The details and updates in a company’s financial records can change as quickly as business does. In order for a company to remain compliant and keep its data safe, audit trails and tracking tools are of utmost importance. What is an Audit Trail? An audit trail is a step-by-step record that is used to trace…
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We’ve all heard the age-old idiom, “A bad workman blames his tools.” But when it comes to working in a highly nuanced industry such as cannabis, the tools required to successfully run an airtight operation are crucial. To run a lean cannabis cultivation and processing operation, it is imperative to have a software solution that…
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There are thousands of good cannabis companies out there – with more launching everyday as more states move to legalize marijuana. But “good” simply isn’t good enough – at least if you plan on staying in business for the years – or decades – to come. While good companies often manage to survive for a…
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Look, it’s no secret that the ERP now plays a crucial role in any business – regardless of size, sector, or industry. An ERP’s primary goal is to provide a foundation for running a business. It represents the precursor for all digital transformation efforts, enables organizations to drive strategic change, and provides the visibility and…
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As cannabis evolves into a more heavily regulated space, companies are increasingly turning toward so-called “seed-to-sale” solutions to maintain compliance and mitigate risk. Seed-to-sale software keeps detailed records on your crop – from when you plant the seeds, until they grow into mature plants, and from there, morph into gummies and vape pens ready to…
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Legal marijuana businesses face the same hurdles all growing businesses do. The cannabis industry and marijuana business won big in the election this year, with five states voting to approve recreational use and three more voting to approve cannabis for medicinal purposes. Experts predict the newest legalizations will help spur growth in the legal cannabis…
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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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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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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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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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