insight into operations makes regulatory compliance and cost-control manageable.
• Adopting enterprise-quality cloud ERP from the start can help each business manage an expected CAGR over 20% into the foreseeable future.
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Source: SANS ISC SecNewsFeed @ February 23, 2017 at 03:15PM