Running a cannabis business can be complex, with many different aspects to keep track of. However, with the right tools and software, it can become much easier to manage.
There are many different types of software available, each catering to different needs of your cannabis business. In this blog, we will take a look at the 7 types of software that can help you take your cannabis business to the next level in 2023.
First, let’s talk about Inventory Management Software.
This type of software is crucial for keeping track of your finished products, your production materials, and ensuring that you always have enough stock to meet your needs (a cannabis specific ERP software like figgro should always allow you to set inventory and low-stock alerts). It can also help you understand which products are selling well and which ones aren’t, so that you can make informed decisions about what products to carry. With cannabis specific inventory management softwares, you can ensure that you always have the right products and component on hand at the right time.
Next, we have Point of Sale Software.
This type of software is essential for selling your products, and can help process transactions, keep track of sales data, and even track your customers. This way, you can always know how your business is doing, and who your best customers are. With a Point of Sale Software, you can improve your sales and customer service.
If we’re talking about B2B companies in our industry, most are simply using QuickBooks (see more in the “Accounting and Finance” section). If this is the case, be sure to check that your other software’s integrate seamlessly with QuickBooks, or even like figgro, could potentially replace your point-of-sale software all together.
Moving on, we have Compliance Software.
As the cannabis industry is heavily regulated, compliance software is a must-have tool. It helps to ensure that your business is following all the rules and regulations set by the government, and can keep track of inventory, compliance records, and even send reports to the government. With Compliance Software, you can be sure that your business is always operating within the law.
For most states in the US, they’re required to use either Metrc compliance software or BioTrack to report to the state government (international companies have similar compliance systems). When you’re looking for additional softwares to streamline your business, look for one that works well with Metrc and BioTrack. There’s nothing worse than having to record the same information multiple times into multiple softwares… figgro ERP is built to seamlessly sync back and forth with both Metrc and BioTrack so that you never have to worry about double entering any information, or forgetting to report the needed information to your governing body.
For cultivators, Grow Management Software is a must-have.
This software is specifically designed to help you keep track of your plants and ensure that they are growing properly. It can also help you plan when to harvest your plants for the best results. With Grow Management Software, you can improve the quality of your products and increase your yield.
Customer Relationship Management (CRM) Software is another one of the most important tools for cannabis businesses.
This software helps you keep track of your customers and ensures that you are providing the best service possible. It can help you keep track of sales leads, and even help you plan marketing campaigns. With CRM Software, you can improve customer satisfaction and increase sales.
Next up is production management software.
This type of software helps you manage the production process and keep track of things like growing schedules, harvest dates, and yields. Production management can be a very complicated and pain-staking challenge to solve. Ensure that the software company you choose to work with is specifically created for your industry and has the clients to prove it. Some popular options include Flowhub and of course figgro ERP.
Lastly, we have Accounting and Financial Management Software.
This type of software is crucial for keeping track of your finances and understanding how your business is performing financially. It can help you create invoices, keep track of expenses, and make reports. With Accounting and Financial Management Software, you can have a better understanding of your business’s financial health and make more informed decisions.
One additional thing to think about is job costing. The question of how to effectively do job costing for the cannabis industry is a tough one to answer. Luckily, ERP softwares such as figgro make it easy to build a “recipe,” and know the exact costs per unit and then exact costs per job. This is crucial information to know in order to run your cannabis manufacturing facility well.
In conclusion, having the right software for your cannabis business can make a huge difference in how well your business operates. Each type of software has its own unique benefits and can help you in different ways. By considering which software is right for your business, you can improve your operations, stay compliant, and ultimately increase your profits. It’s important to do some research and invest in the right software that can help you achieve your business goals in 2023.
Did you know that figgro ERP is a single all-encompassing cannabis business software that can do everything you just learned above? How much more efficient do you think you and your team would be if instead of jumping back and forth between seven software’s, you only had to use one?
Learn more about the figgro cannabis-specific ERP software now and solve all of your cannabis inventory management, cannabis production management, and cannabis compliance and regulation challenges, all in one place.