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…
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…
The acquisition of Phoenix-based Silverware, Inc. expands Velosio’s client base and portfolio of cloud ERP, CRM and digital transformation solutions catering to commercial greenhouse growers. COLUMBUS, OH, April 1, 2022 — Velosio announced today that it has acquired Silverware Inc., a leading Microsoft Partner focused on Dynamics 365 Business Central with specialization in the Agribusiness…
It’s not like anyone should be surprised that legalization comes with a few trade-offs. The benefits of legal status come with tax obligations, regulation, and of course, the potential for audits – just like any legit business operation. It’s just that when it comes to the IRS, many companies experience the worst of the legal…
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…
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…
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 transition from…
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) commercial medical marijuana…
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…
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…
