Top 5 benefits of low-code for the cannabis industry

Top 5 benefits of low-code for the cannabis industry

As plenty of industries are rushing to digitize, the cannabis industry faces a unique set of challenges — companies across the nation are struggling to produce a seamless seed-to-sale flow, all while scaling to meet increasing consumer demands, adapting to the whirlwind of fluctuating regulations, and navigating this pandemic.

Because the cannabis industry varies significantly between states and regions, there is no one-size-fits-all solution to modernizing operations. It is difficult for companies to remain flexible, efficient, and profitable in the face of all the change.

For other industries, the answer is simple: get more efficient spreadsheet flows, hire more staff to mitigate data entry errors, and lean on IT to find better technology.

Cannabis companies don’t have these luxuries. They need to improve processes without increasing costs or relying on IT. Luckily, many leaders have discovered the cure-all for efficiently running their cannabis business: low-code technology.

Here are 5 ways low-code is radically improving cannabis companies and dramatically improving their bottom line.

 

1. Efficiency

By nature, the cannabis industry consists of many moving parts. High standards must be implemented across the entire business—from cultivators and processors to distributors and dispensaries—and that isn’t easy to do efficiently and quickly, especially if the business scales. With increasing competition and regulations, products must be above-board and meet rising consumer expectations.

Most businesses rely on numerous spreadsheets, paper forms, manual data entry, and emails. As with any industry, these slow and outdated processes increase the chance for error and operational gaps. At its baseline, any inefficiency can cost cannabis companies a significant amount of money and strain on their business.

Before discovering low-code technology, The Clinic in Nevada reported that manual systems led to lost invoices, data entry errors, corrupt datasets, inventory management challenges, and inadequate or delayed analytics.

After their COO built his own cannabis management application using TrackVia’s low-code platform (using an intuitive drag-and-drop interface with no coding), The Clinic streamlined their entire operations, now managing 95% of the business through their very own low-code apps. They now automate processes and workflows, centralize all data in one system, and have easily integrated their apps into a POS system and state-mandated tools. Because of low-code, they’ve saved 50 hours of labor every day, resulting in $300,000 saved annually.

 

2. Compliance

While every industry must meet specific compliance requirements, the cannabis industry is subject to strict and constantly changing checks and balances. Rules concerning FDA licensing, transportation between states, THC and CBD testing and sampling, and more are all subject to change as states adapt to continued legalization and fluctuating legislation.

Many cannabis companies turn to customizable low-code platforms like TrackVia because it allows them to make process changes with a few clicks. What’s more, the app enables leaders to monitor every process and automate prevention measures or corrective actions using custom fields, thresholds, and automatic triggers, alerts, and notifications.

With low-code, comprehensive audit trails are available within seconds, and real-time analytics and reports with customizable charts, graphs, and dashboards can give industry leaders a top-down view of everything happening across their entire operations, from cultivation and extraction to harvest predictions and third-party testing. Employees can even use it at different locations or regions, and complete work when offline.

 

3. Flexibility

Each cannabis company faces a unique set of challenges that require them to stay flexible in continually shifting ground. In Oregon, the Oregon Department of Agriculture legalized hemp production in 2015 but didn’t introduce more permanent regulations around irrigation, identification tracking tags, and resampling until 2019, forcing cannabis businesses into hot water.

Company leaders must ensure that their systems can remain flexible and effective in the face of change. As the industry evolves, companies must be able to tweak their processes to keep up, meaning data must be transparent. Technology must be able to change to meet new regulatory requirements. Easy-to-use low-code software offers agility as companies adapt and respond to the market without breaking the bank.

Plus, TrackVia’s low-code platform offers web and mobile functionality, giving employees the freedom to work in any location, on any device, even when offline. Because low-code is so easy to use, any business leader can modify, tweak, and adapt their app anytime with just clicks.

 

4.Velocity

The cannabis industry is growing quickly. According to New Frontline Data, the US’s medical and recreational marijuana market is predicted to more than triple by 2025, creating hundreds of thousands of jobs and making a multi-billion dollar economic impact.

The larger your cannabis business grows, the harder it is to keep up with inventory, sales, and staff. It’s difficult to scale when operational processes are chaotic. Optimizing operations is all about finding more efficient ways to manage time and resources. Because running a cannabis business is expensive— and even worse if you’re a multi-state operator struggling to scale— companies need a low-code cannabis workflow software capable of growth and providing real-time data across multiple locations.

 

5. Implementation

You don’t need to know how to code to build incredibly useful apps using low-code. That means no hand-coding and no back-and-forth between IT or coding professionals. Low-code lets everyday business people without technical training turn their ideas into apps in days, not months.

All the passionate growers, cultivators, and retail store owners who know their processes best can create apps to automate workflows and improve productivity. Plus, implementation into other systems is just as easy with TrackVia. Using a simple drag-and-drop interface, you can connect systems by barely lifting a finger—no more disparate data on different systems or training employees to use numerous systems.

 

Get the complete low-code guide to cannabisThe Low-Code Guide to Cannabis

If you want to take a deeper dive into what low-code is, how other cannabis companies are using it, and learn some best practices for taking your operations to new heights, download this free guide.