The Cannabis 411 series demystifies the complexities of the cannabis industry, offering insights on one of the fastest-growing sectors in the economy. From cultivation techniques, regulatory compliance, market trends, and innovations, In this post, we will breakdown the concept of compliance software.
WHAT IS IT?
Compliance software is the government’s way of keeping track of cannabis growers, manufacturers, and retailers. At regular intervals determined by the state, licensed cannabis companies must report their inventory through these state certified softwares. The most popular of these are BioTrack and Metrc, however there are dozens of certified companies which offer this service. This software is critical to the cannabis industry, and was instrumental in allowing a still federally illegal substance to be sold on the open market.
HOW IS IT ENFORCED?
The U.S government still keeps a tight leash on cannabis, and has mandated that states levy heavy penalties to non-compliant businesses. There are strict guidelines that need to be followed by industry professionals. Misreporting inventory data can lead to hefty fines by the government, and too many violations can lead to a store or farm getting shut down.
CLOUDBOX USE CASE
CloudBox uses open API integration, which seamlessly inputs data into any compliance software. The code allows for specific information from selected boxes to be pulled from anywhere within the CloudBox user’s software and imported into the compliance software automatically. Continuous automation between real time CloudBox data and state compliance software means that inventory data is always up to date. Human error is virtually entirely removed from the equation while accurate and in depth inventory statistics are available at all times, not just at the point of sale.
For more information about how CloudBox can helo your business please contact us via our contact form here.
