TECHNOLOGY АND SERVICES FОR GОVЕRNMЕNT TO MОNITОR АND TRАСK CАNNАBIЅ CОMРLIАNСЕ

Thеwаrbеingwаgеdfоrmаrijuаnа’ѕlеgаlассерtаnсе in Amеriсаmay be finally over due to the growing state legalization of cannabis for recreational and medical use, including the recent addition of California and Nevada to the list. It certainly has not been an easy road to de-stigmatize something that is still considered an illegal drug under the federal code. While researchers, advocates, and growing public acceptance of cannabis has helped in many ways to spread awareness that cannabis should not be on the same danger list as cocaine, heroin, and meth, issues related to how it is regulated continue to put it next to these dangerous substance.

One of the ways that those in the cannabis industry are looking at to create major change is a way to leverage technology so that government can monitor and track cannabis compliance for a standardized approach that could win a change to the federal code. Professional services firms and tech startups have heard the pleas of those in the cannabis industry and see the opportunity to help this growing industry.

Cannabis Compliance Consultants

In looking to provide direction for those in the cannabis industry, one approach has been to develop a business niche of compliance consulting to provide education and awareness as to the most appropriate strategies for developing a compliance cannabis business. Companies like American Cannabis Consulting offer compliance audits to help their clients ensure that their cultivation operations or retail dispenseries adhere to the current laws related to both recreational and medical cannabis markets.

With evolving regulations that seem to change often, companies like this help with regular audits to bring every business up to the current codes related to hiring, training, business operations, marketing and payments. These types of firms also provide strategies for automation and technology investments that can assist the cannabis business as they scale.

Technology Platforms for Cannabis Compliance

Companies like KIND Financial have determined that providing a dual-platform for both government agencies and those in the cannabis industry might stimulate collaboration and tighter integration to yield more standardized practices, an efficient way to share regulatory updates and information on new requirements, and foster understanding and appreciation for what each is doing to move the cannabis industry forward as a legitimate enterprise.

Its Agrisoft platform, powered in part with Microsoft technology, for government and regulatory agencies allows them to collect and monitor the necessary data to monitor compliance across the entire lifecycle of cannabis businesses, including growing, inventory management, cash management and collection, anti-money laundering, state and local taxation, and financial and operational oversight. This includes tracking jurisdictional laws and rules that govern such businesses. 

Similarly, the Agrisoft platform for cannabis companies presents features that provide the same benefits, keeping them updated and aware of how current regulations impact all parts of their operations so they remain compliant. The seed-to-sale software solution also delivers the necessary data security that is crucial for an industry already under scrutiny and one that has a significant amount of sensitive data available. The company also offers payment solutions that also ensure compliance and provide greater opportunities to use similar transaction processes that other industries already enjoy but were previously unavailable to those in the cannabis industry due, in part, to regulations placed on financial institutions.

Learning Management Systems

Another unique solution is the use of what is known as a learning management system. Organizations like Cannabis Integration provide an open-source solution for training and compliance. Their software offers a way to develop employees so they understand the regulatory environment that should guide all their decisions and actions. Their open-source platform helps more companies create government compliance reports, ensure that everyone has the latest information about changes in regulations, and reduce the cost of training and development to raise the bar on the standards for the entire cannabis industry.

Summits and Conferences

Recently held in Los Angeles, the 2^nd Annual Cannabis Compliance Summit also illustrated how those thought leaders in the cannabis industry, regulators, and those working to develop compliance-related technology solutions can collaborate and brainstorm while building awareness for what the industry is trying to accomplish. Other industries have used these meetings to make significant changes to how their industry is perceived while also develop innovative solutions to existing pain points in the process. Additional regional, national, and global conferences and events are planned for 2018 and beyond like this summit that are important for those in the cannabis industry to get involved with so they can ensure they are following the current regulations and help shape the future compliance framework.