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How Parsl is unlocking the potential of the cannabis industry

Cannabis legalization around the world is moving really fast, but there is a huge problem with most of the current seed-to-sale tracking systems — they don’t communicate well with other systems or share data with the business owners who are paying for them.

While business owners are required to use seed-to-sale tracking in order to demonstrate compliance with rapidly changing laws, what they get in return isn’t enough. Cannabis industry business owners deserve insights and data from their customers and industry consumers at large. Cannabis patients and recreational users deserve easy and secure access to all the information about their cannabis products from every step along the way.

At least that’s what Parsl thinks – so we’ve built the system to do exactly that!

The Parsl SmartTag is how we’re helping the cannabis industry connect and communicate

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Parsl works by embedding a product’s history in the product itself using the Parsl SmartTag.

Each time that product is scanned, and a relevant action is submitted somewhere in the supply-chain, that information is stored permanently and securely in the Parsl system. This allows any cannabis business to build inventory records that provide an item level product history that can be traced right back to when the seed was first put in the ground.

With information from every step of the cannabis supply chain at its disposal, this little tag will be a powerful influence in the cannabis industry.

It will be able to automate the compliance process, pay cannabis-related taxes in real time, educate consumers on the products they are buying, give businesses data to make smarter business decisions and much much more.

Parsl is a new type of technology company, dedicated to helping the cannabis industry communicate effectively.

Automating the compliance process

By tracking inventory on an item-by-item basis, Parsl is able to automatically generate and submit all of the data cannabis business are required to collect for state regulators.

This solution will immediately reduce the cost involved in running regular blind counts on inventory and other tasks that suck time and resources away from the operations of your cannabis business.

Pay cannabis related taxes in real time

Cannabis has one of the most complicated taxation processes of any industry out there, but Parsl takes the pain away.

Operational taxation costs can be automated for businesses based on basic data inputs and transactional taxation costs can be calculated and paid in real time because the tracking system is tracked via real world actions.

Educate consumers on the products they are buying

The information stored on the Parsl SmartTag gives cannabis businesses at all stages of the supply-chain a direct point-of-contact with their consumers.

This gives businesses a tangible way of communicating the value they provide and consumers a better understanding of what goes into the product they are buying.

Give businesses data to make smarter business decisions

More importantly than anything else, the Parsl SmartTag gives cannabis businesses the opportunity to access data about their industry they have never had access to before and make smarter decisions about the future of their operations.

Parsl is the cannabis industry’s solution for better communication and it is here today! Fill out the form to book a demonstration of our software and start to unlock the potential of the cannabis industry for your business.